Wells Fargo & Company Raises 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 - Free Report) had its price objective boosted by Wells Fargo & Company from $7.50 to $8.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

TSHA has been the topic of a number of other reports. 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 note on Thursday, May 29th. Citigroup restated an "outperform" rating on shares of Taysha Gene Therapies in a research note on Thursday, May 29th. Bank of America assumed coverage on Taysha Gene Therapies in a research note on Friday, July 11th. They issued a "buy" rating and a $8.00 price target on the stock. Needham & Company LLC restated a "buy" rating and issued a $8.00 price target on shares of Taysha Gene Therapies in a research note on Tuesday, July 1st. Finally, 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 note on Tuesday, June 3rd. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $8.29.

Taysha Gene Therapies Stock Down 0.3%

TSHA stock traded down $0.01 during midday trading on Wednesday, hitting $2.93. The company's stock had a trading volume of 3,081,054 shares, compared to its average volume of 2,894,154. The company has a market cap of $628.95 million, a PE ratio of -8.62 and a beta of 0.98. Taysha Gene Therapies has a 12 month low of $1.05 and a 12 month high of $3.31. The company has a current ratio of 12.48, a quick ratio of 12.48 and a debt-to-equity ratio of 0.17. The firm's 50-day moving average is $2.60 and its 200-day moving average is $2.12.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The business had revenue of $1.99 million during 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%. On average, equities research analysts forecast that Taysha Gene Therapies will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 bought at an average cost of $2.75 per share, with a total value of $2,062,500.00. Following the acquisition, the insider owned 2,841,704 shares in the company, valued at $7,814,686. This trade represents a 35.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.78% of the company's stock.

Institutional Investors Weigh In On Taysha Gene Therapies

Institutional investors have recently bought and sold shares of the business. E Fund Management Co. Ltd. purchased a new stake in Taysha Gene Therapies in the 2nd quarter worth $31,000. Ground Swell Capital LLC purchased a new stake in Taysha Gene Therapies in the 4th quarter worth $25,000. May Hill Capital LLC purchased a new stake in Taysha Gene Therapies in the 2nd quarter worth $37,000. Tower Research Capital LLC TRC increased its stake in Taysha Gene Therapies by 156.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company's stock worth $41,000 after buying an additional 10,742 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Taysha Gene Therapies by 51.9% during the second quarter. BNP Paribas Financial Markets now owns 18,591 shares of the company's stock valued at $43,000 after purchasing an additional 6,350 shares in the last quarter. Hedge funds and other 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.