Wells Fargo & Company Increases Taysha Gene Therapies (NASDAQ:TSHA) Price Target to $8.00

Key Points

• Wells Fargo & Company raised the price target for Taysha Gene Therapies from $7.50 to $8.00, indicating a potential upside of 174.91% based on the company's previous close.
• Multiple analysts have shown positive sentiment, with ratings ranging from "buy" to "outperform," and the average consensus target price for Taysha Gene Therapies is currently $8.29.
• Taysha Gene Therapies reported a revenue of $1.99 million for the last quarter, surpassing estimates, but had a loss of ($0.09) earnings per share, missing expectations.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) had its price objective raised by stock analysts at Wells Fargo & Company from $7.50 to $8.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 174.91% from the company's previous close.

Other research analysts have also recently issued research reports about the company. Citigroup reiterated an "outperform" rating on shares of Taysha Gene Therapies in a research report on Thursday, May 29th. Chardan Capital raised their price target on Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Tuesday. 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 report on Tuesday, June 3rd. 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 target on the stock. Finally, JMP Securities raised their price target on Taysha Gene Therapies from $5.00 to $6.00 and gave the stock a "market outperform" rating in a research report on Thursday, May 29th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $8.29.

Taysha Gene Therapies Stock Up 5.4%

TSHA stock opened at $2.91 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.35 and a quick ratio of 5.35. The stock has a market capitalization of $624.66 million, a price-to-earnings ratio of -8.56 and a beta of 0.98. The business's fifty day moving average price is $2.59 and its two-hundred day moving average price is $2.09. Taysha Gene Therapies has a fifty-two week low of $1.05 and a fifty-two week high of $3.31.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate 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 return on equity of 104.93% and a negative net margin of 1,201.08%. On average, equities analysts anticipate that Taysha Gene Therapies will post -0.35 earnings per share for the current year.

Insider Transactions at Taysha Gene Therapies

In other Taysha Gene Therapies news, major shareholder Paul B. Manning bought 750,000 shares of the firm's stock in a transaction 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 directly owned 2,841,704 shares in the company, valued at approximately $7,814,686. The trade was a 35.86% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ground Swell Capital LLC bought a new position in Taysha Gene Therapies in the fourth quarter valued at about $25,000. May Hill Capital LLC bought a new stake in shares of Taysha Gene Therapies during the second quarter worth about $37,000. Hsbc Holdings PLC grew its holdings in shares of Taysha Gene Therapies by 65.6% during the fourth quarter. Hsbc Holdings PLC now owns 20,391 shares of the company's stock worth $36,000 after purchasing an additional 8,076 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Taysha Gene Therapies by 50.5% during the second quarter. Prudential Financial Inc. now owns 22,790 shares of the company's stock worth $53,000 after purchasing an additional 7,650 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in shares of Taysha Gene Therapies during the fourth quarter worth about $40,000. 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.

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