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

Bank of America started coverage on shares of Taysha Gene Therapies (NASDAQ:TSHA - Free Report) in a research report released on Friday, Marketbeat reports. The firm issued a buy rating and a $8.00 price target on the stock.

A number of other equities analysts also recently issued reports on TSHA. JMP Securities lifted their price objective 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. Cantor Fitzgerald reiterated an "overweight" rating and set a $7.00 target price on shares of Taysha Gene Therapies in a research note on Monday, April 28th. Chardan Capital lifted their target price on Taysha Gene Therapies from $7.00 to $9.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Citigroup reiterated an "outperform" rating on shares of Taysha Gene Therapies in a research note on Thursday, May 29th. Finally, Canaccord Genuity Group lifted their target price on Taysha Gene Therapies from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Taysha Gene Therapies currently has an average rating of "Buy" and a consensus price target of $8.17.

Taysha Gene Therapies Trading Up 3.5%

Shares of NASDAQ:TSHA traded up $0.09 during mid-day trading on Friday, hitting $2.64. The company had a trading volume of 3,293,632 shares, compared to its average volume of 2,937,124. The firm has a fifty day moving average price of $2.54 and a 200 day moving average price of $1.94. The company has a market capitalization of $566.70 million, a PE ratio of -7.76 and a beta of 0.97. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.35 and a quick ratio of 5.35. Taysha Gene Therapies has a one year low of $1.05 and a one year high of $3.31.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.48 million. During the same quarter last year, the firm posted ($0.10) EPS. As a group, research analysts forecast that Taysha Gene Therapies will post -0.35 EPS for the current year.

Insider Transactions at Taysha Gene Therapies

In other news, major shareholder Paul B. Manning acquired 750,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were acquired at an average cost of $2.75 per share, for a total transaction of $2,062,500.00. Following the purchase, the insider owned 2,841,704 shares of the company's stock, valued at approximately $7,814,686. The trade was a 35.86% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.78% of the company's stock.

Institutional Investors Weigh In On Taysha Gene Therapies

Several hedge funds and other institutional investors have recently modified their holdings of TSHA. Ground Swell Capital LLC bought a new stake in shares of Taysha Gene Therapies during the fourth quarter valued at about $25,000. Cibc World Markets Corp bought a new stake in shares of Taysha Gene Therapies during the fourth quarter valued at about $28,000. Hsbc Holdings PLC increased its position in shares of Taysha Gene Therapies by 65.6% during the fourth quarter. Hsbc Holdings PLC now owns 20,391 shares of the company's stock valued at $36,000 after buying an additional 8,076 shares during the period. AXQ Capital LP bought a new stake in shares of Taysha Gene Therapies during the fourth quarter valued at about $39,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of Taysha Gene Therapies during the fourth quarter valued at about $40,000. 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.