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

TScan Therapeutics (NASDAQ:TCRX)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a research report issued to clients and investors on Tuesday,RTT News reports. They currently have a $7.00 target price on the stock, down from their previous target price of $10.00. Wedbush’s target price points to a potential upside of 110.21% from the company’s current price.

A number of other brokerages have also weighed in on TCRX. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of TScan Therapeutics in a research note on Tuesday, November 12th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of TScan Therapeutics in a research note on Friday, November 15th.

TScan Therapeutics Stock Performance

Shares of NASDAQ TCRX traded down $1.31 during midday trading on Tuesday, hitting $3.33. 1,945,832 shares of the company’s stock were exchanged, compared to its average volume of 251,683. TScan Therapeutics has a twelve month low of $3.20 and a twelve month high of $9.69. The firm has a market cap of $177.73 million, a P/E ratio of -3.14 and a beta of 0.79. The stock’s 50 day moving average price is $4.99 and its 200-day moving average price is $5.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.56 and a quick ratio of 9.56.

TScan Therapeutics (NASDAQ:TCRX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.03. The company had revenue of $1.05 million during the quarter, compared to analysts’ expectations of $2.86 million. TScan Therapeutics had a negative return on equity of 58.72% and a negative net margin of 1,188.88%. Equities research analysts anticipate that TScan Therapeutics will post -1.12 EPS for the current year.

Insider Activity at TScan Therapeutics

In related news, Director Barbara Klencke bought 5,000 shares of TScan Therapeutics stock in a transaction dated Monday, September 23rd. The stock was acquired at an average cost of $5.29 per share, with a total value of $26,450.00. Following the completion of the acquisition, the director now directly owns 45,000 shares in the company, valued at approximately $238,050. This trade represents a 12.50 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.76% of the company’s stock.

Hedge Funds Weigh In On TScan Therapeutics

Institutional investors have recently bought and sold shares of the stock. Barclays PLC boosted its holdings in shares of TScan Therapeutics by 341.1% in the third quarter. Barclays PLC now owns 58,067 shares of the company’s stock worth $289,000 after buying an additional 44,903 shares during the period. Geode Capital Management LLC lifted its position in shares of TScan Therapeutics by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 973,466 shares of the company’s stock valued at $4,849,000 after acquiring an additional 72,967 shares in the last quarter. XTX Topco Ltd acquired a new position in TScan Therapeutics in the 3rd quarter worth approximately $112,000. Wellington Management Group LLP grew its position in TScan Therapeutics by 38.9% during the 3rd quarter. Wellington Management Group LLP now owns 126,345 shares of the company’s stock worth $629,000 after purchasing an additional 35,404 shares in the last quarter. Finally, State Street Corp grew its position in TScan Therapeutics by 24.4% during the 3rd quarter. State Street Corp now owns 756,499 shares of the company’s stock worth $3,767,000 after purchasing an additional 148,414 shares in the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

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.