Taysha Gene Therapies (NASDAQ:TSHA) Shares Gap Up – Here’s Why

Taysha Gene Therapies, Inc. (NASDAQ:TSHA)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $5.71, but opened at $5.92. Taysha Gene Therapies shares last traded at $5.9850, with a volume of 305,924 shares trading hands.

Analysts Set New Price Targets

TSHA has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of Taysha Gene Therapies in a report on Friday, October 17th. Citizens Jmp upped their target price on shares of Taysha Gene Therapies from $6.00 to $8.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Taysha Gene Therapies in a research report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 price target on shares of Taysha Gene Therapies in a research note on Friday, November 14th. Finally, Robert W. Baird increased their price objective on Taysha Gene Therapies from $7.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.42.

Taysha Gene Therapies Trading Up 4.0%

The firm’s 50 day moving average is $4.80 and its 200 day moving average is $3.62. 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 capitalization of $1.63 billion, a PE ratio of -18.02 and a beta of 1.06.

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

Insider Activity

In related news, insider Sukumar Nagendran sold 260,047 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $4.51, for a total transaction of $1,172,811.97. Following the transaction, the insider owned 1,006,439 shares in the company, valued at $4,539,039.89. The trade was a 20.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.78% of the stock is owned by insiders.

Institutional Trading of Taysha Gene Therapies

Large investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. grew its holdings 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 acquiring an additional 10,068,479 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of Taysha Gene Therapies during the second quarter valued at approximately $11,178,000. Barclays PLC grew its stake in Taysha Gene Therapies by 1,042.8% in 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 period. MPM Bioimpact LLC bought a new position in Taysha Gene Therapies in the second quarter worth $6,823,000. Finally, Vestal Point Capital LP raised its holdings in Taysha Gene Therapies by 83.3% in the third quarter. Vestal Point Capital LP now owns 5,500,000 shares of the company’s stock worth $17,985,000 after purchasing an additional 2,500,000 shares in the last quarter. 77.70% of the stock is owned by institutional investors.

Taysha Gene Therapies Company Profile

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.