Taysha Gene Therapies (NASDAQ:TSHA) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Taysha Gene Therapies (NASDAQ:TSHA) in a research report released on Tuesday morning,Benzinga reports. They currently have a $8.00 price target on the stock.

A number of other research firms have also commented on TSHA. JMP Securities raised their price objective 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. Canaccord Genuity Group increased their price target on Taysha Gene Therapies from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price target on shares of Taysha Gene Therapies in a research report on Monday, April 28th. Chardan Capital increased their price target on shares of Taysha Gene Therapies from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Taysha Gene Therapies in a report on Thursday, May 29th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Taysha Gene Therapies presently has an average rating of “Buy” and an average price target of $7.57.

Taysha Gene Therapies Stock Down 0.7%

NASDAQ TSHA opened at $2.65 on Tuesday. Taysha Gene Therapies has a 52 week low of $1.05 and a 52 week high of $4.32. The stock has a fifty day moving average of $2.15 and a 200-day moving average of $1.94. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.51 and a current ratio of 5.51. The stock has a market capitalization of $568.85 million, a P/E ratio of 4.21 and a beta of 1.04.

Taysha Gene Therapies (NASDAQ:TSHA) last posted its earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $2.30 million during the quarter, compared to analysts’ expectations of $1.48 million. Taysha Gene Therapies had a negative return on equity of 106.36% and a negative net margin of 229.67%. During the same period in the prior year, the business earned ($0.10) EPS. On average, equities research analysts forecast that Taysha Gene Therapies will post -0.35 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Paul B. Manning purchased 750,000 shares of the stock in a transaction on Friday, May 30th. The shares were acquired at an average price of $2.75 per share, with a total value of $2,062,500.00. Following the completion of the acquisition, the insider now directly owns 2,841,704 shares of the company’s stock, valued at $7,814,686. This trade represents a 35.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

Institutional investors have recently bought and sold shares of the stock. Ground Swell Capital LLC bought a new stake in shares of Taysha Gene Therapies in the 4th quarter worth about $25,000. Cibc World Markets Corp acquired a new stake in Taysha Gene Therapies in the fourth quarter worth about $28,000. E Fund Management Co. Ltd. purchased a new stake in shares of Taysha Gene Therapies during the fourth quarter valued at $31,000. Hsbc Holdings PLC increased its holdings in Taysha Gene Therapies by 65.6% in the 4th quarter. Hsbc Holdings PLC now owns 20,391 shares of the company’s stock worth $36,000 after buying an additional 8,076 shares during the period. Finally, AXQ Capital LP acquired a new position in shares of Taysha Gene Therapies in the 4th quarter valued at about $39,000. 77.70% of the stock is owned by hedge funds and other institutional investors.

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.