Wedbush Reiterates Outperform Rating for TScan Therapeutics (NASDAQ:TCRX)

Wedbush restated their outperform rating on shares of TScan Therapeutics (NASDAQ:TCRX) in a report issued on Tuesday,RTT News reports. The firm currently has a $7.00 price target on the stock, down from their previous price target of $10.00.

Other research analysts have also issued research reports about the stock. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of TScan Therapeutics in a research note on Tuesday, November 12th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of TScan Therapeutics in a research note on Friday, November 15th.

TScan Therapeutics Price Performance

TScan Therapeutics stock opened at $3.02 on Tuesday. The company has a market capitalization of $161.18 million, a price-to-earnings ratio of -2.85 and a beta of 0.79. TScan Therapeutics has a 1 year low of $2.60 and a 1 year high of $9.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.56 and a current ratio of 9.56. The company’s 50 day simple moving average is $4.87 and its 200-day simple moving average is $5.91.

TScan Therapeutics (NASDAQ:TCRX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.03. TScan Therapeutics had a negative net margin of 1,188.88% and a negative return on equity of 58.72%. The business had revenue of $1.05 million during the quarter, compared to analysts’ expectations of $2.86 million. As a group, equities research analysts expect that TScan Therapeutics will post -1.12 earnings per share for the current year.

Insider Activity

In other TScan Therapeutics news, Director Barbara Klencke bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average price of $5.29 per share, with a total value of $26,450.00. Following the purchase, the director now owns 45,000 shares of the company’s stock, valued at $238,050. This trade represents a 12.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.76% of the company’s stock.

Institutional Trading of TScan Therapeutics

Hedge funds have recently bought and sold shares of the stock. Great Point Partners LLC acquired a new position in shares of TScan Therapeutics in the 2nd quarter valued at about $5,504,000. Checkpoint Capital L.P. acquired a new position in TScan Therapeutics during the third quarter worth $4,110,000. State Street Corp boosted its holdings in TScan Therapeutics by 24.4% in the third quarter. State Street Corp now owns 756,499 shares of the company’s stock valued at $3,767,000 after purchasing an additional 148,414 shares during the period. Bank of Montreal Can acquired a new stake in TScan Therapeutics in the second quarter valued at $749,000. Finally, Bank of New York Mellon Corp acquired a new position in TScan Therapeutics in the second quarter valued at $682,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

About TScan Therapeutics

TScan Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops T cell receptor-engineered T cell (TCR-T) therapies for the treatment of patients with cancer in the United States. The company's lead product candidates include TSC-100 and TSC-101 that is in Phase I clinical trial for the treatment of patients with hematologic malignancies to eliminate residual disease and prevent relapse after allogeneic hematopoietic cell transplantation.