Piper Sandler Cuts TCR2 Therapeutics (NASDAQ:TCRR) Price Target to $15.00

TCR2 Therapeutics (NASDAQ:TCRRGet Rating) had its target price cut by investment analysts at Piper Sandler from $23.00 to $15.00 in a report issued on Thursday, The Fly reports.

A number of other equities analysts have also weighed in on TCRR. The Goldman Sachs Group lowered TCR2 Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $28.00 to $5.00 in a research note on Wednesday, January 19th. Zacks Investment Research cut TCR2 Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, January 18th. Finally, HC Wainwright lowered their price objective on TCR2 Therapeutics from $25.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, January 13th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, TCR2 Therapeutics currently has an average rating of “Buy” and a consensus target price of $16.50.

Shares of NASDAQ TCRR traded up $0.23 during trading on Thursday, reaching $2.40. 17,707 shares of the company traded hands, compared to its average volume of 605,626. The firm’s fifty day simple moving average is $2.54 and its 200 day simple moving average is $3.89. The stock has a market cap of $92.51 million, a P/E ratio of -0.88 and a beta of 2.22. TCR2 Therapeutics has a 12-month low of $2.10 and a 12-month high of $20.26.

TCR2 Therapeutics (NASDAQ:TCRRGet Rating) last released its quarterly earnings data on Tuesday, March 22nd. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.01. As a group, equities analysts expect that TCR2 Therapeutics will post -2.95 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of TCRR. Moors & Cabot Inc. acquired a new position in shares of TCR2 Therapeutics during the 3rd quarter worth approximately $25,000. Macquarie Group Ltd. acquired a new position in shares of TCR2 Therapeutics during the 3rd quarter worth approximately $30,000. Newman Dignan & Sheerar Inc. acquired a new position in shares of TCR2 Therapeutics during the 1st quarter worth approximately $30,000. Private Advisor Group LLC acquired a new position in shares of TCR2 Therapeutics during the 4th quarter worth approximately $52,000. Finally, Guggenheim Capital LLC purchased a new stake in shares of TCR2 Therapeutics during the 4th quarter valued at approximately $53,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

About TCR2 Therapeutics (Get Rating)

TCR2 Therapeutics Inc, a clinical-stage immunotherapy company, focuses on developing novel T cell receptor (TCR) therapies for patients suffering from cancer. The company's lead product candidates include gavo-cel, a mono TCR Fusion Construct T cells (TRuC-T cells) targeting mesothelin positive solid tumors, which is in phase I/II clinical trial for the treatment of non-small cell lung cancer (NSCLC), ovarian cancer, malignant pleural/peritoneal mesothelioma, and cholangiocarcinoma.

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