Taysha Gene Therapies (NASDAQ:TSHA) Given New $10.00 Price Target at Needham & Company LLC

Taysha Gene Therapies (NASDAQ:TSHA) had its price target increased by Needham & Company LLC from $8.00 to $10.00 in a research note released on Thursday, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on the company. Bank of America began coverage on Taysha Gene Therapies in a research note on Friday, July 11th. They issued a “buy” rating and a $8.00 target price for the company. Chardan Capital boosted their price objective on Taysha Gene Therapies from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Finally, Wells Fargo & Company raised their target price on shares of Taysha Gene Therapies from $7.50 to $8.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Taysha Gene Therapies Stock Down 2.5%

Taysha Gene Therapies stock opened at $4.76 on Thursday. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -14.00 and a beta of 0.99. The company’s 50 day simple moving average is $3.03 and its 200 day simple moving average is $2.48. The company has a debt-to-equity ratio of 0.17, a current ratio of 12.48 and a quick ratio of 12.48. Taysha Gene Therapies has a fifty-two week low of $1.05 and a fifty-two week high of $5.40.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its earnings results on Tuesday, August 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The firm 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%. As a group, sell-side analysts anticipate that Taysha Gene Therapies will post -0.35 EPS for the current year.

Insider Transactions at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $3.23, for a total value of $646,000.00. Following the completion of the sale, the insider directly owned 1,006,439 shares of the company’s stock, valued at $3,250,797.97. This trade represents a 16.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Taysha Gene Therapies

Hedge funds have recently added to or reduced their stakes in the business. Octagon Capital Advisors LP boosted its position in Taysha Gene Therapies by 17.7% during the second quarter. Octagon Capital Advisors LP now owns 12,592,500 shares of the company’s stock worth $29,089,000 after purchasing an additional 1,892,500 shares during the period. Jefferies Financial Group Inc. lifted its stake in shares of Taysha Gene Therapies by 4,105.3% during the 2nd quarter. Jefferies Financial Group Inc. now owns 10,313,733 shares of the company’s stock worth $23,825,000 after buying an additional 10,068,479 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Taysha Gene Therapies during the 2nd quarter worth about $11,178,000. Tybourne Capital Management HK Ltd. grew its stake in Taysha Gene Therapies by 10.7% in the 2nd quarter. Tybourne Capital Management HK Ltd. now owns 4,095,000 shares of the company’s stock valued at $9,459,000 after buying an additional 395,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Taysha Gene Therapies by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 3,793,572 shares of the company’s stock valued at $8,765,000 after buying an additional 128,840 shares during the last quarter. Institutional investors and hedge funds own 77.70% of the company’s stock.

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.