Taysha Gene Therapies (NASDAQ:TSHA) Trading Up 5.7% - What's Next?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report)'s share price traded up 5.7% on Friday . The stock traded as high as $2.67 and last traded at $2.70. 936,732 shares changed hands during 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

Several analysts have weighed in on the company. Bank of America assumed coverage on Taysha Gene Therapies in a research note on Friday. They set a "buy" rating and a $8.00 price target on the stock. Canaccord Genuity Group boosted their price target on Taysha Gene Therapies from $9.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Needham & Company LLC restated a "buy" rating and issued a $8.00 target price on shares of Taysha Gene Therapies in a research note on Tuesday, July 1st. Cantor Fitzgerald restated an "overweight" rating and issued a $7.00 target price on shares of Taysha Gene Therapies in a research note on Monday, April 28th. Finally, Chardan Capital upped their target price on Taysha Gene Therapies from $7.00 to $9.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Taysha Gene Therapies has an average rating of "Buy" and an average target price of $8.17.

Taysha Gene Therapies Stock Performance

The firm has a market cap of $566.70 million, a PE ratio of -7.76 and a beta of 0.97. The firm has a 50-day moving average price of $2.54 and a two-hundred day moving average price of $1.94. 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) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $2.30 million for the quarter, compared to the consensus estimate of $1.48 million. Taysha Gene Therapies had a negative return on equity of 104.93% and a negative net margin of 1,201.08%. During the same quarter last year, the business posted ($0.10) earnings per share. Research analysts forecast that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Paul B. Manning acquired 750,000 shares of Taysha Gene Therapies stock in a transaction that occurred on Friday, May 30th. The shares were purchased at an average price of $2.75 per share, for a total transaction of $2,062,500.00. Following the completion of the transaction, the insider owned 2,841,704 shares in the company, valued at $7,814,686. This represents a 35.86% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.78% of the company's stock.

Institutional Investors Weigh In On Taysha Gene Therapies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Granahan Investment Management LLC grew its stake in Taysha Gene Therapies by 0.3% during the 1st quarter. Granahan Investment Management LLC now owns 1,640,793 shares of the company's stock worth $2,281,000 after purchasing an additional 4,412 shares in the last quarter. Hsbc Holdings PLC grew its stake in Taysha Gene Therapies by 65.6% during the 4th quarter. Hsbc Holdings PLC now owns 20,391 shares of the company's stock worth $36,000 after purchasing an additional 8,076 shares in the last quarter. Virtus ETF Advisers LLC lifted its holdings in Taysha Gene Therapies by 43.0% during the 4th quarter. Virtus ETF Advisers LLC now owns 31,597 shares of the company's stock worth $55,000 after buying an additional 9,494 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Taysha Gene Therapies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 3,572,349 shares of the company's stock worth $6,182,000 after buying an additional 9,591 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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 buying an additional 11,390 shares during the last quarter. Institutional investors and hedge funds 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.