Taysha Gene Therapies (NASDAQ:TSHA) Price Target Lowered to $6.00 at Canaccord Genuity Group

Taysha Gene Therapies (NASDAQ:TSHA) had its price objective decreased by Canaccord Genuity Group from $7.00 to $6.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 163.16% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Chardan Capital reiterated a “buy” rating and set a $7.00 target price on shares of Taysha Gene Therapies in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price objective on shares of Taysha Gene Therapies in a report on Thursday, June 20th. JMP Securities reiterated a “market outperform” rating and issued a $5.00 target price on shares of Taysha Gene Therapies in a research note on Thursday, June 20th. Needham & Company LLC decreased their price target on Taysha Gene Therapies from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Piper Sandler dropped their price target on Taysha Gene Therapies from $9.00 to $7.00 and set an “overweight” rating for the company in a report on Monday, July 1st. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $6.40.

Taysha Gene Therapies Price Performance

Shares of Taysha Gene Therapies stock opened at $2.28 on Wednesday. The firm has a market cap of $426.41 million, a P/E ratio of -4.65 and a beta of 0.41. The firm’s 50-day simple moving average is $2.59 and its 200-day simple moving average is $2.56. Taysha Gene Therapies has a twelve month low of $1.27 and a twelve month high of $4.32. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.38 and a current ratio of 3.38.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Taysha Gene Therapies had a negative net margin of 833.60% and a negative return on equity of 782.81%. The firm had revenue of $1.11 million during the quarter, compared to analysts’ expectations of $3.62 million. During the same quarter last year, the company earned ($0.38) earnings per share. As a group, research analysts expect that Taysha Gene Therapies will post -0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Paul B. Manning bought 1,333,333 shares of the stock in a transaction dated Thursday, June 27th. The stock was bought at an average cost of $2.25 per share, with a total value of $2,999,999.25. Following the purchase, the insider now owns 1,333,333 shares of the company’s stock, valued at $2,999,999.25. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Taysha Gene Therapies

Several hedge funds have recently added to or reduced their stakes in TSHA. Avoro Capital Advisors LLC raised its holdings in 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 worth $53,526,000 after purchasing an additional 14,294,445 shares during the last quarter. StemPoint Capital LP acquired a new stake in shares of Taysha Gene Therapies during the 1st quarter worth approximately $3,122,000. Bank of New York Mellon Corp bought a new stake in shares of Taysha Gene Therapies during the second quarter worth approximately $1,018,000. Monaco Asset Management SAM acquired a new position in Taysha Gene Therapies in the fourth quarter valued at approximately $522,000. Finally, Kovitz Investment Group Partners LLC boosted its stake in Taysha Gene Therapies by 1,011.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 277,778 shares of the company’s stock valued at $492,000 after acquiring an additional 252,778 shares during the last quarter. Institutional investors own 77.70% of the company’s stock.

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.