TScan Therapeutics (NASDAQ:TCRX) Price Target Raised to $5.00

TScan Therapeutics (NASDAQ:TCRX) had its price target upped by stock analysts at Wedbush from $4.00 to $5.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective points to a potential upside of 362.96% from the stock’s previous close.

TCRX has been the subject of several other research reports. Morgan Stanley cut shares of 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 research report on Thursday, January 22nd. Finally, HC Wainwright lowered their price objective on TScan Therapeutics from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Four research 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. According to data from MarketBeat, TScan Therapeutics has a consensus rating of “Hold” and a consensus price target of $6.20.

TScan Therapeutics Stock Up 4.3%

TCRX opened at $1.08 on Thursday. TScan Therapeutics has a 52 week low of $0.88 and a 52 week high of $2.57. The business has a 50 day moving average price of $1.06 and a two-hundred day moving average price of $1.40. The company has a quick ratio of 6.44, a current ratio of 6.44 and a debt-to-equity ratio of 0.23. The company has a market cap of $61.29 million, a PE ratio of -0.96 and a beta of 1.03.

TScan Therapeutics (NASDAQ:TCRX) last released its earnings results on Wednesday, March 4th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. TScan Therapeutics had a negative return on equity of 73.33% and a negative net margin of 1,692.96%.The business had revenue of $2.57 million for the quarter. As a group, research analysts anticipate that TScan Therapeutics will post -1.12 EPS for the current year.

Insider Buying and Selling at TScan Therapeutics

In other news, major shareholder Lynx1 Capital Management Lp acquired 75,500 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was purchased at an average cost of $0.90 per share, with a total value of $67,950.00. Following the purchase, the insider directly owned 8,012,916 shares of the company’s stock, valued at approximately $7,211,624.40. This trade represents a 0.95% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders purchased 161,801 shares of company stock valued at $145,621. Corporate insiders own 4.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Catalyst Funds Management Pty Ltd purchased a new position in TScan Therapeutics during the 2nd quarter valued at about $26,000. Quadrature Capital Ltd acquired a new stake in shares of TScan Therapeutics in the second quarter valued at approximately $33,000. Boothbay Fund Management LLC increased its stake in shares of TScan Therapeutics by 50.0% during the 2nd quarter. Boothbay Fund Management LLC now owns 24,363 shares of the company’s stock worth $35,000 after purchasing an additional 8,121 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in shares of TScan Therapeutics during the 4th quarter worth approximately $25,000. Finally, HRT Financial LP purchased a new stake in TScan Therapeutics in the 4th quarter valued at approximately $26,000. 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.