TScan Therapeutics (NASDAQ:TCRX) Downgraded to “Neutral” Rating by HC Wainwright

TScan Therapeutics (NASDAQ:TCRX) was downgraded by analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. They currently have a $1.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 155.43% from the company’s previous close.

TCRX has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TScan Therapeutics in a research note on Friday, July 17th. Benchmark restated a “buy” rating on shares of TScan Therapeutics in a report on Thursday, August 13th. Lifesci Capital lowered shares of TScan Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Wedbush cut shares of TScan Therapeutics from a “buy” rating to a “neutral” rating and set a $1.00 price target for the company. in a research report on Wednesday, September 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $6.00 price target on shares of TScan Therapeutics in a research note on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2.67.

TScan Therapeutics Stock Performance

Shares of TCRX stock opened at $0.39 on Tuesday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.31. TScan Therapeutics has a twelve month low of $0.35 and a twelve month high of $2.57. The company’s 50-day moving average price is $0.82 and its 200-day moving average price is $0.98. The stock has a market cap of $26.54 million, a price-to-earnings ratio of -0.43 and a beta of 1.07.

TScan Therapeutics (NASDAQ:TCRX) last posted its earnings results on Wednesday, August 12th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.02. The company had revenue of $1.05 million for the quarter, compared to analyst estimates of $1.88 million. TScan Therapeutics had a negative net margin of 1,655.35% and a negative return on equity of 108.72%. As a group, equities analysts predict that TScan Therapeutics will post -1.11 earnings per share for the current year.

Institutional Trading of TScan Therapeutics

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in TScan Therapeutics by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,317,916 shares of the company’s stock valued at $4,219,000 after purchasing an additional 168,540 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of TScan Therapeutics by 19.6% during the first quarter. Renaissance Technologies LLC now owns 1,364,783 shares of the company’s stock worth $1,378,000 after buying an additional 223,714 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of TScan Therapeutics during the second quarter worth approximately $975,000. GSA Capital Partners LLP purchased a new stake in shares of TScan Therapeutics during the second quarter worth approximately $537,000. Finally, Two Sigma Investments LP raised its holdings in TScan Therapeutics by 14.9% in the third quarter. Two Sigma Investments LP now owns 419,404 shares of the company’s stock valued at $763,000 after acquiring an additional 54,370 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

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.