Taysha Gene Therapies (NASDAQ:TSHA) Trading Up 6.3% – Here’s What Happened

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) shot up 6.3% during mid-day trading on Friday . The stock traded as high as $3.21 and last traded at $3.19. 1,267,020 shares traded hands during trading, a decline of 54% from the average session volume of 2,772,484 shares. The stock had previously closed at $3.00.

Wall Street Analysts Forecast Growth

TSHA has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $6.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday, November 12th. Chardan Capital reissued a “buy” rating and issued a $7.00 price target on shares of Taysha Gene Therapies in a report on Thursday, November 14th. JMP Securities reiterated a “market outperform” rating and issued a $5.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday, November 12th. Canaccord Genuity Group raised their target price on Taysha Gene Therapies from $6.00 to $8.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price target on shares of Taysha Gene Therapies in a research note on Tuesday, November 12th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $6.63.

Taysha Gene Therapies Stock Up 8.0 %

The firm has a market capitalization of $664.01 million, a PE ratio of 5.14 and a beta of 0.44. The firm’s 50-day moving average is $2.06 and its 200 day moving average is $2.39. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.51 and a current ratio of 5.51.

Institutional Trading of Taysha Gene Therapies

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in shares of Taysha Gene Therapies by 23.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,562,758 shares of the company’s stock worth $7,163,000 after purchasing an additional 682,273 shares in the last quarter. Wellington Management Group LLP purchased a new position in Taysha Gene Therapies during the third quarter worth $931,000. Bank of New York Mellon Corp purchased a new position in Taysha Gene Therapies during the second quarter worth $1,018,000. Los Angeles Capital Management LLC acquired a new position in shares of Taysha Gene Therapies in the third quarter worth $416,000. Finally, Barclays PLC lifted its position in shares of Taysha Gene Therapies by 356.0% in the third quarter. Barclays PLC now owns 247,280 shares of the company’s stock valued at $513,000 after acquiring an additional 193,046 shares in the last quarter. Hedge funds and other institutional investors own 77.70% of the company’s stock.

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.