Taysha Gene Therapies (NASDAQ:TSHA) Price Target Cut to $7.00 by Analysts at Piper Sandler

Taysha Gene Therapies (NASDAQ:TSHA) had its target price cut by Piper Sandler from $9.00 to $7.00 in a report published on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently commented on TSHA. JMP Securities reiterated a market outperform rating and set a $5.00 target price on shares of Taysha Gene Therapies in a research note on Thursday, June 20th. Cantor Fitzgerald reiterated an overweight rating and set a $7.00 target price on shares of Taysha Gene Therapies in a research note on Thursday, June 20th. BMO Capital Markets initiated coverage on Taysha Gene Therapies in a research note on Thursday, June 27th. They set an outperform rating and a $5.00 target price for the company. Canaccord Genuity Group reiterated a buy rating and set a $7.00 target price on shares of Taysha Gene Therapies in a research note on Thursday, March 21st. Finally, Needham & Company LLC restated a buy rating and issued a $7.00 price target on shares of Taysha Gene Therapies in a research note on Monday, June 17th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $6.60.

Taysha Gene Therapies Stock Up 0.9 %

NASDAQ:TSHA opened at $2.26 on Monday. The firm has a market capitalization of $422.66 million, a price-to-earnings ratio of -4.61 and a beta of 0.50. Taysha Gene Therapies has a twelve month low of $0.61 and a twelve month high of $4.32. The stock’s 50 day moving average price is $2.97 and its two-hundred day moving average price is $2.43. The company has a quick ratio of 3.38, a current ratio of 3.38 and a debt-to-equity ratio of 0.75.

Taysha Gene Therapies (NASDAQ:TSHA) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. Taysha Gene Therapies had a negative return on equity of 782.81% and a negative net margin of 833.60%. The firm had revenue of $3.41 million for the quarter, compared to analyst estimates of $3.70 million. During the same quarter in the previous year, the firm earned ($0.28) EPS. Equities research analysts expect that Taysha Gene Therapies will post -0.43 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Paul B. Manning bought 1,333,333 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was purchased at an average cost of $2.25 per share, for a total transaction of $2,999,999.25. Following the transaction, the insider now owns 1,333,333 shares in the company, valued at approximately $2,999,999.25. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of Taysha Gene Therapies

A number of institutional investors have recently modified their holdings of the stock. Avoro Capital Advisors LLC lifted its position in shares of Taysha Gene Therapies by 328.2% during the 1st quarter. Avoro Capital Advisors LLC now owns 18,650,000 shares of the company’s stock valued at $53,526,000 after acquiring an additional 14,294,445 shares during the period. RA Capital Management L.P. acquired a new position in shares of Taysha Gene Therapies during the 3rd quarter worth $58,373,000. RTW Investments LP acquired a new position in shares of Taysha Gene Therapies during the 3rd quarter worth $53,382,000. Vanguard Group Inc. raised its holdings in shares of Taysha Gene Therapies by 235.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,327,864 shares of the company’s stock worth $16,836,000 after buying an additional 3,738,616 shares in the last quarter. Finally, Artal Group S.A. raised its holdings in shares of Taysha Gene Therapies by 0.7% during the 1st 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. 77.70% of the stock is currently owned by 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.