Taysha Gene Therapies (NASDAQ:TSHA) Shares Up 8% - Time to Buy?

Key Points

• Taysha Gene Therapies' stock rose 8% to a trading price of $3.16, with a total of 2.84 million shares exchanged, which is a 6% decline from the average volume.
• Several analysts have upgraded their price targets for Taysha, with Canaccord Genuity setting a target as high as $11.00 and a consensus rating of "Buy" from eight analysts.
• The company reported a net loss of ($0.09) EPS for the recent quarter, missing expectations, although revenue of $1.99 million exceeded analyst estimates.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report)'s stock price shot up 8% on Wednesday . The stock traded as high as $3.16 and last traded at $3.16. 2,843,675 shares changed hands during trading, a decline of 6% from the average session volume of 3,025,035 shares. The stock had previously closed at $2.92.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TSHA. Citigroup restated an "outperform" rating on shares of Taysha Gene Therapies in a report on Thursday, May 29th. Wells Fargo & Company raised their price objective on Taysha Gene Therapies from $7.50 to $8.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Chardan Capital boosted their target price on Taysha Gene Therapies from $9.00 to $10.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Canaccord Genuity Group raised their price target on Taysha Gene Therapies from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $8.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday, July 1st. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $8.29.

Taysha Gene Therapies Stock Performance

The stock has a 50 day moving average of $2.87 and a two-hundred day moving average of $2.37. The stock has a market capitalization of $860.68 million, a PE ratio of -9.28 and a beta of 0.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 12.48 and a quick ratio of 12.48.

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

Insider Transactions at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of Taysha Gene Therapies stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $3.23, for a total transaction of $646,000.00. Following the completion of the sale, the insider directly owned 1,006,439 shares in the company, valued at approximately $3,250,797.97. This trade represents a 16.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.78% of the company's stock.

Institutional Trading of Taysha Gene Therapies

Several large investors have recently modified their holdings of TSHA. Marex Group plc acquired a new position in shares of Taysha Gene Therapies in the second quarter worth $29,000. E Fund Management Co. Ltd. acquired a new position in Taysha Gene Therapies in the 2nd quarter valued at about $31,000. May Hill Capital LLC purchased a new position in Taysha Gene Therapies in the 2nd quarter valued at about $37,000. Tower Research Capital LLC TRC lifted its holdings in Taysha Gene Therapies by 156.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company's stock valued at $41,000 after purchasing an additional 10,742 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Taysha Gene Therapies by 51.9% during the second quarter. BNP Paribas Financial Markets now owns 18,591 shares of the company's stock worth $43,000 after buying an additional 6,350 shares in the last quarter. 77.70% of the stock is currently owned by institutional investors and hedge funds.

Taysha Gene Therapies Company Profile

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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