Taysha Gene Therapies (NASDAQ:TSHA) Trading Up 5.7% - Here's Why

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) traded up 5.7% on Friday . The company traded as high as $2.67 and last traded at $2.70. 936,732 shares were traded during mid-day trading, a decline of 68% from the average session volume of 2,928,755 shares. The stock had previously closed at $2.55.

Analyst Ratings Changes

TSHA has been the subject of several analyst reports. Canaccord Genuity Group boosted their target price on Taysha Gene Therapies from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Needham & Company LLC reissued a "buy" rating and issued a $8.00 price target on shares of Taysha Gene Therapies in a research report on Tuesday, July 1st. Citigroup restated an "outperform" rating on shares of Taysha Gene Therapies in a research note on Thursday, May 29th. Chardan Capital raised their target price on shares of Taysha Gene Therapies from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, JMP Securities lifted their target price on shares of Taysha Gene Therapies from $5.00 to $6.00 and gave the stock a "market outperform" rating in a report on Thursday, May 29th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $8.17.

Taysha Gene Therapies Price Performance

The firm has a 50-day moving average price of $2.54 and a two-hundred day moving average price of $1.95. The company has a market capitalization of $566.70 million, a P/E ratio of -7.76 and a beta of 0.97. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 0.77.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The firm 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 1,201.08% and a negative return on equity of 104.93%. During the same period in the prior year, the company earned ($0.10) EPS. Equities research analysts anticipate that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal year.

Insider Activity at Taysha Gene Therapies

In other news, major shareholder Paul B. Manning bought 750,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were acquired at an average cost of $2.75 per share, with a total value of $2,062,500.00. Following the completion of the transaction, the insider directly owned 2,841,704 shares in the company, valued at $7,814,686. This represents a 35.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.78% of the company's stock.

Hedge Funds Weigh In On Taysha Gene Therapies

Several large investors have recently added to or reduced their stakes in TSHA. Bank of New York Mellon Corp increased its position in shares of Taysha Gene Therapies by 33.1% during the fourth quarter. Bank of New York Mellon Corp now owns 450,261 shares of the company's stock valued at $779,000 after purchasing an additional 111,989 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Taysha Gene Therapies by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 474,257 shares of the company's stock worth $820,000 after buying an additional 11,390 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Taysha Gene Therapies by 110.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 59,069 shares of the company's stock valued at $102,000 after buying an additional 31,000 shares during the period. Cibc World Markets Corp bought a new stake in Taysha Gene Therapies in the 4th quarter valued at $28,000. Finally, Privium Fund Management B.V. raised its stake in shares of Taysha Gene Therapies by 12.4% in the 4th quarter. Privium Fund Management B.V. now owns 134,900 shares of the company's stock valued at $233,000 after buying an additional 14,900 shares in the last quarter. Institutional investors and hedge funds own 77.70% of the company's stock.

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.