TScan Therapeutics (NASDAQ:TCRX) Trading Up 4.6% – Here’s Why

TScan Therapeutics, Inc. (NASDAQ:TCRX) shares were up 4.6% during trading on Wednesday . The stock traded as high as $1.08 and last traded at $1.02. Approximately 1,586,302 shares traded hands during mid-day trading, an increase of 268% from the average daily volume of 431,430 shares. The stock had previously closed at $0.9753.

Analyst Ratings Changes

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

TScan Therapeutics Stock Performance

The stock’s fifty day simple moving average is $1.04 and its 200 day simple moving average is $1.45. The company has a current ratio of 6.44, a quick ratio of 6.44 and a debt-to-equity ratio of 0.23. The company has a market cap of $57.89 million, a price-to-earnings ratio of -0.91 and a beta of 1.04.

Insiders Place Their Bets

In other TScan Therapeutics news, major shareholder Lynx1 Capital Management Lp bought 80,069 shares of the business’s stock in a transaction on Friday, December 19th. The stock was bought at an average price of $0.90 per share, with a total value of $72,062.10. Following the completion of the purchase, the insider directly owned 7,937,416 shares in the company, valued at $7,143,674.40. The trade was a 1.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders purchased 161,801 shares of company stock valued at $145,621 in the last ninety days. Corporate insiders own 4.35% of the company’s stock.

Institutional Investors Weigh In On TScan Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Boothbay Fund Management LLC boosted 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 buying an additional 8,121 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of TScan Therapeutics by 6.0% during the first quarter. Goldman Sachs Group Inc. now owns 170,349 shares of the company’s stock worth $235,000 after acquiring an additional 9,676 shares during the period. Catalyst Funds Management Pty Ltd purchased a new stake in shares of TScan Therapeutics during the 2nd quarter worth $26,000. Letko Brosseau & Associates Inc. grew its holdings in TScan Therapeutics by 24.4% in the second quarter. Letko Brosseau & Associates Inc. now owns 95,875 shares of the company’s stock valued at $139,000 after purchasing an additional 18,775 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in TScan Therapeutics in the 2nd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

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.