Needham & Company LLC Reiterates “Buy” Rating for TScan Therapeutics (NASDAQ:TCRX)

TScan Therapeutics (NASDAQ:TCRX)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $6.00 price objective on the stock.

A number of other equities analysts have also weighed in on TCRX. Wedbush increased their target price on shares of TScan Therapeutics from $4.00 to $5.00 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. Wall Street Zen cut shares of TScan Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TScan Therapeutics in a report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.00.

TScan Therapeutics Stock Down 6.0%

Shares of NASDAQ:TCRX opened at $0.87 on Tuesday. The business’s 50 day moving average is $1.08 and its 200 day moving average is $1.06. TScan Therapeutics has a 12-month low of $0.85 and a 12-month high of $2.57. The stock has a market cap of $56.53 million, a price-to-earnings ratio of -0.90 and a beta of 1.03. The company has a quick ratio of 6.65, a current ratio of 6.65 and a debt-to-equity ratio of 0.34.

TScan Therapeutics (NASDAQ:TCRX) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.22) earnings per share for the quarter, meeting the consensus estimate of ($0.22). The business had revenue of $0.98 million for the quarter, compared to analysts’ expectations of $2.50 million. TScan Therapeutics had a negative return on equity of 91.94% and a negative net margin of 1,360.61%. On average, sell-side analysts forecast that TScan Therapeutics will post -1.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TScan Therapeutics

Hedge funds have recently bought and sold shares of the stock. Panagora Asset Management Inc. bought a new position in shares of TScan Therapeutics in the 4th quarter worth $25,000. HRT Financial LP bought a new stake in shares of TScan Therapeutics during the 4th quarter worth $26,000. Public Employees Retirement System of Ohio bought a new stake in shares of TScan Therapeutics during the 1st quarter worth $28,000. Boothbay Fund Management LLC grew its position in TScan Therapeutics by 50.0% in the second quarter. Boothbay Fund Management LLC now owns 24,363 shares of the company’s stock worth $35,000 after acquiring an additional 8,121 shares in the last quarter. Finally, Bank of America Corp DE grew its position in TScan Therapeutics by 48.7% in the first quarter. Bank of America Corp DE now owns 57,529 shares of the company’s stock worth $58,000 after acquiring an additional 18,829 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

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.