Taysha Gene Therapies, Inc. $TSHA Shares Purchased by Octagon Capital Advisors LP

Key Points

• Octagon Capital Advisors LP increased its stake in Taysha Gene Therapies by 2.4%, acquiring an additional 250,000 shares, now holding around 10.7 million shares worth approximately $14.87 million.
• Several institutions have shown increased investments in Taysha, with notable increases from HSBC (65.6%) and Jane Street Group (57.6%) during the fourth quarter.
• Analysts have positive outlooks for Taysha Gene Therapies, with multiple firms raising their price targets, resulting in an average target price of $8.29 and an overall "Buy" rating from eight investment analysts.

Octagon Capital Advisors LP raised its stake in Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Free Report) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,700,000 shares of the company's stock after purchasing an additional 250,000 shares during the period. Taysha Gene Therapies accounts for approximately 1.6% of Octagon Capital Advisors LP's investment portfolio, making the stock its 12th largest holding. Octagon Capital Advisors LP owned about 5.22% of Taysha Gene Therapies worth $14,873,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TSHA. Hsbc Holdings PLC grew its position in Taysha Gene Therapies by 65.6% during the 4th quarter. Hsbc Holdings PLC now owns 20,391 shares of the company's stock worth $36,000 after purchasing an additional 8,076 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in Taysha Gene Therapies in the fourth quarter valued at approximately $40,000. BNP Paribas Financial Markets acquired a new stake in Taysha Gene Therapies during the fourth quarter valued at $41,000. First Manhattan CO. LLC. acquired a new stake in shares of Taysha Gene Therapies during the 4th quarter valued at about $49,000. Finally, ProShare Advisors LLC grew its holdings in Taysha Gene Therapies by 32.3% in the fourth quarter. ProShare Advisors LLC now owns 59,076 shares of the company's stock valued at $102,000 after purchasing an additional 14,418 shares during the period. Hedge funds and other institutional investors own 77.70% of the company's stock.

Insiders Place Their Bets

In related news, insider Sukumar Nagendran sold 200,000 shares of Taysha Gene Therapies stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $3.23, for a total value of $646,000.00. Following the transaction, the insider directly owned 1,006,439 shares in the company, valued at $3,250,797.97. This trade represents a 16.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.78% of the stock is currently owned by company insiders.

Taysha Gene Therapies Stock Performance

NASDAQ:TSHA traded down $0.17 during midday trading on Friday, reaching $3.07. The stock had a trading volume of 4,421,627 shares, compared to its average volume of 2,965,854. The firm has a fifty day simple moving average of $2.80 and a two-hundred day simple moving average of $2.30. Taysha Gene Therapies, Inc. has a 12-month low of $1.05 and a 12-month high of $3.40. The company has a quick ratio of 12.48, a current ratio of 12.48 and a debt-to-equity ratio of 0.17. The stock has a market cap of $837.50 million, a P/E ratio of -9.03 and a beta of 0.98.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.02). Taysha Gene Therapies had a negative net margin of 1,144.97% and a negative return on equity of 78.44%. The firm had revenue of $1.99 million during the quarter, compared to analysts' expectations of $1.61 million. On average, equities analysts expect that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on TSHA. Bank of America started coverage on shares of Taysha Gene Therapies in a research report on Friday, July 11th. They set a "buy" rating and a $8.00 price target for the company. Citigroup reaffirmed an "outperform" rating on shares of Taysha Gene Therapies in a research report on Thursday, May 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $8.00 target price on shares of Taysha Gene Therapies in a research note on Tuesday, July 1st. Chardan Capital lifted their price objective on Taysha Gene Therapies from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Finally, Canaccord Genuity Group raised their target price on Taysha Gene Therapies from $9.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. Eight analysts have rated the stock with a Buy rating, According to MarketBeat.com, Taysha Gene Therapies currently has a consensus rating of "Buy" and an average price target of $8.29.

Taysha Gene Therapies 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.