Taysha Gene Therapies (NASDAQ:TSHA) PT Lowered to $6.00 at Needham & Company LLC

Taysha Gene Therapies (NASDAQ:TSHA) had its price target reduced by research analysts at Needham & Company LLC from $7.00 to $6.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 200.00% from the stock’s current price.

A number of other research firms also recently commented on TSHA. Piper Sandler decreased their target price on Taysha Gene Therapies from $9.00 to $7.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of Taysha Gene Therapies in a report on Thursday, June 20th. JMP Securities reissued a “market outperform” rating and set a $5.00 target price on shares of Taysha Gene Therapies in a report on Thursday, June 20th. Chardan Capital reaffirmed a “buy” rating and issued a $7.00 price target on shares of Taysha Gene Therapies in a report on Tuesday, June 18th. Finally, BMO Capital Markets started coverage on Taysha Gene Therapies in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price objective for the company. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Taysha Gene Therapies presently has a consensus rating of “Buy” and a consensus price target of $6.50.

Taysha Gene Therapies Stock Performance

TSHA stock traded down $0.09 during trading on Monday, reaching $2.00. The company had a trading volume of 747,522 shares, compared to its average volume of 2,520,671. The company has a market cap of $374.04 million, a price-to-earnings ratio of -4.12 and a beta of 0.41. Taysha Gene Therapies has a twelve month low of $1.27 and a twelve month high of $4.32. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.38 and a current ratio of 3.38. The firm has a 50-day simple moving average of $2.65 and a 200-day simple moving average of $2.55.

Taysha Gene Therapies (NASDAQ:TSHA) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) 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 $3.41 million during the quarter, compared to the consensus estimate of $3.70 million. During the same period in the previous year, the firm posted ($0.28) earnings per share. As a group, sell-side analysts expect that Taysha Gene Therapies will post -0.41 earnings per share for the current year.

Insider Transactions at Taysha Gene Therapies

In other news, major shareholder Paul B. Manning acquired 1,333,333 shares of Taysha Gene Therapies stock in a transaction that occurred on Thursday, June 27th. The stock was purchased at an average cost of $2.25 per share, with a total value of $2,999,999.25. Following the purchase, the insider now owns 1,333,333 shares in the company, valued at $2,999,999.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. purchased a new position in Taysha Gene Therapies during the fourth quarter worth about $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 stake in Taysha Gene Therapies in the 2nd quarter valued at approximately $48,000. Cannon Global Investment Management LLC acquired a new position in Taysha Gene Therapies during the first quarter worth $69,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Taysha Gene Therapies by 66.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 35,908 shares of the company’s stock worth $103,000 after buying an additional 14,286 shares during the period. Institutional investors and hedge funds own 77.70% of the company’s stock.

Taysha Gene Therapies Company Profile

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.