TScan Therapeutics (NASDAQ:TCRX) Trading Up 4.6% – Here’s What Happened

TScan Therapeutics, Inc. (NASDAQ:TCRX)’s share price was up 4.6% during mid-day trading on Wednesday . The stock traded as high as $1.08 and last traded at $1.02. Approximately 1,586,302 shares were traded during mid-day trading, an increase of 268% from the average daily volume of 431,430 shares. The stock had previously closed at $0.9753.

Wall Street Analyst Weigh In

TCRX has been the subject of several research analyst reports. HC Wainwright dropped their price objective on shares of TScan Therapeutics from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. BTIG Research cut shares of TScan Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 4th. Morgan Stanley cut shares of TScan Therapeutics from an “overweight” rating to an “equal weight” rating in a report on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of TScan Therapeutics in a report on Thursday, January 22nd. Finally, Needham & Company LLC lowered their price objective on shares of TScan Therapeutics from $9.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, TScan Therapeutics has a consensus rating of “Hold” and a consensus price target of $6.60.

TScan Therapeutics Stock Performance

The company’s fifty day simple moving average is $1.04 and its two-hundred day simple moving average is $1.45. The stock has a market cap of $57.89 million, a price-to-earnings ratio of -0.91 and a beta of 1.04. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.44 and a quick ratio of 6.44.

Insider Buying and Selling at TScan Therapeutics

In other TScan Therapeutics news, major shareholder Lynx1 Capital Management Lp bought 80,069 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were purchased at an average price of $0.90 per share, for a total transaction of $72,062.10. Following the purchase, the insider directly owned 7,937,416 shares of the company’s stock, valued at approximately $7,143,674.40. This represents a 1.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders purchased 161,801 shares of company stock valued at $145,621. 4.35% of the stock is owned by insiders.

Institutional Investors Weigh In On TScan Therapeutics

Several large investors have recently added to or reduced their stakes in TCRX. Panagora Asset Management Inc. bought a new stake in shares of TScan Therapeutics during the 4th quarter valued at about $25,000. HRT Financial LP bought a new position in shares of TScan Therapeutics during the fourth quarter valued at about $26,000. Catalyst Funds Management Pty Ltd purchased a new stake in shares of TScan Therapeutics in the 2nd quarter worth about $26,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of TScan Therapeutics in the 2nd quarter worth about $29,000. Finally, Quadrature Capital Ltd bought a new stake in TScan Therapeutics in the second quarter worth $33,000. Hedge funds and other institutional investors 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.