TScan Therapeutics (NASDAQ:TCRX) Trading Down 6% – Here’s Why

TScan Therapeutics, Inc. (NASDAQ:TCRX)’s share price dropped 6% during trading on Monday . The stock traded as low as $0.85 and last traded at $0.8651. 1,617,672 shares were traded during mid-day trading, an increase of 318% from the average session volume of 386,904 shares. The stock had previously closed at $0.92.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TCRX. Weiss Ratings restated a “sell (d-)” rating on shares of TScan Therapeutics in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of TScan Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of TScan Therapeutics in a report on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $6.00 price objective on shares of TScan Therapeutics in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.00.

TScan Therapeutics Trading Down 4.4%

The company has a market cap of $57.57 million, a price-to-earnings ratio of -0.92 and a beta of 1.03. The company’s fifty day moving average price is $1.07 and its two-hundred day moving average price is $1.06. The company has a quick ratio of 6.65, a current ratio of 6.65 and a debt-to-equity ratio of 0.34.

TScan Therapeutics (NASDAQ:TCRX) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.22) earnings per share for the quarter, meeting the consensus estimate of ($0.22). TScan Therapeutics had a negative net margin of 1,360.61% and a negative return on equity of 91.94%. The firm had revenue of $0.98 million during the quarter, compared to analysts’ expectations of $2.50 million. Research analysts expect that TScan Therapeutics, Inc. will post -1.11 earnings per share for the current year.

Hedge Funds Weigh In On TScan Therapeutics

Large investors have recently made changes to their positions in the company. Panagora Asset Management Inc. acquired a new stake in TScan Therapeutics in the fourth quarter worth about $25,000. HRT Financial LP bought a new stake in TScan Therapeutics during the 4th quarter worth about $26,000. Public Employees Retirement System of Ohio acquired a new position in TScan Therapeutics during the 1st quarter valued at about $28,000. Boothbay Fund Management LLC lifted its position in TScan Therapeutics by 50.0% during 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 period. Finally, Bank of America Corp DE boosted its stake in shares of TScan Therapeutics by 48.7% in the 1st quarter. Bank of America Corp DE now owns 57,529 shares of the company’s stock valued at $58,000 after purchasing an additional 18,829 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

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.