TScan Therapeutics (NASDAQ:TCRX) Issues Earnings Results, Meets Expectations

TScan Therapeutics (NASDAQ:TCRX) announced its quarterly earnings results on Wednesday. The company reported ($0.22) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.22), FiscalAI reports. TScan Therapeutics had a negative net margin of 1,256.81% and a negative return on equity of 79.36%. The firm had revenue of $0.98 million for the quarter, compared to the consensus estimate of $2.50 million.

TScan Therapeutics Price Performance

TCRX traded up $0.01 during midday trading on Wednesday, hitting $1.22. 660,024 shares of the company traded hands, compared to its average volume of 733,763. The company has a current ratio of 8.41, a quick ratio of 8.41 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $69.13 million, a price-to-earnings ratio of -1.22 and a beta of 1.06. TScan Therapeutics has a 52-week low of $0.88 and a 52-week high of $2.57. The business has a 50 day simple moving average of $1.10 and a two-hundred day simple moving average of $1.17.

Hedge Funds Weigh In On TScan Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC lifted its holdings in TScan Therapeutics by 50.0% during the second 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 in the last quarter. Panagora Asset Management Inc. purchased a new position in TScan Therapeutics during the fourth quarter valued at $25,000. HRT Financial LP purchased a new position in TScan Therapeutics during the fourth quarter valued at $26,000. Voleon Capital Management LP purchased a new position in TScan Therapeutics during the third quarter valued at $87,000. Finally, Marshall Wace LLP purchased a new position in TScan Therapeutics during the second quarter valued at $78,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TCRX. Wedbush increased their price target on shares of TScan Therapeutics from $4.00 to $5.00 and gave the stock an “outperform” rating in a report on Thursday, March 5th. Wall Street Zen downgraded shares of TScan Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of TScan Therapeutics in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, TScan Therapeutics presently has an average rating of “Hold” and an average target price of $6.00.

TScan Therapeutics Company Profile

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.