Taysha Gene Therapies (NASDAQ:TSHA) Earns “Buy” Rating from Needham & Company LLC

Taysha Gene Therapies (NASDAQ:TSHA)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $6.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 268.10% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group dropped their target price on Taysha Gene Therapies from $7.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Chardan Capital reissued a “buy” rating and set a $7.00 price objective on shares of Taysha Gene Therapies in a research note on Tuesday, August 13th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $6.38.

Taysha Gene Therapies Price Performance

Shares of Taysha Gene Therapies stock opened at $1.63 on Tuesday. The firm has a market capitalization of $334.06 million, a PE ratio of -8.15 and a beta of 0.44. The company has a current ratio of 5.22, a quick ratio of 5.22 and a debt-to-equity ratio of 0.35. Taysha Gene Therapies has a 12 month low of $1.19 and a 12 month high of $4.32. The business’s 50-day moving average price is $1.97 and its 200-day moving average price is $2.39.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $1.11 million for the quarter, compared to analysts’ expectations of $3.62 million. Taysha Gene Therapies had a negative net margin of 888.18% and a negative return on equity of 168.91%. During the same period last year, the business earned ($0.38) earnings per share. Sell-side analysts forecast that Taysha Gene Therapies will post -0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Taysha Gene Therapies

Hedge funds have recently made changes to their positions in the business. StemPoint Capital LP purchased a new position in Taysha Gene Therapies during the 1st quarter valued at $3,122,000. Avoro Capital Advisors LLC raised its stake in Taysha Gene Therapies by 328.2% in the first quarter. Avoro Capital Advisors LLC now owns 18,650,000 shares of the company’s stock worth $53,526,000 after buying an additional 14,294,445 shares in the last quarter. Artal Group S.A. raised its stake 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 worth $10,583,000 after buying an additional 24,444 shares in the last quarter. Quantum Private Wealth LLC lifted its holdings in Taysha Gene Therapies by 4.6% in the second quarter. Quantum Private Wealth LLC now owns 730,520 shares of the company’s stock worth $1,636,000 after buying an additional 32,000 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Taysha Gene Therapies during the 2nd quarter valued at approximately $1,018,000. 77.70% of the stock is owned by hedge funds and other institutional investors.

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.