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

Needham & Company LLC reiterated their buy rating on shares of Taysha Gene Therapies (NASDAQ:TSHA) in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a $6.00 price objective on the stock.

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

Taysha Gene Therapies Stock Down 1.9 %

TSHA stock opened at $1.59 on Thursday. The firm’s fifty day simple moving average is $1.68 and its 200-day simple moving average is $1.98. The company has a market capitalization of $325.86 million, a P/E ratio of 2.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.51 and a quick ratio of 5.51. Taysha Gene Therapies has a 12 month low of $1.19 and a 12 month high of $4.32.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. 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 $2.02 million for the quarter, compared to the consensus estimate of $2.05 million. As a group, equities research analysts forecast that Taysha Gene Therapies will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Taysha Gene Therapies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Avoro Capital Advisors LLC increased its position in shares of Taysha Gene Therapies by 7.2% during the fourth quarter. Avoro Capital Advisors LLC now owns 19,999,999 shares of the company’s stock valued at $34,600,000 after acquiring an additional 1,349,999 shares during the last quarter. Octagon Capital Advisors LP increased its position in shares of Taysha Gene Therapies by 128.6% during the fourth quarter. Octagon Capital Advisors LP now owns 10,450,000 shares of the company’s stock valued at $18,078,000 after acquiring an additional 5,877,778 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Taysha Gene Therapies by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 8,906,764 shares of the company’s stock valued at $15,409,000 after acquiring an additional 641,305 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Taysha Gene Therapies during the fourth quarter valued at about $8,650,000. Finally, Geode Capital Management LLC increased its position in shares of Taysha Gene Therapies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 3,572,349 shares of the company’s stock valued at $6,182,000 after acquiring an additional 9,591 shares during the last quarter. 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.