Wells Fargo Remains Bullish on Taysha Gene Therapies (TSHA)

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) is one of the best strong buy penny stocks to buy now. In a report released on July 1, Yanan Zhu from Wells Fargo maintained a Buy rating on Taysha Gene Therapies, Inc. (NASDAQ:TSHA) with a price target of $7.50.

A laboratory technician preparing a gene therapy sample in a sterile environment.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) reported that it has $116.6 million in cash and cash equivalents as of March 31, with management continuing to expect the current cash resources to support capital requirements and planned operating expenses till Q4 2026.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) reported $15.6 million in research and development expenses for the three months ended March 31, down from $20.7 million for the three months ended March 31, 2024.

Management attributed the $5.1 million drop to “Good Manufacturing Practices batch activities with the intended commercial manufacturing process for TSHA-102 performed during the three months ended March 31, 2024.”

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) is a clinical-stage biotechnology company that develops and commercializes adeno-associated virus (AAV) based gene therapies to treat monogenic diseases of the central nervous system.

The company is also involved in the development of multiple gene therapy platforms, including AAV9 Discovery, Novel Capsid, and AAV Redosing.

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Disclosure: None. This article is originally published at Insider Monkey.