Bank of America Corp DE Has $7.50 Million Stake in Taysha Gene Therapies, Inc. $TSHA

Key Points

• Bank of America increased its Taysha Gene Therapies stake by 45.5% in the first quarter, owning 1.68 million shares worth approximately $7.5 million, or 0.58% of the company. Institutional investors and hedge funds collectively own 77.7% of TSHA.
• Taysha shares opened at $6.20, up 3.9%, with a market capitalization of about $2.02 billion. The company reported a quarterly loss of $0.13 per share, missing analyst expectations by $0.02.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $12.77, although one analyst and an independent rating service maintain sell ratings. An insider also sold 200,000 shares under a pre-arranged Rule 10b5-1 plan.

Bank of America Corp DE raised its stake in Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Free Report) by 45.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,677,046 shares of the company's stock after acquiring an additional 524,366 shares during the quarter. Bank of America Corp DE owned approximately 0.58% of Taysha Gene Therapies worth $7,496,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its position in Taysha Gene Therapies by 143.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,811 shares of the company's stock worth $43,000 after purchasing an additional 4,607 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Taysha Gene Therapies in the fourth quarter valued at approximately $59,000. Guggenheim Capital LLC acquired a new stake in Taysha Gene Therapies in the fourth quarter valued at approximately $61,000. R Squared Ltd bought a new stake in shares of Taysha Gene Therapies during the first quarter worth $50,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Taysha Gene Therapies during the first quarter worth $51,000. 77.70% of the stock is currently owned by institutional investors and hedge funds.

Taysha Gene Therapies Stock Up 3.9%

Shares of NASDAQ:TSHA opened at $6.20 on Wednesday. The firm has a market cap of $2.02 billion, a P/E ratio of -14.76 and a beta of 1.22. Taysha Gene Therapies, Inc. has a 12-month low of $2.71 and a 12-month high of $7.30. The business has a fifty day simple moving average of $6.18 and a 200 day simple moving average of $5.57. The company has a quick ratio of 17.76, a current ratio of 17.76 and a debt-to-equity ratio of 0.13.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.02). Analysts predict that Taysha Gene Therapies, Inc. will post -0.52 earnings per share for the current year.

Insider Activity at Taysha Gene Therapies

In related news, insider Sukumar Nagendran sold 200,000 shares of Taysha Gene Therapies stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $6.24, for a total value of $1,248,000.00. Following the transaction, the insider directly owned 936,410 shares of the company's stock, valued at $5,843,198.40. The trade was a 17.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TSHA has been the subject of a number of research reports. Bank of America increased their price target on Taysha Gene Therapies from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. BMO Capital Markets boosted their price objective on Taysha Gene Therapies from $10.00 to $14.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 23rd. Pivotal Research set a $14.00 target price on Taysha Gene Therapies in a report on Tuesday, June 23rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Taysha Gene Therapies in a research report on Wednesday, June 24th. Finally, Wall Street Zen downgraded Taysha Gene Therapies from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $12.77.

Taysha Gene Therapies Profile

Taysha Gene Therapies, Inc NASDAQ: TSHA is a clinical-stage biotechnology company focused on developing gene therapies for rare monogenic diseases of the central nervous system. Using a proprietary adeno-associated viral (AAV) vector platform, the company engineers novel capsids and regulatory elements to optimize delivery and expression of therapeutic genes. Its pipeline features lead programs such as TSHA-102 for GM2 gangliosidoses (Tay–Sachs and Sandhoff diseases), TSHA-101 for GM1 gangliosidosis and TSHA-103 for aromatic l-amino acid decarboxylase (AADC) deficiency, alongside earlier-stage candidates targeting other life-threatening pediatric CNS disorders.

Founded in 2019 and headquartered in Dallas, Texas, Taysha Gene Therapies completed its initial public offering in May 2021.

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