Canaccord Genuity Group Forecasts Strong Price Appreciation for Taysha Gene Therapies (NASDAQ:TSHA) Stock

Taysha Gene Therapies (NASDAQ:TSHA) had its price target hoisted by investment analysts at Canaccord Genuity Group from $14.00 to $17.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 271.99% from the company’s current price.

Several other research firms have also recently weighed in on TSHA. Wall Street Zen upgraded Taysha Gene Therapies from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Chardan Capital reiterated a “buy” rating and issued a $12.00 price objective on shares of Taysha Gene Therapies in a report on Thursday, March 19th. Needham & Company LLC increased their price objective on Taysha Gene Therapies from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Wells Fargo & Company increased their price objective on Taysha Gene Therapies from $8.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Finally, Truist Financial upgraded Taysha Gene Therapies to a “strong-buy” rating in a report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $11.64.

Taysha Gene Therapies Trading Down 1.7%

Shares of TSHA stock opened at $4.57 on Monday. The stock has a market capitalization of $1.31 billion, a PE ratio of -13.44 and a beta of 1.10. Taysha Gene Therapies has a 1-year low of $1.05 and a 1-year high of $6.02. The business has a 50-day moving average of $4.53 and a 200 day moving average of $4.68. The company has a debt-to-equity ratio of 0.20, a current ratio of 12.23 and a quick ratio of 12.23.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its earnings results on Thursday, March 19th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.03. The company had revenue of $5.49 million for the quarter, compared to analysts’ expectations of $1.89 million. As a group, sell-side analysts anticipate that Taysha Gene Therapies will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 26,918 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $4.61, for a total value of $124,091.98. Following the completion of the sale, the insider owned 1,317,389 shares in the company, valued at approximately $6,073,163.29. This trade represents a 2.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sean P. Nolan sold 41,312 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $4.61, for a total value of $190,448.32. Following the completion of the sale, the chief executive officer owned 2,908,257 shares of the company’s stock, valued at approximately $13,407,064.77. This trade represents a 1.40% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 598,623 shares of company stock worth $2,822,188. 3.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its position in shares of Taysha Gene Therapies by 698.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 25,577 shares of the company’s stock worth $141,000 after acquiring an additional 22,373 shares in the last quarter. Seven Fleet Capital Management LP bought a new position in shares of Taysha Gene Therapies in the 4th quarter worth approximately $920,000. Invesco Ltd. raised its position in shares of Taysha Gene Therapies by 376.3% in the 4th quarter. Invesco Ltd. now owns 1,332,780 shares of the company’s stock worth $7,330,000 after acquiring an additional 1,052,987 shares in the last quarter. Oracle Investment Management Inc. bought a new position in shares of Taysha Gene Therapies in the 4th quarter worth approximately $1,458,000. Finally, Voloridge Investment Management LLC bought a new position in shares of Taysha Gene Therapies in the 4th quarter worth approximately $301,000. Institutional investors own 77.70% of the company’s stock.

About Taysha Gene Therapies

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.