Taysha Gene Therapies (NASDAQ:TSHA) Shares Gap Up - Time to Buy?

Key Points

• Taysha Gene Therapies shares gapped up on Tuesday, opening at $4.93 after a previous close of $4.72, with a last traded price of $4.83 and a trading volume of 583,250 shares.
• Analysts have mixed ratings for TSHA, with one Strong Buy, nine Buy, and one Sell ratings, resulting in a consensus rating of "Moderate Buy" and an average target price of $9.67.
• The company reported a quarterly loss of ($0.09) earnings per share, missing estimates, but beat revenue expectations with $1.99 million for the quarter.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $4.72, but opened at $4.93. Taysha Gene Therapies shares last traded at $4.83, with a volume of 583,250 shares.

Wall Street Analyst Weigh In

TSHA has been the subject of several recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Taysha Gene Therapies in a report on Wednesday, October 8th. Chardan Capital reissued a "buy" rating and set a $12.00 price objective on shares of Taysha Gene Therapies in a research note on Friday. Raymond James Financial began coverage on Taysha Gene Therapies in a research note on Tuesday. They issued a "strong-buy" rating and a $13.00 target price for the company. Wells Fargo & Company lifted their price target on Taysha Gene Therapies from $7.50 to $8.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Finally, Needham & Company LLC reissued a "buy" rating and set a $10.00 price target on shares of Taysha Gene Therapies in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $9.67.

Taysha Gene Therapies Stock Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 12.48 and a quick ratio of 12.48. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -14.98 and a beta of 0.99. The firm has a 50 day simple moving average of $3.51 and a 200-day simple moving average of $2.74.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.02). The business had revenue of $1.99 million for the quarter, compared to analysts' expectations of $1.61 million. Taysha Gene Therapies had a negative return on equity of 78.44% and a negative net margin of 1,144.97%. As a group, analysts predict that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $3.23, for a total value of $646,000.00. Following the sale, the insider directly owned 1,006,439 shares of the company's stock, valued at approximately $3,250,797.97. The trade was a 16.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Taysha Gene Therapies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of Taysha Gene Therapies during the first quarter worth $760,000. Octagon Capital Advisors LP boosted its holdings in Taysha Gene Therapies by 2.4% during the 1st quarter. Octagon Capital Advisors LP now owns 10,700,000 shares of the company's stock valued at $14,873,000 after acquiring an additional 250,000 shares during the period. ADAR1 Capital Management LLC boosted its holdings in Taysha Gene Therapies by 500.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 1,066,309 shares of the company's stock valued at $1,482,000 after acquiring an additional 888,602 shares during the period. XTX Topco Ltd acquired a new position in Taysha Gene Therapies in the 1st quarter valued at about $282,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Taysha Gene Therapies during the first quarter worth about $341,000. Hedge funds and other institutional investors own 77.70% of the company's stock.

About Taysha Gene Therapies

Taysha Gene Therapies, Inc, a gene therapy company, focuses on developing and commercializing adeno-associated virus-based gene therapies for the treatment of monogenic diseases of the central nervous system. It primarily develops TSHA-120 for the treatment of giant axonal neuropathy; TSHA-102 for the treatment of Rett syndrome; TSHA-121 for the treatment of CLN7 disease; TSHA-118 for the treatment of CLN1 disease; TSHA-105 for the treatment of for SLC13A5 deficiency; TSHA-113 for the treatment of tauopathies; TSHA-106 for the treatment of angelman syndrome; TSHA-114 for the treatment of fragile X syndrome; and TSHA-101 for the treatment of GM2 gangliosidosis.

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