TScan Therapeutics (NASDAQ:TCRX) Releases Quarterly Earnings Results, Hits Expectations

TScan Therapeutics (NASDAQ:TCRX) released its quarterly earnings results on Wednesday. The company reported ($0.22) EPS for the quarter, hitting the consensus estimate of ($0.22), FiscalAI reports. TScan Therapeutics had a negative return on equity of 79.36% and a negative net margin of 1,256.81%.The business had revenue of $0.98 million during the quarter, compared to analysts’ expectations of $2.50 million.

TScan Therapeutics Price Performance

NASDAQ:TCRX traded up $0.02 during trading hours on Wednesday, hitting $1.23. The company’s stock had a trading volume of 672,956 shares, compared to its average volume of 734,306. The business’s 50-day moving average is $1.10 and its two-hundred day moving average is $1.17. The company has a market capitalization of $69.70 million, a PE ratio of -1.23 and a beta of 1.06. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.41 and a current ratio of 8.41. TScan Therapeutics has a 52-week low of $0.88 and a 52-week high of $2.57.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TCRX. Goldman Sachs Group Inc. increased its position 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 valued at $235,000 after buying an additional 9,676 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of TScan Therapeutics by 8.5% during the second quarter. JPMorgan Chase & Co. now owns 287,743 shares of the company’s stock valued at $417,000 after acquiring an additional 22,642 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of TScan Therapeutics during the second quarter valued at $78,000. Qube Research & Technologies Ltd acquired a new stake in shares of TScan Therapeutics during the second quarter valued at $99,000. Finally, Jane Street Group LLC acquired a new stake in TScan Therapeutics in the 2nd quarter worth about $309,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Wall Street Analyst Weigh In

TCRX has been the subject of several recent analyst reports. Wedbush raised their target price 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 note on Tuesday, April 21st. Finally, Wall Street Zen cut shares of TScan Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, TScan Therapeutics has a consensus rating of “Hold” and an average price target of $6.00.

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.