TScan Therapeutics (NASDAQ:TCRX) Announces Quarterly Earnings Results

TScan Therapeutics (NASDAQ:TCRX) released its quarterly earnings results on Wednesday. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.09, FiscalAI reports. The firm had revenue of $2.57 million during the quarter. TScan Therapeutics had a negative return on equity of 73.33% and a negative net margin of 1,692.96%.

TScan Therapeutics Stock Up 2.9%

Shares of TScan Therapeutics stock traded up $0.03 on Wednesday, hitting $1.07. 154,475 shares of the company’s stock traded hands, compared to its average volume of 485,512. TScan Therapeutics has a 52-week low of $0.88 and a 52-week high of $2.57. The company has a quick ratio of 6.44, a current ratio of 6.44 and a debt-to-equity ratio of 0.23. The stock has a market cap of $60.44 million, a P/E ratio of -0.95 and a beta of 1.03. The firm’s 50-day moving average is $1.06 and its 200 day moving average is $1.40.

Insiders Place Their Bets

In related news, major shareholder Lynx1 Capital Management Lp bought 75,500 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were bought at an average cost of $0.90 per share, for a total transaction of $67,950.00. Following the completion of the purchase, the insider owned 8,012,916 shares of the company’s stock, valued at $7,211,624.40. This represents a 0.95% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired 161,801 shares of company stock valued at $145,621 over the last quarter. 4.35% of the stock is owned by company insiders.

Institutional Trading of TScan Therapeutics

A number of large investors have recently modified their holdings of TCRX. Boothbay Fund Management LLC lifted its position in TScan Therapeutics by 50.0% in the 2nd quarter. Boothbay Fund Management LLC now owns 24,363 shares of the company’s stock valued at $35,000 after purchasing an additional 8,121 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of TScan Therapeutics by 6.0% in the first quarter. Goldman Sachs Group Inc. now owns 170,349 shares of the company’s stock valued at $235,000 after purchasing an additional 9,676 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of TScan Therapeutics by 8.5% during the second quarter. JPMorgan Chase & Co. now owns 287,743 shares of the company’s stock valued at $417,000 after buying an additional 22,642 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in shares of TScan Therapeutics during the fourth quarter worth approximately $25,000. Finally, HRT Financial LP bought a new position in TScan Therapeutics in the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 82.83% of the company’s stock.

Analyst Ratings Changes

TCRX has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of TScan Therapeutics in a report on Thursday, January 22nd. Morgan Stanley cut shares of TScan Therapeutics from an “overweight” rating to an “equal weight” rating in a research report on Friday, November 14th. Needham & Company LLC reduced their price objective on TScan Therapeutics from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. HC Wainwright dropped their target price on TScan Therapeutics from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Finally, BTIG Research downgraded TScan Therapeutics from a “buy” rating to a “neutral” rating in a report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.60.

About TScan Therapeutics

TScan Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of T-cell receptor (TCR) therapies for the treatment of cancer. Leveraging its proprietary T-Scan platform, the company seeks to identify high-affinity TCRs that recognize intracellular tumor antigens presented on the surface of cancer cells. TScan’s approach aims to broaden the reach of immunotherapy beyond current targets by unlocking a wider array of cancer-associated proteins.

The company’s pipeline includes multiple preclinical and early-stage clinical programs in both hematologic malignancies and solid tumors.