Wellington Management Group LLP Acquires 3,349,244 Shares of Taysha Gene Therapies, Inc. $TSHA

Key Points

• Wellington Management increased its Taysha Gene Therapies stake by 534.7% in the second quarter, acquiring 3.35 million additional shares and ending with 3.98 million shares valued at approximately $27.1 million.
• Institutional investors own 77.7% of Taysha, while insider Sukumar Nagendran sold 200,000 shares for $1.25 million under a pre-arranged Rule 10b5-1 plan.
• Analysts maintain a broadly positive outlook, with the stock carrying a consensus “Buy” rating and an average price target of $12.77 versus a recent price of $5.60; however, Taysha reported a quarterly EPS loss of $0.13, missing estimates.

Wellington Management Group LLP boosted its holdings in shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Free Report) by 534.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,975,605 shares of the company's stock after buying an additional 3,349,244 shares during the quarter. Wellington Management Group LLP owned approximately 1.22% of Taysha Gene Therapies worth $27,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Marex Group plc bought a new stake in Taysha Gene Therapies during the second quarter valued at about $29,000. E Fund Management Co. Ltd. purchased a new position in shares of Taysha Gene Therapies during the 2nd quarter valued at about $31,000. Tower Research Capital LLC TRC grew its stake in shares of Taysha Gene Therapies by 156.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company's stock valued at $41,000 after acquiring an additional 10,742 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of 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 valued at $43,000 after acquiring an additional 4,607 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Taysha Gene Therapies by 51.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 18,591 shares of the company's stock worth $43,000 after acquiring an additional 6,350 shares in the last quarter. 77.70% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Taysha Gene Therapies

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of Taysha Gene Therapies stock in a transaction on Friday, July 10th. The shares were sold at an average price of $6.24, for a total transaction of $1,248,000.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.48% of the stock is currently owned by corporate insiders.

Taysha Gene Therapies Stock Performance

NASDAQ TSHA opened at $5.60 on Friday. The stock has a market capitalization of $1.82 billion, a PE ratio of -13.33 and a beta of 1.19. The business has a 50 day simple moving average of $6.06 and a two-hundred day simple moving average of $5.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 17.76 and a quick ratio of 17.76. Taysha Gene Therapies, Inc. has a 1-year low of $2.71 and a 1-year high of $7.30.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TSHA shares. BMO Capital Markets raised their target price on shares of Taysha Gene Therapies from $10.00 to $14.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 23rd. Bank of America increased their price objective on shares of Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Needham & Company LLC restated a "buy" rating and set a $12.00 price objective on shares of Taysha Gene Therapies in a research report on Tuesday, June 30th. Citizens Jmp restated a "market outperform" rating and set a $11.00 target price on shares of Taysha Gene Therapies in a research note on Thursday, July 2nd. Finally, Citigroup reiterated an "outperform" rating on shares of Taysha Gene Therapies in a research note on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $12.77.

Taysha Gene Therapies Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.