TCR2 Therapeutics (NASDAQ:TCRR) Stock Rating Lowered by Jefferies Financial Group

TCR2 Therapeutics (NASDAQ:TCRR – Get Rating) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, The Fly reports. They presently have a $3.00 price target on the stock, down from their previous price target of $18.00. Jefferies Financial Group’s target price would suggest a potential upside of 109.79% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. HC Wainwright downgraded shares of TCR2 Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday. Piper Sandler boosted their price target on shares of TCR2 Therapeutics from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, January 5th. EF Hutton Acquisition Co. I assumed coverage on shares of TCR2 Therapeutics in a report on Thursday, January 5th. They set a “hold” rating and a $2.00 price target on the stock. Finally, Truist Financial cut shares of TCR2 Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the stock from $8.00 to $3.00 in a report on Tuesday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.20.

TCR2 Therapeutics Price Performance

NASDAQ:TCRR opened at $1.43 on Thursday. The firm has a 50-day moving average of $1.30 and a 200-day moving average of $1.54. The company has a market cap of $55.28 million, a PE ratio of -0.46 and a beta of 1.90. TCR2 Therapeutics has a one year low of $0.82 and a one year high of $3.88.

Institutional Trading of TCR2 Therapeutics

A number of institutional investors have recently modified their holdings of TCRR. Private Advisor Group LLC lifted its stake in shares of TCR2 Therapeutics by 205.1% during the 1st quarter. Private Advisor Group LLC now owns 33,631 shares of the company’s stock valued at $93,000 after buying an additional 22,608 shares in the last quarter. BlackRock Inc. lifted its stake in shares of TCR2 Therapeutics by 5.5% during the 1st quarter. BlackRock Inc. now owns 2,532,916 shares of the company’s stock valued at $6,991,000 after buying an additional 131,171 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of TCR2 Therapeutics by 166.7% during the 1st quarter. Federated Hermes Inc. now owns 15,707 shares of the company’s stock valued at $43,000 after buying an additional 9,818 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of TCR2 Therapeutics by 622.1% during the 1st quarter. Prudential Financial Inc. now owns 288,095 shares of the company’s stock valued at $795,000 after buying an additional 248,200 shares in the last quarter. Finally, XTX Topco Ltd lifted its stake in shares of TCR2 Therapeutics by 137.3% during the 1st quarter. XTX Topco Ltd now owns 46,759 shares of the company’s stock valued at $129,000 after buying an additional 27,051 shares in the last quarter. 64.76% of the stock is currently owned by hedge funds and other institutional investors.

About TCR2 Therapeutics

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TCR2 Therapeutics, Inc is a clinical-stage cell therapy company, which engages in the development of biological drugs and engineering T-cells for cancer therapy. It is also involved in the research and collaboration with academic laboratories and industry partners in the field of T-cell immunology, cell therapy, gene editing, and process development.