Paul B. Manning Acquires 750,000 Shares of Taysha Gene Therapies, Inc. (NASDAQ:TSHA) Stock

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) major shareholder Paul B. Manning purchased 750,000 shares of the business's stock in a transaction dated Friday, May 30th. The shares were acquired at an average price of $2.75 per share, with a total value of $2,062,500.00. Following the completion of the acquisition, the insider now owns 2,841,704 shares of the company's stock, valued at approximately $7,814,686. The trade was a 35.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Taysha Gene Therapies Stock Up 3.2%

TSHA stock traded up $0.09 during trading hours on Thursday, reaching $2.88. 3,569,315 shares of the stock were exchanged, compared to its average volume of 3,018,861. The firm's 50-day moving average is $1.98 and its 200-day moving average is $1.92. Taysha Gene Therapies, Inc. has a 12 month low of $1.05 and a 12 month high of $4.32. The company has a market cap of $618.23 million, a price-to-earnings ratio of 4.57 and a beta of 0.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 5.51 and a quick ratio of 5.51.

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

Institutional Trading of Taysha Gene Therapies

Several hedge funds have recently added to or reduced their stakes in TSHA. Ground Swell Capital LLC bought a new position in shares of Taysha Gene Therapies in the 4th quarter valued at $25,000. Cibc World Markets Corp bought a new stake in shares of Taysha Gene Therapies during the 4th quarter valued at about $28,000. E Fund Management Co. Ltd. bought a new stake in shares of Taysha Gene Therapies during the 4th quarter valued at about $31,000. Hsbc Holdings PLC boosted its position in shares of Taysha Gene Therapies by 65.6% during 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 position in Taysha Gene Therapies during the 4th quarter worth approximately $39,000. 77.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.