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

TScan Therapeutics (NASDAQ:TCRX)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a research note issued on Wednesday,RTT News reports. They currently have a $7.00 price objective on the stock. Wedbush’s target price indicates a potential upside of 264.58% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC dropped their target price on shares of TScan Therapeutics from $11.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of TScan Therapeutics in a report on Wednesday, December 11th.

TScan Therapeutics Stock Performance

TCRX stock traded down $0.10 during mid-day trading on Wednesday, hitting $1.92. 309,208 shares of the company were exchanged, compared to its average volume of 309,741. TScan Therapeutics has a 1-year low of $1.82 and a 1-year high of $9.69. The company has a current ratio of 9.56, a quick ratio of 9.56 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $102.47 million, a PE ratio of -1.81 and a beta of 0.87. The business has a 50 day simple moving average of $2.47 and a 200-day simple moving average of $4.07.

TScan Therapeutics (NASDAQ:TCRX) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). TScan Therapeutics had a negative return on equity of 58.72% and a negative net margin of 1,188.88%. On average, equities analysts forecast that TScan Therapeutics will post -1.12 earnings per share for the current year.

Institutional Trading of TScan Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCRX. Brown Brothers Harriman & Co. lifted its holdings in shares of TScan Therapeutics by 88.2% in the third quarter. Brown Brothers Harriman & Co. now owns 143,051 shares of the company’s stock valued at $712,000 after purchasing an additional 67,027 shares in the last quarter. Great Point Partners LLC boosted its holdings in TScan Therapeutics by 8.0% during the 3rd quarter. Great Point Partners LLC now owns 1,016,375 shares of the company’s stock worth $5,062,000 after acquiring an additional 75,544 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of TScan Therapeutics by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 23,363 shares of the company’s stock worth $116,000 after acquiring an additional 13,164 shares in the last quarter. Checkpoint Capital L.P. purchased a new position in shares of TScan Therapeutics in the 3rd quarter worth approximately $4,110,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of TScan Therapeutics in the 3rd quarter worth approximately $515,000. 82.83% of the stock is owned by institutional investors.

TScan Therapeutics Company Profile

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.