JMP Securities Reaffirms “Market Outperform” Rating for Taysha Gene Therapies (NASDAQ:TSHA)

Taysha Gene Therapies (NASDAQ:TSHA)‘s stock had its “market outperform” rating reiterated by equities researchers at JMP Securities in a report released on Tuesday,Benzinga reports. They presently have a $5.00 price objective on the stock. JMP Securities’ price objective suggests a potential upside of 136.80% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Chardan Capital restated a “buy” rating and issued a $7.00 target price on shares of Taysha Gene Therapies in a research note on Tuesday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday. Canaccord Genuity Group dropped their price target on shares of Taysha Gene Therapies from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $6.00 target price on shares of Taysha Gene Therapies in a report on Tuesday. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $6.38.

Taysha Gene Therapies Stock Performance

TSHA traded up $0.48 during trading on Tuesday, reaching $2.11. 11,450,453 shares of the company’s stock were exchanged, compared to its average volume of 2,475,920. The company has a market capitalization of $432.74 million, a P/E ratio of -10.40 and a beta of 0.44. The company has a quick ratio of 5.22, a current ratio of 5.22 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $1.97 and a 200 day moving average price of $2.39. Taysha Gene Therapies has a fifty-two week low of $1.19 and a fifty-two week high of $4.32.

Taysha Gene Therapies (NASDAQ:TSHA) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. Taysha Gene Therapies had a negative net margin of 888.18% and a negative return on equity of 168.91%. The firm had revenue of $1.11 million during the quarter, compared to analyst estimates of $3.62 million. During the same quarter in the prior year, the business posted ($0.38) earnings per share. As a group, analysts predict that Taysha Gene Therapies will post -0.35 earnings per share for the current fiscal year.

Institutional Trading of Taysha Gene Therapies

A number of institutional investors have recently modified their holdings of TSHA. Bank of New York Mellon Corp bought a new stake in Taysha Gene Therapies in the 2nd quarter valued at approximately $1,018,000. SG Americas Securities LLC acquired a new position in Taysha Gene Therapies during the third quarter worth $129,000. Rhumbline Advisers acquired a new position in Taysha Gene Therapies during the second quarter worth $413,000. Scientech Research LLC bought a new position in Taysha Gene Therapies in the second quarter valued at $97,000. Finally, The Manufacturers Life Insurance Company lifted its position in Taysha Gene Therapies by 109.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 133,213 shares of the company’s stock worth $298,000 after buying an additional 69,487 shares in the last quarter. 77.70% of the stock is currently owned by institutional investors.

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.