TScan Therapeutics (NASDAQ:TCRX) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

TScan Therapeutics (NASDAQ:TCRX) released its earnings results on Wednesday. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.06, FiscalAI reports. The firm had revenue of $1.05 million for the quarter, compared to the consensus estimate of $1.88 million. TScan Therapeutics had a negative return on equity of 91.94% and a negative net margin of 1,360.61%.

TScan Therapeutics Price Performance

TCRX traded down $0.00 during trading on Wednesday, hitting $0.77. The company’s stock had a trading volume of 336,359 shares, compared to its average volume of 704,891. The firm has a market capitalization of $50.44 million, a price-to-earnings ratio of -0.80 and a beta of 1.06. TScan Therapeutics has a twelve month low of $0.72 and a twelve month high of $2.57. The business’s fifty day simple moving average is $0.91 and its 200 day simple moving average is $1.02. The company has a current ratio of 6.65, a quick ratio of 6.65 and a debt-to-equity ratio of 0.34.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of TScan Therapeutics in a research note on Tuesday, June 23rd. HC Wainwright restated a “buy” rating on shares of TScan Therapeutics in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TScan Therapeutics in a report on Friday, July 17th. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 target price on shares of TScan Therapeutics in a research report on Tuesday, June 23rd. Finally, Wall Street Zen lowered TScan Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.00.

Institutional Investors Weigh In On TScan Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TCRX. Vanguard Group Inc. raised its position in TScan Therapeutics by 7.8% during the third quarter. Vanguard Group Inc. now owns 2,317,916 shares of the company’s stock worth $4,219,000 after acquiring an additional 168,540 shares during the period. Renaissance Technologies LLC raised its position in shares of TScan Therapeutics by 37.5% during the 4th quarter. Renaissance Technologies LLC now owns 1,141,069 shares of the company’s stock worth $1,141,000 after purchasing an additional 311,150 shares during the last quarter. Two Sigma Investments LP lifted its stake in TScan Therapeutics by 14.9% in the 3rd quarter. Two Sigma Investments LP now owns 419,404 shares of the company’s stock valued at $763,000 after buying an additional 54,370 shares in the last quarter. Citadel Advisors LLC lifted its stake in TScan Therapeutics by 78.4% in the 3rd quarter. Citadel Advisors LLC now owns 390,747 shares of the company’s stock valued at $711,000 after buying an additional 171,760 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in TScan Therapeutics by 377.5% in the 4th quarter. Jane Street Group LLC now owns 388,284 shares of the company’s stock worth $388,000 after buying an additional 306,968 shares during the last quarter. 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.