Taysha Gene Therapies’ (TSHA) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Taysha Gene Therapies (NASDAQ:TSHA) in a research report report published on Tuesday, Benzinga reports. The firm currently has a $7.00 price objective on the stock.

Several other research analysts have also recently commented on TSHA. Needham & Company LLC reduced their target price on shares of Taysha Gene Therapies from $7.00 to $6.00 and set a buy rating for the company in a report on Monday. BMO Capital Markets assumed coverage on shares of Taysha Gene Therapies in a research note on Thursday, June 27th. They set an outperform rating and a $5.00 target price for the company. Piper Sandler cut their target price on shares of Taysha Gene Therapies from $9.00 to $7.00 and set an overweight rating for the company in a research note on Monday, July 1st. Cantor Fitzgerald reaffirmed an overweight rating and set a $7.00 price target on shares of Taysha Gene Therapies in a research report on Thursday, June 20th. Finally, Jefferies Financial Group reissued a buy rating and issued a $8.00 target price (up from $2.00) on shares of Taysha Gene Therapies in a report on Tuesday, May 14th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and an average price target of $6.22.

Taysha Gene Therapies Stock Performance

Shares of TSHA opened at $2.29 on Tuesday. Taysha Gene Therapies has a 12 month low of $1.27 and a 12 month high of $4.32. The firm has a fifty day simple moving average of $2.53 and a 200 day simple moving average of $2.55. The stock has a market capitalization of $428.28 million, a price-to-earnings ratio of -4.67 and a beta of 0.41. The company has a current ratio of 3.38, a quick ratio of 3.38 and a debt-to-equity ratio of 0.75.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its earnings results on Monday, August 12th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. Taysha Gene Therapies had a negative net margin of 833.60% and a negative return on equity of 782.81%. The business had revenue of $1.11 million during the quarter, compared to analysts’ expectations of $3.62 million. During the same quarter in the prior year, the company posted ($0.38) earnings per share. Research analysts forecast that Taysha Gene Therapies will post -0.41 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Paul B. Manning purchased 1,333,333 shares of Taysha Gene Therapies stock in a transaction dated Thursday, June 27th. The shares were bought at an average cost of $2.25 per share, for a total transaction of $2,999,999.25. Following the purchase, the insider now owns 1,333,333 shares in the company, valued at approximately $2,999,999.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Taysha Gene Therapies

Several hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. acquired a new position in shares of Taysha Gene Therapies in the 4th quarter worth approximately $28,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Taysha Gene Therapies in the 4th quarter worth approximately $31,000. Principal Financial Group Inc. acquired a new position in shares of Taysha Gene Therapies in the 2nd quarter worth approximately $48,000. Cannon Global Investment Management LLC acquired a new position in shares of Taysha Gene Therapies in the 1st quarter worth approximately $69,000. Finally, Scientech Research LLC acquired a new position in shares of Taysha Gene Therapies in the 2nd quarter worth approximately $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.