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

Taysha Gene Therapies (NASDAQ:TSHA)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $10.00 price target on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 115.52% from the stock’s previous close.

Several other equities research analysts also recently issued reports on TSHA. Citizens Jmp set a $8.00 price objective on shares of Taysha Gene Therapies in a research note on Wednesday, November 5th. Citigroup reissued an “outperform” rating on shares of Taysha Gene Therapies in a report on Wednesday, November 5th. Wall Street Zen lowered Taysha Gene Therapies from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Wells Fargo & Company lifted their price target on shares of Taysha Gene Therapies from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $13.00 price target on shares of Taysha Gene Therapies in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.91.

Taysha Gene Therapies Trading Up 2.4%

Shares of NASDAQ:TSHA opened at $4.64 on Tuesday. Taysha Gene Therapies has a 52-week low of $1.05 and a 52-week high of $6.02. The company has a debt-to-equity ratio of 0.23, a quick ratio of 10.48 and a current ratio of 10.48. The company has a market cap of $1.27 billion, a P/E ratio of -14.06 and a beta of 1.02. The stock’s 50-day moving average is $4.85 and its 200-day moving average is $4.42.

Insider Transactions at Taysha Gene Therapies

In other news, insider Sukumar Nagendran sold 200,000 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $4.71, for a total transaction of $942,000.00. Following the sale, the insider directly owned 1,006,439 shares of the company’s stock, valued at $4,740,327.69. This represents a 16.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kamran Alam sold 78,968 shares of the business’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $4.75, for a total transaction of $375,098.00. Following the completion of the transaction, the chief financial officer owned 1,467,635 shares of the company’s stock, valued at $6,971,266.25. This trade represents a 5.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 598,623 shares of company stock worth $2,822,188. Corporate insiders own 3.78% of the company’s stock.

Hedge Funds Weigh In On Taysha Gene Therapies

Several large investors have recently made changes to their positions in TSHA. Caitong International Asset Management Co. Ltd increased its position in Taysha Gene Therapies by 143.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,811 shares of the company’s stock worth $43,000 after purchasing an additional 4,607 shares during the period. ST Germain D J Co. Inc. grew its position in shares of Taysha Gene Therapies by 81.8% during the 3rd quarter. ST Germain D J Co. Inc. now owns 9,633 shares of the company’s stock worth $32,000 after buying an additional 4,333 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Taysha Gene Therapies during the fourth quarter worth approximately $59,000. Guggenheim Capital LLC acquired a new position in Taysha Gene Therapies in the fourth quarter valued at approximately $61,000. Finally, Panagora Asset Management Inc. bought a new position in Taysha Gene Therapies in the fourth quarter valued at approximately $64,000. Institutional investors and hedge funds own 77.70% of the company’s stock.

Taysha Gene Therapies Company Profile

Taysha Gene Therapies, Inc (NASDAQ: TSHA) is a clinical-stage biotechnology company focused on developing gene therapies for rare monogenic diseases of the central nervous system. Using a proprietary adeno-associated viral (AAV) vector platform, the company engineers novel capsids and regulatory elements to optimize delivery and expression of therapeutic genes. Its pipeline features lead programs such as TSHA-102 for GM2 gangliosidoses (Tay–Sachs and Sandhoff diseases), TSHA-101 for GM1 gangliosidosis and TSHA-103 for aromatic l-amino acid decarboxylase (AADC) deficiency, alongside earlier-stage candidates targeting other life-threatening pediatric CNS disorders.

Founded in 2019 and headquartered in Dallas, Texas, Taysha Gene Therapies completed its initial public offering in May 2021.