Taysha Gene Therapies (NASDAQ:TSHA) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Taysha Gene Therapies (NASDAQ:TSHA) in a report released on Tuesday morning, Benzinga reports. They currently have a $7.00 price target on the stock.

TSHA has been the subject of several other reports. Cantor Fitzgerald reiterated an overweight rating and issued a $7.00 target price on shares of Taysha Gene Therapies in a report on Thursday, June 20th. JMP Securities reiterated a market outperform rating and issued a $5.00 target price on shares of Taysha Gene Therapies in a report on Thursday, June 20th. Jefferies Financial Group reiterated a buy rating and issued a $8.00 target price (up from $2.00) on shares of Taysha Gene Therapies in a report on Tuesday, May 14th. BMO Capital Markets started coverage on shares of Taysha Gene Therapies in a report on Thursday, June 27th. They issued an outperform rating and a $5.00 target price for the company. Finally, Piper Sandler decreased their price target on shares of Taysha Gene Therapies from $9.00 to $7.00 and set an overweight rating for the company in a report on Monday, July 1st. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $6.60.

Taysha Gene Therapies Stock Performance

Shares of TSHA opened at $2.30 on Tuesday. The firm’s 50 day moving average is $2.85 and its 200-day moving average is $2.50. The stock has a market capitalization of $430.15 million, a P/E ratio of -4.69 and a beta of 0.41. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.38 and a quick ratio of 3.38. Taysha Gene Therapies has a 12-month low of $0.62 and a 12-month high of $4.32.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its earnings results on Tuesday, May 14th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. Taysha Gene Therapies had a negative net margin of 833.60% and a negative return on equity of 782.81%. The company had revenue of $3.41 million during the quarter, compared to analysts’ expectations of $3.70 million. During the same period last year, the company posted ($0.28) earnings per share. Equities research analysts anticipate that Taysha Gene Therapies will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Taysha Gene Therapies news, major shareholder Paul B. Manning acquired 1,333,333 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were purchased at an average price of $2.25 per share, with a total value of $2,999,999.25. Following the completion of the transaction, the insider now owns 1,333,333 shares in the company, valued at $2,999,999.25. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 2.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Howard Capital Management Inc. bought a new position in Taysha Gene Therapies during the fourth quarter valued at approximately $25,000. Victory Capital Management Inc. bought a new position in Taysha Gene Therapies during the fourth quarter valued at approximately $28,000. Dynamic Technology Lab Private Ltd bought a new position in Taysha Gene Therapies during the fourth quarter valued at approximately $31,000. China Universal Asset Management Co. Ltd. bought a new position in Taysha Gene Therapies during the fourth quarter valued at approximately $38,000. Finally, Cannon Global Investment Management LLC bought a new position in Taysha Gene Therapies during the first quarter valued at approximately $69,000. 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.