Taysha Gene Therapies (NASDAQ:TSHA) Shares Gap Up After Insider Buying Activity

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report)'s stock price gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $2.78, but opened at $2.93. Taysha Gene Therapies shares last traded at $2.74, with a volume of 392,262 shares traded.

Specifically, major shareholder Paul B. Manning acquired 750,000 shares of the business's stock in a transaction on Friday, May 30th. The stock was bought at an average cost of $2.75 per share, for a total transaction of $2,062,500.00. Following the purchase, the insider now owns 2,841,704 shares in the company, valued at approximately $7,814,686. This represents a 35.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TSHA shares. Canaccord Genuity Group boosted 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. JMP Securities boosted 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. 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 report on Monday. Chardan Capital boosted their target price on Taysha Gene Therapies from $7.00 to $9.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, 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. Eight 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 price target of $7.57.

Taysha Gene Therapies Stock Up 3.2%

The stock has a market capitalization of $618.23 million, a price-to-earnings ratio of 4.57 and a beta of 0.90. The business has a fifty day moving average of $1.98 and a 200 day moving average of $1.92. 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 released its quarterly earnings data on Thursday, May 15th. The company reported ($0.08) EPS for the quarter, meeting analysts' consensus estimates of ($0.08). Taysha Gene Therapies had a negative return on equity of 106.36% and a negative net margin of 229.67%. The firm had revenue of $2.30 million for the quarter, compared to analysts' expectations of $1.48 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. As a group, equities analysts predict that Taysha Gene Therapies, Inc. will post -0.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TSHA. Granahan Investment Management LLC lifted its stake in Taysha Gene Therapies by 0.3% during the first quarter. Granahan Investment Management LLC now owns 1,640,793 shares of the company's stock worth $2,281,000 after purchasing an additional 4,412 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Taysha Gene Therapies by 65.6% in the fourth quarter. Hsbc Holdings PLC now owns 20,391 shares of the company's stock valued at $36,000 after buying an additional 8,076 shares during the last quarter. Virtus ETF Advisers LLC increased its holdings in Taysha Gene Therapies by 43.0% in the fourth quarter. Virtus ETF Advisers LLC now owns 31,597 shares of the company's stock valued at $55,000 after buying an additional 9,494 shares during the last quarter. Geode Capital Management LLC increased its holdings in Taysha Gene Therapies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 3,572,349 shares of the company's stock valued at $6,182,000 after buying an additional 9,591 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Taysha Gene Therapies by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 474,257 shares of the company's stock valued at $820,000 after buying an additional 11,390 shares during the last quarter. 77.70% of the stock is currently owned by institutional investors and hedge funds.

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.