Taysha Gene Therapies (NASDAQ:TSHA) Trading Up 2.9% – Here’s Why

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shares were up 2.9% during trading on Tuesday . The stock traded as high as $4.23 and last traded at $4.2390. Approximately 149,012 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 3,867,534 shares. The stock had previously closed at $4.12.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TSHA shares. Chardan Capital reiterated a “buy” rating and set a $12.00 price target on shares of Taysha Gene Therapies in a research report on Wednesday, November 5th. Raymond James Financial initiated coverage on shares of Taysha Gene Therapies in a research report on Tuesday, October 21st. They set a “strong-buy” rating and a $13.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price objective on shares of Taysha Gene Therapies in a research note on Friday, November 14th. Citizens Jmp increased their price target on Taysha Gene Therapies from $6.00 to $8.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 5th. Finally, JMP Securities set a $8.00 price objective on Taysha Gene Therapies in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.30.

Taysha Gene Therapies Price Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 10.48 and a quick ratio of 10.48. The company has a market cap of $1.09 billion, a PE ratio of -12.09 and a beta of 1.00. The stock has a fifty day moving average price of $4.17 and a 200-day moving average price of $3.20.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). Taysha Gene Therapies had a negative return on equity of 67.26% and a negative net margin of 1,144.97%. On average, equities analysts expect that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current year.

Insider Transactions at Taysha Gene Therapies

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

Hedge Funds Weigh In On Taysha Gene Therapies

A number of hedge funds have recently modified their holdings of TSHA. ST Germain D J Co. Inc. boosted its position in Taysha Gene Therapies by 81.8% during the third quarter. ST Germain D J Co. Inc. now owns 9,633 shares of the company’s stock valued at $32,000 after purchasing an additional 4,333 shares during the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of Taysha Gene Therapies during the 3rd quarter worth about $40,000. Marex Group plc bought a new stake in shares of Taysha Gene Therapies in the 2nd quarter valued at approximately $29,000. E Fund Management Co. Ltd. acquired a new position in Taysha Gene Therapies in the second quarter worth approximately $31,000. Finally, Allegheny Financial Group bought a new position in Taysha Gene Therapies during the third quarter valued at approximately $49,000. 77.70% of the stock is owned by institutional investors and hedge funds.

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.