Taysha Gene Therapies (NASDAQ:TSHA) Announces Earnings Results

Key Points

• Taysha Gene Therapies reported a quarterly loss of ($0.09) per share, missing analyst expectations of ($0.07) by ($0.02), despite generating revenue of $1.99 million.
• Major shareholder Paul B. Manning purchased 750,000 shares at an average price of $2.75, increasing his ownership by 35.86% to a total valued at $7.8 million.
• Analysts maintain a positive outlook for Taysha Gene Therapies, with seven analysts issuing a "buy" rating and a consensus target price of $8.17.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.02), Zacks reports. Taysha Gene Therapies had a negative return on equity of 78.44% and a negative net margin of 1,144.97%. The company had revenue of $1.99 million for the quarter, compared to analyst estimates of $1.61 million.

Taysha Gene Therapies Price Performance

Shares of NASDAQ TSHA remained flat at $2.94 during midday trading on Friday. The stock had a trading volume of 2,891,415 shares, compared to its average volume of 2,845,960. The company has a market cap of $631.10 million, a P/E ratio of -8.65 and a beta of 0.98. Taysha Gene Therapies has a fifty-two week low of $1.05 and a fifty-two week high of $3.31. The company has a quick ratio of 5.35, a current ratio of 12.48 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average of $2.60 and a two-hundred day moving average of $2.12.

Insider Buying and Selling at Taysha Gene Therapies

In other news, major shareholder Paul B. Manning acquired 750,000 shares of Taysha Gene Therapies stock in a transaction dated Friday, May 30th. The shares were acquired at an average cost of $2.75 per share, with a total value of $2,062,500.00. Following the purchase, the insider directly owned 2,841,704 shares of the company's stock, valued at approximately $7,814,686. This trade represents a 35.86% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings 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 buying an additional 10,742 shares during the period. E Fund Management Co. Ltd. purchased a new stake in shares of Taysha Gene Therapies during the 2nd quarter valued at about $31,000. Rafferty Asset Management LLC purchased a new stake in shares of Taysha Gene Therapies during the 2nd quarter valued at about $274,000. Octagon Capital Advisors LP raised its holdings in shares of Taysha Gene Therapies by 17.7% during the 2nd quarter. Octagon Capital Advisors LP now owns 12,592,500 shares of the company's stock valued at $29,089,000 after buying an additional 1,892,500 shares during the period. Finally, Militia Capital Partners LP purchased a new stake in shares of Taysha Gene Therapies during the 2nd quarter valued at about $154,000. 77.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wells Fargo & Company increased their price objective on Taysha Gene Therapies from $7.50 to $8.00 and gave the stock an "overweight" rating in a research report on Wednesday. Canaccord Genuity Group raised their price target on Taysha Gene Therapies from $9.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $7.00 price target on shares of Taysha Gene Therapies in a report on Monday, April 28th. Needham & Company LLC reissued a "buy" rating and issued a $8.00 price target on shares of Taysha Gene Therapies in a report on Tuesday, July 1st. Finally, Bank of America began coverage on Taysha Gene Therapies in a report on Friday, July 11th. They issued a "buy" rating and a $8.00 price target for the company. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $8.29.

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.