Insider Buying: Taysha Gene Therapies, Inc. (NASDAQ:TSHA) Major Shareholder Buys 750,000 Shares of Stock

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) major shareholder Paul B. Manning acquired 750,000 shares of the company's 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 acquisition, the insider now directly owns 2,841,704 shares of the company's stock, valued at $7,814,686. This trade represents a 35.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Taysha Gene Therapies Price Performance

NASDAQ:TSHA traded down $0.04 during mid-day trading on Friday, hitting $2.84. 6,656,617 shares of the company's stock traded hands, compared to its average volume of 3,045,521. The company has a debt-to-equity ratio of 0.48, a quick ratio of 5.51 and a current ratio of 5.51. The company has a market cap of $609.64 million, a PE ratio of 4.51 and a beta of 0.90. The firm's 50 day simple moving average is $2.04 and its 200 day simple moving average is $1.92. Taysha Gene Therapies, Inc. has a 1 year low of $1.05 and a 1 year high of $4.32.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.08) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.08). Taysha Gene Therapies had a negative net margin of 229.67% and a negative return on equity of 106.36%. The business had revenue of $2.30 million during the quarter, compared to analysts' expectations of $1.48 million. During the same period last year, the company posted ($0.10) EPS. Sell-side analysts expect that Taysha Gene Therapies, Inc. will post -0.35 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Needham & Company LLC restated a "buy" rating and set a $8.00 target price (up from $6.00) on shares of Taysha Gene Therapies in a research report on Monday, June 2nd. JMP Securities increased their target price on shares of Taysha Gene Therapies from $5.00 to $6.00 and gave the company a "market outperform" rating in a report on Thursday, May 29th. Cantor Fitzgerald reiterated an "overweight" rating and set a $7.00 price target on shares of Taysha Gene Therapies in a research report on Monday, April 28th. Citigroup restated an "outperform" rating on shares of Taysha Gene Therapies in a report on Thursday, May 29th. Finally, Canaccord Genuity Group raised their price objective on Taysha Gene Therapies from $9.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $7.57.

Institutional Investors Weigh In On Taysha Gene Therapies

A number of large investors have recently bought and sold shares of the stock. Ground Swell Capital LLC purchased a new stake in shares of Taysha Gene Therapies in the fourth quarter valued at $25,000. Cibc World Markets Corp acquired a new position in Taysha Gene Therapies in the 4th quarter valued at about $28,000. E Fund Management Co. Ltd. purchased a new position in Taysha Gene Therapies in the 4th quarter valued at about $31,000. Hsbc Holdings PLC lifted its holdings in Taysha Gene Therapies by 65.6% in the 4th quarter. Hsbc Holdings PLC now owns 20,391 shares of the company's stock valued at $36,000 after purchasing an additional 8,076 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of Taysha Gene Therapies during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 77.70% of the company's stock.

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.