Taysha Gene Therapies (NASDAQ:TSHA) Stock Jumps 5.7% – Still a Buy?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shares rose 5.7% during mid-day trading on Monday. The company traded as high as $4.91 and last traded at $4.9360. Approximately 1,725,473 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 2,924,317 shares. The stock had previously closed at $4.67.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TSHA. Bank of America raised their price target on shares of Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Pivotal Research set a $14.00 price objective on Taysha Gene Therapies in a research report on Tuesday, June 23rd. Citigroup restated an “outperform” rating on shares of Taysha Gene Therapies in a research report on Tuesday, June 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Taysha Gene Therapies in a research note on Monday, September 21st. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $11.00 price target on shares of Taysha Gene Therapies in a report on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $12.77.

Taysha Gene Therapies Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 17.76 and a current ratio of 17.76. The stock has a market cap of $1.63 billion, a PE ratio of -12.00 and a beta of 1.19. The stock’s 50-day moving average is $5.70 and its two-hundred day moving average is $5.68.

Taysha Gene Therapies (NASDAQ:TSHA) last posted its earnings results on Tuesday, August 11th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). On average, equities analysts predict that Taysha Gene Therapies, Inc. will post -0.52 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Sukumar Nagendran sold 200,000 shares of the firm’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $6.24, for a total transaction of $1,248,000.00. Following the completion of the transaction, the insider directly owned 936,410 shares in the company, valued at $5,843,198.40. This trade represents a 17.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.48% of the stock is owned by company insiders.

Institutional Trading of Taysha Gene Therapies

Several hedge funds have recently made changes to their positions in TSHA. Seven Fleet Capital Management LP increased its stake in Taysha Gene Therapies by 274.2% during the 1st quarter. Seven Fleet Capital Management LP now owns 625,708 shares of the company’s stock worth $2,797,000 after buying an additional 458,485 shares during the period. Renaissance Technologies LLC boosted its position in Taysha Gene Therapies by 141.5% in the 1st quarter. Renaissance Technologies LLC now owns 413,203 shares of the company’s stock valued at $1,847,000 after buying an additional 242,103 shares during the period. Rice Hall James & Associates LLC grew its stake in shares of Taysha Gene Therapies by 53.0% in the first quarter. Rice Hall James & Associates LLC now owns 1,944,671 shares of the company’s stock worth $8,693,000 after acquiring an additional 674,026 shares in the last quarter. Bank of America Corp DE increased its position in shares of Taysha Gene Therapies by 45.5% during the first quarter. Bank of America Corp DE now owns 1,677,046 shares of the company’s stock worth $7,496,000 after acquiring an additional 524,366 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Taysha Gene Therapies during the second quarter worth $4,753,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

Taysha Gene Therapies Company Profile

Taysha Gene Therapies, Inc is a clinical-stage biotechnology company developing gene therapies for severe monogenic diseases of the central nervous system. The company focuses on disorders in which a missing or defective gene contributes to neurological disease and uses adeno-associated virus (AAV) vectors to deliver functional genetic material to targeted cells.

Taysha’s development programs have included TSHA-102, an investigational gene therapy for Rett syndrome, and earlier programs such as TSHA-120 for giant axonal neuropathy and TSHA-101 for GM1 gangliosidosis.