Taysha Gene Therapies (NASDAQ:TSHA) Trading 6.3% Higher – Should You Buy?

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) traded up 6.3% on Friday . The stock traded as high as $2.54 and last traded at $2.53. 427,059 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 2,827,586 shares. The stock had previously closed at $2.38.

Analyst Upgrades and Downgrades

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

Taysha Gene Therapies Stock Up 4.6 %

The firm has a 50-day simple moving average of $2.10 and a 200 day simple moving average of $2.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.51 and a quick ratio of 5.51. The company has a market capitalization of $510.30 million, a PE ratio of 4.02 and a beta of 0.79.

Institutional Trading of Taysha Gene Therapies

A number of hedge funds and other institutional investors have recently modified their holdings of TSHA. Quantum Private Wealth LLC increased its position in shares of Taysha Gene Therapies by 4.6% during the second quarter. Quantum Private Wealth LLC now owns 730,520 shares of the company’s stock worth $1,636,000 after acquiring an additional 32,000 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Taysha Gene Therapies during the second quarter worth about $1,018,000. Principal Financial Group Inc. purchased a new stake in shares of Taysha Gene Therapies during the second quarter worth about $48,000. Privium Fund Management B.V. bought a new stake in Taysha Gene Therapies in the second quarter valued at about $213,000. Finally, Rhumbline Advisers bought a new stake in Taysha Gene Therapies in the second quarter valued at about $413,000. 77.70% of the stock is owned by hedge funds and other 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.