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

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

Analysts Set New Price Targets

TCRX has been the topic of several recent research reports. Wedbush increased their price objective on shares of TScan Therapeutics from $4.00 to $5.00 and gave the stock an “outperform” rating in a research note on Thursday, March 5th. Weiss Ratings restated a “sell (d-)” rating on shares of TScan Therapeutics in a research report on Tuesday, April 21st. Finally, Wall Street Zen cut shares of TScan Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, TScan Therapeutics has an average rating of “Hold” and an average target price of $6.00.

TScan Therapeutics Stock Down 6.0%

The company has a fifty day simple moving average of $1.08 and a 200-day simple moving average of $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. The firm has a market cap of $56.53 million, a P/E ratio of -0.90 and a beta of 1.03.

TScan Therapeutics (NASDAQ:TCRX) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.22) EPS for the quarter, hitting analysts’ consensus estimates of ($0.22). TScan Therapeutics had a negative return on equity of 91.94% and a negative net margin of 1,360.61%.The business had revenue of $0.98 million during the quarter, compared to analysts’ expectations of $2.50 million. On average, equities analysts anticipate that TScan Therapeutics, Inc. will post -1.11 earnings per share for the current year.

Institutional Trading of TScan Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted 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 worth $235,000 after acquiring an additional 9,676 shares during the period. Militia Capital Partners LP bought a new stake in TScan Therapeutics during the 2nd quarter valued at approximately $137,000. Qube Research & Technologies Ltd bought a new stake in TScan Therapeutics during the 2nd quarter valued at approximately $99,000. Voleon Capital Management LP purchased a new position in TScan Therapeutics in the 3rd quarter worth approximately $87,000. Finally, Marshall Wace LLP purchased a new position in TScan Therapeutics in the 2nd quarter worth approximately $78,000. 82.83% of the stock is owned by hedge funds and other institutional investors.

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.