Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Up 6.3% - Still a Buy?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report)'s share price rose 6.3% during mid-day trading on Friday . The company traded as high as $2.54 and last traded at $2.53. Approximately 427,059 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 2,827,586 shares. The stock had previously closed at $2.38.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TSHA. Canaccord Genuity Group increased their target price on shares of Taysha Gene Therapies from $6.00 to $8.00 and gave the company a "buy" rating in a research report on Friday, November 15th. JMP Securities reiterated a "market outperform" rating and set a $5.00 price objective on shares of Taysha Gene Therapies in a report on Tuesday, November 12th. Needham & Company LLC restated a "buy" rating and set a $6.00 target price on shares of Taysha Gene Therapies in a research note on Tuesday, November 12th. Chardan Capital reiterated a "buy" rating and issued a $7.00 price target on shares of Taysha Gene Therapies in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $7.00 price target on shares of Taysha Gene Therapies in a research note on Tuesday, November 12th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Taysha Gene Therapies currently has a consensus rating of "Buy" and an average target price of $6.63.

Taysha Gene Therapies Stock Performance

The company has a current ratio of 5.51, a quick ratio of 5.51 and a debt-to-equity ratio of 0.48. The firm has a market cap of $503.14 million, a price-to-earnings ratio of 3.94 and a beta of 0.79. The company has a fifty day moving average price of $2.11 and a 200-day moving average price of $2.38.

Institutional Investors Weigh In On Taysha Gene Therapies

A number of institutional investors have recently modified their holdings of the business. Creative Planning purchased a new stake in Taysha Gene Therapies during the 3rd quarter worth approximately $28,000. Principal Financial Group Inc. acquired a new stake in shares of Taysha Gene Therapies in the second quarter worth approximately $48,000. China Universal Asset Management Co. Ltd. increased its position in shares of Taysha Gene Therapies by 79.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 39,417 shares of the company's stock worth $79,000 after purchasing an additional 17,446 shares in the last quarter. Intech Investment Management LLC acquired a new position in Taysha Gene Therapies in the 3rd quarter valued at $85,000. Finally, Scientech Research LLC purchased a new position in Taysha Gene Therapies in the 2nd quarter valued at $97,000. 77.70% of the stock is currently 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.