Bank of America Begins Coverage on Taysha Gene Therapies (NASDAQ:TSHA)

Bank of America initiated coverage on shares of Taysha Gene Therapies (NASDAQ:TSHA - Free Report) in a report issued on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $8.00 price objective on the stock.

TSHA has been the topic of several other reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $7.00 target price on shares of Taysha Gene Therapies in a report on Monday, April 28th. Needham & Company LLC reissued a "buy" rating and issued a $8.00 target price on shares of Taysha Gene Therapies in a report on Tuesday, July 1st. Citigroup reissued an "outperform" rating on shares of Taysha Gene Therapies in a report on Thursday, May 29th. JMP Securities raised their target price on shares of Taysha Gene Therapies from $5.00 to $6.00 and gave the company a "market outperform" rating in a report on Thursday, May 29th. Finally, Chardan Capital raised their target price on shares of Taysha Gene Therapies from $7.00 to $9.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $8.17.

Taysha Gene Therapies Stock Performance

NASDAQ:TSHA remained flat at $2.64 during mid-day trading on Friday. 4,149,957 shares of the company were exchanged, compared to its average volume of 2,945,971. Taysha Gene Therapies has a 1-year low of $1.05 and a 1-year high of $3.31. The stock has a market capitalization of $566.70 million, a price-to-earnings ratio of -7.76 and a beta of 0.97. The business's 50 day moving average is $2.54 and its two-hundred day moving average is $1.95. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 0.77.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.08) EPS for the quarter, hitting analysts' consensus estimates of ($0.08). Taysha Gene Therapies had a negative net margin of 1,201.08% and a negative return on equity of 104.93%. The business had revenue of $2.30 million for the quarter, compared to analyst estimates of $1.48 million. During the same period last year, the firm earned ($0.10) earnings per share. As a group, equities research analysts forecast that Taysha Gene Therapies will post -0.35 EPS for the current year.

Insider Buying and Selling at Taysha Gene Therapies

In related news, major shareholder Paul B. Manning acquired 750,000 shares of the company's stock in a transaction dated Friday, May 30th. The stock was purchased at an average price of $2.75 per share, with a total value of $2,062,500.00. Following the completion of the purchase, the insider owned 2,841,704 shares in the company, valued at $7,814,686. This trade represents a 35.86% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.78% of the company's stock.

Hedge Funds Weigh In On Taysha Gene Therapies

A number of institutional investors have recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC grew its stake in shares of Taysha Gene Therapies by 7.2% during the 4th quarter. Avoro Capital Advisors LLC now owns 19,999,999 shares of the company's stock valued at $34,600,000 after acquiring an additional 1,349,999 shares during the period. Octagon Capital Advisors LP raised its holdings in Taysha Gene Therapies by 2.4% during the 1st quarter. Octagon Capital Advisors LP now owns 10,700,000 shares of the company's stock valued at $14,873,000 after buying an additional 250,000 shares during the period. Vanguard Group Inc. grew its position in Taysha Gene Therapies by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 8,906,764 shares of the company's stock valued at $15,409,000 after acquiring an additional 641,305 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Taysha Gene Therapies in the 4th quarter valued at $8,650,000. Finally, Geode Capital Management LLC grew its position in Taysha Gene Therapies by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 3,572,349 shares of the company's stock valued at $6,182,000 after acquiring an additional 9,591 shares during the last quarter. 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.