TScan Therapeutics (NASDAQ:TCRX) Stock Price Up 1% – Here’s What Happened

TScan Therapeutics, Inc. (NASDAQ:TCRX) shares shot up 1% during mid-day trading on Thursday. The stock traded as high as $0.3288 and last traded at $0.3175. Approximately 622,670 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 950,331 shares. The stock had previously closed at $0.3145.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wedbush lowered shares of TScan Therapeutics from a “buy” rating to a “neutral” rating and set a $1.00 target price on the stock. in a research report on Wednesday, September 2nd. Weiss Ratings downgraded shares of TScan Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 8th. Needham & Company LLC restated a “buy” rating and set a $6.00 target price on shares of TScan Therapeutics in a research report on Tuesday, June 23rd. Lifesci Capital lowered TScan Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. Finally, Benchmark reissued a “buy” rating on shares of TScan Therapeutics in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.67.

TScan Therapeutics Price Performance

The company’s 50 day simple moving average is $0.57 and its 200 day simple moving average is $0.88. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $21.72 million, a PE ratio of -0.35 and a beta of 1.15.

TScan Therapeutics (NASDAQ:TCRX) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. The company had revenue of $1.05 million for the quarter, compared to analyst estimates of $1.88 million. TScan Therapeutics had a negative return on equity of 108.72% and a negative net margin of 1,655.35%. On average, equities analysts anticipate that TScan Therapeutics, Inc. will post -0.79 earnings per share for the current year.

Institutional Trading of TScan Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in shares of TScan Therapeutics by 48.7% in the first quarter. Bank of America Corp DE now owns 57,529 shares of the company’s stock worth $58,000 after acquiring an additional 18,829 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in TScan Therapeutics in the second quarter valued at approximately $25,000. Public Employees Retirement System of Ohio acquired a new position in TScan Therapeutics during the first quarter worth approximately $28,000. Kestra Advisory Services LLC acquired a new position in TScan Therapeutics during the first quarter worth approximately $63,000. Finally, NewEdge Wealth LLC purchased a new position in TScan Therapeutics during the second quarter worth approximately $90,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

TScan Therapeutics Company Profile

TScan Therapeutics, Inc is a clinical-stage biotechnology company focused on developing T cell receptor (TCR) engineered T cell therapies for the treatment of cancer. The company’s approach is designed to equip a patient’s T cells with tumor-specific TCRs that can recognize cancer-related targets presented on the surface of tumor cells.

TScan’s research and development programs address both solid tumors and hematologic malignancies. Its platform is intended to identify and validate cancer targets and matching TCRs, which may support the development of multiple targeted cell therapies for patients whose tumors express particular antigens.