Taysha Gene Therapies (NASDAQ:TSHA) Hits New 12-Month High – Here’s What Happened

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $6.73 and last traded at $6.72, with a volume of 2992418 shares trading hands. The stock had previously closed at $6.22.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TSHA. Wells Fargo & Company increased their target price on Taysha Gene Therapies from $8.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Chardan Capital reiterated a “buy” rating and set a $12.00 target price on shares of Taysha Gene Therapies in a research report on Thursday, March 19th. Raymond James Financial reiterated a “strong-buy” rating and set a $13.00 target price on shares of Taysha Gene Therapies in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Taysha Gene Therapies in a research report on Friday, March 27th. Finally, Truist Financial upgraded Taysha Gene Therapies to a “strong-buy” rating in a report on Wednesday, March 25th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $11.64.

Taysha Gene Therapies Stock Down 0.1%

The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -18.80 and a beta of 1.10. The business has a 50 day simple moving average of $4.78 and a 200-day simple moving average of $4.84. The company has a debt-to-equity ratio of 0.20, a quick ratio of 12.23 and a current ratio of 12.23.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its quarterly earnings data on Thursday, March 19th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The business had revenue of $5.49 million for the quarter, compared to analyst estimates of $1.89 million. On average, equities analysts expect that Taysha Gene Therapies, Inc. will post -0.41 EPS for the current year.

Insider Buying and Selling at Taysha Gene Therapies

In other Taysha Gene Therapies news, CFO Kamran Alam sold 23,849 shares of Taysha Gene Therapies stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $4.61, for a total value of $109,943.89. Following the completion of the transaction, the chief financial officer directly owned 1,443,786 shares of the company’s stock, valued at $6,655,853.46. The trade was a 1.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sean P. Nolan sold 41,312 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $4.61, for a total value of $190,448.32. Following the transaction, the chief executive officer directly owned 2,908,257 shares of the company’s stock, valued at approximately $13,407,064.77. This represents a 1.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 293,734 shares of company stock valued at $1,323,965 in the last three months. 3.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vestal Point Capital LP lifted its stake in Taysha Gene Therapies by 150.0% during the fourth quarter. Vestal Point Capital LP now owns 13,750,000 shares of the company’s stock worth $75,625,000 after purchasing an additional 8,250,000 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in Taysha Gene Therapies during the second quarter worth approximately $11,178,000. Barclays PLC lifted its stake in Taysha Gene Therapies by 1,042.8% during the third quarter. Barclays PLC now owns 5,148,112 shares of the company’s stock worth $16,834,000 after purchasing an additional 4,697,611 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Taysha Gene Therapies during the fourth quarter worth approximately $20,471,000. Finally, State Street Corp lifted its stake in Taysha Gene Therapies by 49.1% during the fourth quarter. State Street Corp now owns 10,790,084 shares of the company’s stock worth $59,345,000 after purchasing an additional 3,553,619 shares during the last quarter. 77.70% of the stock is owned by institutional investors and hedge funds.

About Taysha Gene Therapies

Taysha Gene Therapies, Inc (NASDAQ: TSHA) is a clinical-stage biotechnology company focused on developing gene therapies for rare monogenic diseases of the central nervous system. Using a proprietary adeno-associated viral (AAV) vector platform, the company engineers novel capsids and regulatory elements to optimize delivery and expression of therapeutic genes. Its pipeline features lead programs such as TSHA-102 for GM2 gangliosidoses (Tay–Sachs and Sandhoff diseases), TSHA-101 for GM1 gangliosidosis and TSHA-103 for aromatic l-amino acid decarboxylase (AADC) deficiency, alongside earlier-stage candidates targeting other life-threatening pediatric CNS disorders.

Founded in 2019 and headquartered in Dallas, Texas, Taysha Gene Therapies completed its initial public offering in May 2021.