TScan Therapeutics, Inc. (NASDAQ:TCRX) Short Interest Up 95.5% in July

TScan Therapeutics, Inc. (NASDAQ:TCRX) was the recipient of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 1,384,530 shares, an increase of 95.5% from the June 30th total of 708,200 shares. Approximately 2.3% of the company’s shares are sold short. Based on an average daily trading volume, of 1,160,818 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analyst Weigh In

Several brokerages have commented on TCRX. Wall Street Zen cut shares of TScan Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of TScan Therapeutics in a research report on Friday, July 17th. Wedbush reiterated an “outperform” rating and set a $5.00 price objective on shares of TScan Therapeutics in a research report on Tuesday, June 23rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $6.00 target price on shares of TScan Therapeutics in a research note on Tuesday, June 23rd. Three 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.00.

TScan Therapeutics Price Performance

NASDAQ TCRX opened at $0.76 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.65 and a quick ratio of 6.65. The firm has a market capitalization of $49.38 million, a price-to-earnings ratio of -0.79 and a beta of 1.04. The company has a 50 day simple moving average of $0.96 and a 200-day simple moving average of $1.04. TScan Therapeutics has a 52-week low of $0.73 and a 52-week high of $2.57.

TScan Therapeutics (NASDAQ:TCRX) last released 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). TScan Therapeutics had a negative net margin of 1,360.61% and a negative return on equity of 91.94%. The firm had revenue of $0.98 million for the quarter, compared to analyst estimates of $2.50 million. Equities research analysts predict that TScan Therapeutics will post -1.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TScan Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in TCRX. Goldman Sachs Group Inc. grew its position in TScan Therapeutics by 6.0% during 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. JPMorgan Chase & Co. grew its holdings in shares of TScan Therapeutics by 8.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 287,743 shares of the company’s stock worth $417,000 after purchasing an additional 22,642 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of TScan Therapeutics during the second quarter valued at approximately $78,000. Qube Research & Technologies Ltd acquired a new position in shares of TScan Therapeutics in the second quarter valued at $99,000. Finally, Jane Street Group LLC bought a new position in TScan Therapeutics in the second quarter worth $309,000. 82.83% of the stock is owned by institutional investors and hedge funds.

About TScan Therapeutics

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.