Taysha Gene Therapies’ (TSHA) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Taysha Gene Therapies (NASDAQ:TSHA) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $8.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. Chardan Capital increased their price objective on Taysha Gene Therapies from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Citigroup reiterated an “outperform” rating on shares of Taysha Gene Therapies in a research note on Thursday, May 29th. JMP Securities boosted their price target on Taysha Gene Therapies from $5.00 to $6.00 and gave the company a “market outperform” rating in a research note on Thursday, May 29th. Canaccord Genuity Group raised their target price on shares of Taysha Gene Therapies from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 target price on shares of Taysha Gene Therapies in a research note on Monday, April 28th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $7.57.

Taysha Gene Therapies Trading Down 0.7%

Shares of NASDAQ:TSHA opened at $2.65 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.51 and a current ratio of 5.51. The stock has a market capitalization of $568.85 million, a price-to-earnings ratio of 4.21 and a beta of 1.04. Taysha Gene Therapies has a 52-week low of $1.05 and a 52-week high of $4.32. The stock’s 50-day simple moving average is $2.15 and its two-hundred day simple moving average is $1.94.

Taysha Gene Therapies (NASDAQ:TSHA) last released its earnings results on Thursday, May 15th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). Taysha Gene Therapies had a negative net margin of 229.67% and a negative return on equity of 106.36%. The firm had revenue of $2.30 million for the quarter, compared to the consensus estimate of $1.48 million. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. Analysts expect that Taysha Gene Therapies will post -0.35 EPS for the current year.

Insider Activity

In other news, major shareholder Paul B. Manning acquired 750,000 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was acquired at an average cost of $2.75 per share, for a total transaction of $2,062,500.00. Following the acquisition, the insider now directly owns 2,841,704 shares in the company, valued at approximately $7,814,686. This represents a 35.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Quantum Private Wealth LLC increased its holdings in shares of Taysha Gene Therapies by 3.6% in the 4th quarter. Quantum Private Wealth LLC now owns 794,976 shares of the company’s stock worth $1,375,000 after acquiring an additional 27,360 shares during the period. Bank of New York Mellon Corp lifted its stake in Taysha Gene Therapies by 33.1% during the fourth quarter. Bank of New York Mellon Corp now owns 450,261 shares of the company’s stock valued at $779,000 after buying an additional 111,989 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Taysha Gene Therapies by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 474,257 shares of the company’s stock worth $820,000 after purchasing an additional 11,390 shares in the last quarter. E Fund Management Co. Ltd. purchased a new stake in Taysha Gene Therapies in the 4th quarter worth about $31,000. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Taysha Gene Therapies by 110.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 59,069 shares of the company’s stock worth $102,000 after purchasing an additional 31,000 shares during the period. 77.70% of the stock is currently owned by institutional investors.

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.