Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Taysha Gene Therapies (NASDAQ:TSHA - Free Report) had its target price increased by Canaccord Genuity Group from $6.00 to $8.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

TSHA has been the subject of a number of other research reports. JMP Securities reiterated a "market outperform" rating and set a $5.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating and set a $7.00 price target on shares of Taysha Gene Therapies in a report on Tuesday. Needham & Company LLC reissued a "buy" rating and set a $6.00 price objective on shares of Taysha Gene Therapies in a research note on Tuesday. Finally, Chardan Capital restated a "buy" rating and set a $7.00 target price on shares of Taysha Gene Therapies in a research report on Thursday. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Taysha Gene Therapies has a consensus rating of "Buy" and an average price target of $6.63.

Taysha Gene Therapies Price Performance

TSHA traded down $0.21 during midday trading on Friday, reaching $2.06. 7,298,381 shares of the company's stock were exchanged, compared to its average volume of 2,617,602. Taysha Gene Therapies has a 1-year low of $1.19 and a 1-year high of $4.32. The stock has a market capitalization of $422.18 million, a PE ratio of 3.32 and a beta of 0.44. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.22 and a quick ratio of 5.22. The business's 50-day moving average price is $1.98 and its 200 day moving average price is $2.39.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last announced its earnings results on Monday, August 12th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. Taysha Gene Therapies had a negative return on equity of 109.58% and a negative net margin of 229.67%. The firm had revenue of $1.11 million for the quarter, compared to analysts' expectations of $3.62 million. During the same quarter in the prior year, the firm earned ($0.38) EPS. As a group, equities analysts anticipate that Taysha Gene Therapies will post -0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Taysha Gene Therapies

Large investors have recently added to or reduced their stakes in the company. Creative Planning purchased a new stake in Taysha Gene Therapies during the 3rd quarter worth approximately $28,000. Principal Financial Group Inc. bought a new stake in shares of Taysha Gene Therapies in the second quarter worth $48,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Taysha Gene Therapies by 79.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 39,417 shares of the company's stock valued at $79,000 after purchasing an additional 17,446 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Taysha Gene Therapies during the third quarter worth about $85,000. Finally, Scientech Research LLC acquired a new position in Taysha Gene Therapies in the second quarter worth about $97,000. 77.70% of the stock is owned by institutional investors and hedge funds.

About Taysha Gene Therapies

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.