Taysha Gene Therapies (NASDAQ:TSHA) Trading Up 10.5% - Here's Why

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) traded up 10.5% during trading on Wednesday . The company traded as high as $3.01 and last traded at $2.89. 2,897,806 shares changed hands during trading, a decline of 5% from the average session volume of 3,048,486 shares. The stock had previously closed at $2.61.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. JMP Securities lifted their price target on shares of Taysha Gene Therapies from $5.00 to $6.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 29th. Citigroup reaffirmed an "outperform" rating on shares of Taysha Gene Therapies in a research note on Thursday, May 29th. Canaccord Genuity Group lifted their price target on shares of Taysha Gene Therapies from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $8.00 price target on shares of Taysha Gene Therapies in a research note on Tuesday. Finally, Chardan Capital lifted their price target on shares of Taysha Gene Therapies from $7.00 to $9.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $7.57.

Taysha Gene Therapies Stock Performance

The company has a market capitalization of $545.24 million, a PE ratio of 4.03 and a beta of 1.04. The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 0.48. The firm's 50-day simple moving average is $2.18 and its 200-day simple moving average is $1.93.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $2.30 million during the quarter, compared to analysts' expectations of $1.48 million. Taysha Gene Therapies had a negative net margin of 229.67% and a negative return on equity of 106.36%. During the same period in the previous year, the company earned ($0.10) EPS. On average, research analysts predict that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current year.

Insider Activity

In other Taysha Gene Therapies news, major shareholder Paul B. Manning purchased 750,000 shares of Taysha Gene Therapies stock in a transaction dated Friday, May 30th. The stock was acquired at an average price of $2.75 per share, for a total transaction of $2,062,500.00. Following the acquisition, the insider now owns 2,841,704 shares in the company, valued at $7,814,686. This trade represents a 35.86% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.78% of the company's stock.

Institutional Investors Weigh In On Taysha Gene Therapies

Several large investors have recently modified their holdings of TSHA. Quantum Private Wealth LLC raised its stake in shares of Taysha Gene Therapies by 3.6% during the 4th quarter. Quantum Private Wealth LLC now owns 794,976 shares of the company's stock worth $1,375,000 after acquiring an additional 27,360 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Taysha Gene Therapies by 33.1% during the 4th quarter. Bank of New York Mellon Corp now owns 450,261 shares of the company's stock worth $779,000 after acquiring an additional 111,989 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Taysha Gene Therapies by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 474,257 shares of the company's stock worth $820,000 after acquiring an additional 11,390 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Taysha Gene Therapies during the 4th quarter worth approximately $31,000. Finally, Commonwealth Equity Services LLC raised its stake in shares of Taysha Gene Therapies by 110.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 59,069 shares of the company's stock worth $102,000 after acquiring an additional 31,000 shares in the last quarter. 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.