Taysha Gene Therapies (NASDAQ:TSHA) Trading Up 9.1% - Time to Buy?

Key Points

• Taysha Gene Therapies' stock rose 9.1% to $5.15, despite a 52% decline in trading volume compared to its average.
• Analysts have mixed ratings on TSHA, with a consensus target price of $9.67, where one analyst rated it Strong Buy and others assigned "buy" ratings.
• During Q2, the company reported a loss of ($0.09) EPS and revenue of $1.99 million, exceeding estimates but reflecting a negative net margin of 1,144.97%.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report)'s stock price was up 9.1% during mid-day trading on Tuesday . The stock traded as high as $5.33 and last traded at $5.15. Approximately 5,554,109 shares changed hands during trading, a decline of 52% from the average daily volume of 11,596,211 shares. The stock had previously closed at $4.72.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TSHA shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Taysha Gene Therapies in a report on Wednesday, October 8th. Robert W. Baird boosted their price target on Taysha Gene Therapies from $7.00 to $12.00 and gave the company an "outperform" rating in a report on Thursday, October 2nd. Chardan Capital reissued a "buy" rating and set a $12.00 price target on shares of Taysha Gene Therapies in a report on Friday, October 17th. Bank of America began coverage on Taysha Gene Therapies in a research report on Friday, July 11th. They issued a "buy" rating and a $8.00 price objective on the stock. Finally, Needham & Company LLC restated a "buy" rating and issued a $10.00 price objective on shares of Taysha Gene Therapies in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $9.67.

Taysha Gene Therapies Stock Up 9.1%

The company has a 50-day moving average price of $3.56 and a 200 day moving average price of $2.76. The firm has a market capitalization of $1.40 billion, a PE ratio of -15.15 and a beta of 0.99. 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 announced its quarterly 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). The firm had revenue of $1.99 million for the quarter, compared to the consensus estimate of $1.61 million. Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 78.44%. Analysts forecast that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $3.23, for a total transaction of $646,000.00. Following the completion of the transaction, the insider owned 1,006,439 shares in the company, valued at $3,250,797.97. This trade represents a 16.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

Several institutional investors have recently added to or reduced their stakes in TSHA. Rhumbline Advisers grew its holdings in Taysha Gene Therapies by 7.0% during the 1st quarter. Rhumbline Advisers now owns 205,462 shares of the company's stock valued at $286,000 after buying an additional 13,383 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Taysha Gene Therapies during the 1st quarter valued at approximately $117,000. XTX Topco Ltd purchased a new position in Taysha Gene Therapies during the 1st quarter valued at approximately $282,000. Jefferies Financial Group Inc. purchased a new stake in Taysha Gene Therapies during the first quarter valued at approximately $341,000. Finally, BIT Capital GmbH purchased a new stake in Taysha Gene Therapies during the first quarter valued at approximately $163,000. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.