Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Up 7.4% – Time to Buy?

Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA) were up 7.4% during trading on Tuesday . The stock traded as high as $5.78 and last traded at $5.7760. Approximately 1,894,039 shares traded hands during trading, a decline of 34% from the average daily volume of 2,891,302 shares. The stock had previously closed at $5.38.

Analysts Set New Price Targets

Several research analysts have issued reports on TSHA shares. Wall Street Zen lowered shares of Taysha Gene Therapies from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Citizens Jmp reiterated a “market outperform” rating and set a $11.00 price objective on shares of Taysha Gene Therapies in a research report on Thursday, July 2nd. Bank of America raised their price objective on Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Needham & Company LLC restated a “buy” rating and issued a $12.00 target price on shares of Taysha Gene Therapies in a report on Tuesday, June 30th. Finally, BMO Capital Markets boosted their target price on Taysha Gene Therapies from $10.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $12.62.

Taysha Gene Therapies Stock Performance

The firm’s fifty day simple moving average is $6.13 and its 200 day simple moving average is $5.36. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -15.30 and a beta of 1.17. The company has a debt-to-equity ratio of 0.23, a current ratio of 14.04 and a quick ratio of 14.04.

Taysha Gene Therapies (NASDAQ:TSHA) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). On average, sell-side analysts forecast that Taysha Gene Therapies, Inc. will post -0.49 EPS for the current year.

Insiders Place Their Bets

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of Taysha Gene Therapies stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $6.24, for a total transaction of $1,248,000.00. Following the transaction, the insider directly owned 936,410 shares in the company, valued at approximately $5,843,198.40. The trade was a 17.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.48% of the company’s stock.

Institutional Trading of Taysha Gene Therapies

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in shares of Taysha Gene Therapies by 325.6% during the first quarter. AQR Capital Management LLC now owns 107,899 shares of the company’s stock valued at $150,000 after buying an additional 82,545 shares in the last quarter. Rhumbline Advisers boosted its position in Taysha Gene Therapies by 13.5% during the 2nd quarter. Rhumbline Advisers now owns 233,256 shares of the company’s stock worth $539,000 after acquiring an additional 27,794 shares during the period. Prudential Financial Inc. boosted its position in Taysha Gene Therapies by 50.5% during the 2nd quarter. Prudential Financial Inc. now owns 22,790 shares of the company’s stock worth $53,000 after acquiring an additional 7,650 shares during the period. Invesco Ltd. grew its stake in Taysha Gene Therapies by 27.4% during the 2nd quarter. Invesco Ltd. now owns 203,671 shares of the company’s stock valued at $470,000 after acquiring an additional 43,772 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Taysha Gene Therapies during the 2nd quarter valued at about $184,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

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.