Taysha Gene Therapies' (TSHA) Buy Rating Reaffirmed at Needham & Company LLC

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They currently have a $6.00 price objective on the stock. Needham & Company LLC's price objective indicates a potential upside of 151.05% from the stock's previous close.

A number of other analysts have also commented on TSHA. Canaccord Genuity Group cut their price objective on shares of Taysha Gene Therapies from $7.00 to $6.00 and set a "buy" rating on the stock in a research report on Wednesday, August 14th. Chardan Capital reissued a "buy" rating and set a $7.00 target price on shares of Taysha Gene Therapies in a research report on Tuesday, August 13th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $6.38.

Taysha Gene Therapies Stock Performance

NASDAQ TSHA traded up $0.76 on Tuesday, reaching $2.39. The stock had a trading volume of 24,416,643 shares, compared to its average volume of 2,536,980. The company has a market cap of $489.81 million, a P/E ratio of -10.40 and a beta of 0.44. The firm has a fifty day moving average of $1.97 and a two-hundred day moving average of $2.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.22 and a quick ratio of 5.22. Taysha Gene Therapies has a 1-year low of $1.19 and a 1-year high of $4.32.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. The company had revenue of $1.11 million for the quarter, compared to the consensus estimate of $3.62 million. Taysha Gene Therapies had a negative return on equity of 168.91% and a negative net margin of 888.18%. During the same period last year, the firm earned ($0.38) EPS. On average, equities research analysts anticipate that Taysha Gene Therapies will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Avoro Capital Advisors LLC raised its holdings in shares of Taysha Gene Therapies by 328.2% during the first quarter. Avoro Capital Advisors LLC now owns 18,650,000 shares of the company's stock worth $53,526,000 after acquiring an additional 14,294,445 shares during the period. Artal Group S.A. boosted its position in Taysha Gene Therapies by 0.7% in the first quarter. Artal Group S.A. now owns 3,687,548 shares of the company's stock valued at $10,583,000 after buying an additional 24,444 shares during the last quarter. StemPoint Capital LP purchased a new position in shares of Taysha Gene Therapies in the 1st quarter valued at about $3,122,000. Quantum Private Wealth LLC lifted its position in shares of Taysha Gene Therapies by 5.1% in the third quarter. Quantum Private Wealth LLC now owns 767,616 shares of the company's stock valued at $1,543,000 after acquiring an additional 37,096 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Taysha Gene Therapies by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 462,867 shares of the company's stock valued at $930,000 after purchasing an additional 33,123 shares during the period. Hedge funds and other institutional investors own 77.70% of the company's stock.

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.