Canaccord Genuity Group Issues Positive Forecast for Taysha Gene Therapies (NASDAQ:TSHA) Stock Price

Taysha Gene Therapies (NASDAQ:TSHA) had its price objective hoisted by investment analysts at Canaccord Genuity Group from $6.00 to $8.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 258.74% from the company’s current price.

Several other equities analysts have also commented on the stock. Chardan Capital reaffirmed a “buy” rating and set a $7.00 price target on shares of Taysha Gene Therapies in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 target price on shares of Taysha Gene Therapies in a research report on Tuesday. Finally, JMP Securities reiterated a “market outperform” rating and set a $5.00 target price on shares of Taysha Gene Therapies in a report on Tuesday. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Taysha Gene Therapies has an average rating of “Buy” and a consensus target price of $6.63.

Taysha Gene Therapies Stock Down 1.8 %

TSHA stock opened at $2.23 on Friday. The stock has a market capitalization of $457.02 million, a PE ratio of 3.60 and a beta of 0.44. The company has a fifty day moving average of $1.98 and a 200-day moving average of $2.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.22 and a current ratio of 5.22. Taysha Gene Therapies has a one year low of $1.19 and a one year high of $4.32.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its earnings results on Monday, August 12th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Taysha Gene Therapies had a negative return on equity of 109.58% and a negative net margin of 229.67%. The firm had revenue of $1.11 million for the quarter, compared to analysts’ expectations of $3.62 million. During the same quarter in the prior year, the firm earned ($0.38) EPS. As a group, analysts expect that Taysha Gene Therapies will post -0.35 EPS for the current year.

Institutional Investors Weigh In On Taysha Gene Therapies

Institutional investors and hedge funds have recently bought and sold shares of the business. Avoro Capital Advisors LLC boosted its position in shares of Taysha Gene Therapies by 328.2% during the first quarter. Avoro Capital Advisors LLC now owns 18,650,000 shares of the company’s stock worth $53,526,000 after buying an additional 14,294,445 shares during the period. Artal Group S.A. grew its stake in shares of Taysha Gene Therapies by 0.7% in the first quarter. Artal Group S.A. now owns 3,687,548 shares of the company’s stock worth $10,583,000 after purchasing an additional 24,444 shares in the last quarter. StemPoint Capital LP acquired a new position in shares of Taysha Gene Therapies during the first quarter valued at $3,122,000. Quantum Private Wealth LLC raised its stake in shares of Taysha Gene Therapies by 5.1% during the third quarter. Quantum Private Wealth LLC now owns 767,616 shares of the company’s stock valued at $1,543,000 after purchasing an additional 37,096 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Taysha Gene Therapies by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 462,867 shares of the company’s stock valued at $930,000 after purchasing an additional 33,123 shares in 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.