TScan Therapeutics (NASDAQ:TCRX) Downgraded to Sell Rating by Wall Street Zen

TScan Therapeutics (NASDAQ:TCRX) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts also recently issued reports on TCRX. Morgan Stanley downgraded shares of TScan Therapeutics from an “overweight” rating to an “equal weight” rating in a report on Friday, November 14th. Wedbush boosted their target price on shares of TScan Therapeutics from $4.00 to $5.00 and gave the stock an “outperform” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TScan Therapeutics in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.00.

TScan Therapeutics Stock Down 7.1%

TScan Therapeutics stock opened at $1.05 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.41 and a quick ratio of 8.41. The stock has a market capitalization of $59.59 million, a PE ratio of -1.05 and a beta of 1.03. The business has a 50 day simple moving average of $1.08 and a 200-day simple moving average of $1.37. TScan Therapeutics has a 12 month low of $0.88 and a 12 month high of $2.57.

TScan Therapeutics (NASDAQ:TCRX) last announced its earnings results on Wednesday, March 4th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. The firm had revenue of $2.57 million for the quarter, compared to analyst estimates of $2.44 million. TScan Therapeutics had a negative return on equity of 79.36% and a negative net margin of 1,256.81%. On average, analysts anticipate that TScan Therapeutics will post -1.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other TScan Therapeutics news, major shareholder Lynx1 Capital Management Lp bought 80,069 shares of the stock in a transaction on Friday, December 19th. The shares were bought at an average price of $0.90 per share, with a total value of $72,062.10. Following the purchase, the insider directly owned 7,937,416 shares in the company, valued at $7,143,674.40. This trade represents a 1.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders acquired 161,801 shares of company stock valued at $145,621. Company insiders own 4.35% of the company’s stock.

Institutional Investors Weigh In On TScan Therapeutics

A number of hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in shares of TScan Therapeutics by 6.0% in the first quarter. Goldman Sachs Group Inc. now owns 170,349 shares of the company’s stock worth $235,000 after buying an additional 9,676 shares in the last quarter. Letko Brosseau & Associates Inc. grew its stake in TScan Therapeutics by 24.4% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 95,875 shares of the company’s stock valued at $139,000 after acquiring an additional 18,775 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in TScan Therapeutics in the 2nd quarter valued at about $26,000. JPMorgan Chase & Co. raised its holdings in TScan Therapeutics by 8.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 287,743 shares of the company’s stock valued at $417,000 after acquiring an additional 22,642 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in TScan Therapeutics in the 2nd quarter worth approximately $33,000. 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.