BIT Capital GmbH Makes New Investment in Taysha Gene Therapies, Inc. (NASDAQ:TSHA)

Key Points

• BIT Capital GmbH acquired 117,062 shares of Taysha Gene Therapies, valued at approximately $163,000, representing a 0.06% ownership in the company.
• Taysha Gene Therapies reported a quarterly revenue of $2.30 million, surpassing analysts' expectations of $1.48 million, while EPS remained at ($0.08).
• Insider Paul B. Manning purchased 750,000 shares for a total of $2.06 million, increasing his ownership by 35.86%.

BIT Capital GmbH bought a new stake in shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 117,062 shares of the company's stock, valued at approximately $163,000. BIT Capital GmbH owned approximately 0.06% of Taysha Gene Therapies at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC bought a new position in Taysha Gene Therapies during the 4th quarter valued at about $104,000. Adage Capital Partners GP L.L.C. bought a new position in Taysha Gene Therapies during the 4th quarter valued at about $8,650,000. Hsbc Holdings PLC grew its stake in Taysha Gene Therapies by 65.6% in the 4th quarter. Hsbc Holdings PLC now owns 20,391 shares of the company's stock worth $36,000 after acquiring an additional 8,076 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Taysha Gene Therapies in the 4th quarter worth about $41,000. Finally, Vanguard Group Inc. grew its stake 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 worth $15,409,000 after acquiring an additional 641,305 shares in the last quarter. 77.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TSHA has been the topic of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and issued a $8.00 target price on shares of Taysha Gene Therapies in a research note on Tuesday, July 1st. Bank of America initiated coverage on shares of Taysha Gene Therapies in a research note on Friday, July 11th. They issued a "buy" rating and a $8.00 target price on the stock. 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 research report on Tuesday, June 3rd. 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 research report on Thursday, May 29th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $7.00 price target on shares of Taysha Gene Therapies in a research report on Monday, April 28th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Taysha Gene Therapies has a consensus rating of "Buy" and an average price target of $8.17.

Insider Activity

In related news, major shareholder Paul B. Manning bought 750,000 shares of the company's stock in a transaction dated Friday, May 30th. The shares were acquired at an average price of $2.75 per share, for a total transaction of $2,062,500.00. Following the completion of the transaction, the insider directly owned 2,841,704 shares in the company, valued at $7,814,686. This trade represents a 35.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.78% of the stock is currently owned by company insiders.

Taysha Gene Therapies Stock Performance

Shares of Taysha Gene Therapies stock traded up $0.04 during trading on Tuesday, hitting $2.75. 369,055 shares of the company's stock were exchanged, compared to its average volume of 2,876,105. The company has a debt-to-equity ratio of 0.77, a quick ratio of 5.35 and a current ratio of 5.35. The business has a 50-day simple moving average of $2.58 and a 200-day simple moving average of $2.04. Taysha Gene Therapies, Inc. has a 52-week low of $1.05 and a 52-week high of $3.31. The stock has a market capitalization of $589.24 million, a price-to-earnings ratio of -8.07 and a beta of 0.98.

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, meeting the consensus estimate of ($0.08). The company had revenue of $2.30 million for the quarter, compared to analyst estimates of $1.48 million. Taysha Gene Therapies had a negative net margin of 1,201.08% and a negative return on equity of 104.93%. During the same quarter last year, the business earned ($0.10) earnings per share. On average, research analysts forecast that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current year.

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.