Taysha Gene Therapies Target of Unusually High Options Trading (NASDAQ:TSHA)

Key Points

• Taysha Gene Therapies experienced a significant spike in options trading with 1,583 call options purchased, a 358% increase above the average daily volume.
• Various analysts, including Bank of America and Robert W. Baird, have recently issued buy ratings on the stock, with new target prices ranging from $8.00 to $12.00.
• Insider trading activity was noted, including the sale of 200,000 shares by Sukumar Nagendran, representing a 16.58% decrease in their position.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA - Get Free Report) was the recipient of some unusual options trading on Thursday. Stock traders purchased 1,583 call options on the stock. This is an increase of approximately 358% compared to the typical daily volume of 346 call options.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Bank of America assumed coverage on Taysha Gene Therapies in a research report on Friday, July 11th. They issued a "buy" rating and a $8.00 target price on the stock. Chardan Capital lifted their price target on Taysha Gene Therapies from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Needham & Company LLC lifted their price target on Taysha Gene Therapies from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Thursday. Robert W. Baird lifted their price target on Taysha Gene Therapies from $7.00 to $12.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Wells Fargo & Company upped their target price on Taysha Gene Therapies from $7.50 to $8.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $9.00.

Insider Activity

In other Taysha Gene Therapies news, insider Sukumar Nagendran sold 200,000 shares of Taysha Gene Therapies stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $3.23, for a total value of $646,000.00. Following the sale, the insider owned 1,006,439 shares of the company's stock, valued at $3,250,797.97. This trade represents a 16.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.78% of the stock is owned by corporate insiders.

Institutional Trading of Taysha Gene Therapies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in Taysha Gene Therapies during the first quarter valued at approximately $760,000. BNP Paribas Financial Markets purchased a new stake in Taysha Gene Therapies during the fourth quarter valued at approximately $41,000. Millennium Management LLC purchased a new stake in Taysha Gene Therapies during the fourth quarter valued at approximately $262,000. Octagon Capital Advisors LP increased its holdings in Taysha Gene Therapies by 2.4% during the first quarter. Octagon Capital Advisors LP now owns 10,700,000 shares of the company's stock valued at $14,873,000 after buying an additional 250,000 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in Taysha Gene Therapies during the fourth quarter valued at approximately $40,000. 77.70% of the stock is owned by hedge funds and other institutional investors.

Taysha Gene Therapies Price Performance

NASDAQ:TSHA traded up $1.60 during trading hours on Thursday, hitting $4.78. The stock had a trading volume of 112,102,527 shares, compared to its average volume of 3,662,563. The company has a 50 day simple moving average of $2.94 and a two-hundred day simple moving average of $2.43. The company has a debt-to-equity ratio of 0.17, a current ratio of 12.48 and a quick ratio of 12.48. Taysha Gene Therapies has a one year low of $1.05 and a one year high of $4.89. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -14.04 and a beta of 0.99.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). Taysha Gene Therapies had a negative return on equity of 78.44% and a negative net margin of 1,144.97%.The business had revenue of $1.99 million during the quarter, compared to the consensus estimate of $1.61 million. Research analysts forecast that Taysha Gene Therapies will post -0.35 earnings per share for the current fiscal year.

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.

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