Taysha Gene Therapies (NASDAQ:TSHA) Shares Gap Up on Insider Buying Activity

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $2.78, but opened at $2.93. Taysha Gene Therapies shares last traded at $2.74, with a volume of 392,262 shares trading hands.

Specifically, major shareholder Paul B. Manning acquired 750,000 shares of the stock in a transaction on Friday, May 30th. The stock was acquired at an average cost of $2.75 per share, for a total transaction of $2,062,500.00. Following the completion of the transaction, the insider now directly owns 2,841,704 shares in the company, valued at approximately $7,814,686. This trade represents a 35.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Analyst Ratings Changes

TSHA has been the subject of several research analyst reports. JMP Securities upped their price target on shares of Taysha Gene Therapies from $5.00 to $6.00 and gave the stock a “market outperform” rating in a report on Thursday, May 29th. Citigroup reiterated an “outperform” rating on shares of Taysha Gene Therapies in a report on Thursday, May 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 price target on shares of Taysha Gene Therapies in a report on Monday, April 28th. Chardan Capital upped their price target on shares of Taysha Gene Therapies from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Finally, Canaccord Genuity Group upped their price target on shares of Taysha Gene Therapies from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Taysha Gene Therapies presently has an average rating of “Buy” and an average target price of $7.57.

Taysha Gene Therapies Price Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.51 and a current ratio of 5.51. The stock has a market capitalization of $598.91 million, a PE ratio of 4.43 and a beta of 0.90. The business’s 50-day moving average price is $1.98 and its 200 day moving average price is $1.92.

Taysha Gene Therapies (NASDAQ:TSHA) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $2.30 million during the quarter, compared to the consensus estimate of $1.48 million. Taysha Gene Therapies had a negative net margin of 229.67% and a negative return on equity of 106.36%. During the same period in the previous year, the firm posted ($0.10) earnings per share. Research analysts forecast that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current year.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of institutional investors have recently bought and sold shares of TSHA. Quantum Private Wealth LLC raised its stake in Taysha Gene Therapies by 3.6% in the fourth quarter. Quantum Private Wealth LLC now owns 794,976 shares of the company’s stock worth $1,375,000 after buying an additional 27,360 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Taysha Gene Therapies by 33.1% during the fourth quarter. Bank of New York Mellon Corp now owns 450,261 shares of the company’s stock valued at $779,000 after purchasing an additional 111,989 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Taysha Gene Therapies by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 474,257 shares of the company’s stock valued at $820,000 after purchasing an additional 11,390 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Taysha Gene Therapies during the fourth quarter valued at approximately $31,000. Finally, Commonwealth Equity Services LLC increased its stake in shares of Taysha Gene Therapies by 110.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 59,069 shares of the company’s stock valued at $102,000 after purchasing an additional 31,000 shares in the last quarter. 77.70% of the stock is 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.