Tcr2 Therapeutics (NASDAQ:TCRR) Raised to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Tcr2 Therapeutics (NASDAQ:TCRR) from a hold rating to a buy rating in a research report report published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $20.00 price objective on the stock.

According to Zacks, “TCR2 Therapeutics Inc. is a clinical-stage immunotherapy company developing T cell therapies for patients suffering from cancer. Its product candidate includes TC-210, TC-220, TC-410, TC-110 and TC-310 which are in clinical stage. TCR2 Therapeutics Inc. is based in Cambridge, Massachusetts. “

TCRR has been the subject of a number of other research reports. Roth Capital assumed coverage on Tcr2 Therapeutics in a research note on Friday, May 31st. They issued a neutral rating and a $16.00 target price for the company. ValuEngine upgraded Tcr2 Therapeutics from a hold rating to a buy rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $26.50.

Shares of NASDAQ TCRR opened at $16.68 on Tuesday. The stock has a market capitalization of $399.75 million and a PE ratio of -0.17. The stock’s fifty day simple moving average is $17.05 and its two-hundred day simple moving average is $15.96. Tcr2 Therapeutics has a 12-month low of $10.04 and a 12-month high of $25.47.

Tcr2 Therapeutics (NASDAQ:TCRR) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.46) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.57) by $0.11. As a group, analysts forecast that Tcr2 Therapeutics will post -5.27 EPS for the current year.

In other Tcr2 Therapeutics news, major shareholder Morana Jovan-Embiricos sold 416,321 shares of Tcr2 Therapeutics stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $17.92, for a total transaction of $7,460,472.32. Company insiders own 39.07% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. MPM Asset Management LLC purchased a new position in shares of Tcr2 Therapeutics in the 1st quarter valued at about $70,607,000. EcoR1 Capital LLC purchased a new position in shares of Tcr2 Therapeutics in the 2nd quarter valued at about $231,000. Redmile Group LLC purchased a new position in shares of Tcr2 Therapeutics in the 1st quarter valued at about $28,686,000. Vanguard Group Inc. purchased a new position in shares of Tcr2 Therapeutics in the 2nd quarter valued at about $1,070,000. Finally, BlackRock Inc. purchased a new position in shares of Tcr2 Therapeutics in the 2nd quarter valued at about $1,511,000. Hedge funds and other institutional investors own 33.21% of the company’s stock.

About Tcr2 Therapeutics

TCR2 Therapeutics Inc, a clinical-stage immunotherapy company, develops novel T cell receptor therapies for patients suffering from cancer. Its product candidates in pipeline comprise TC-210 mono TCR Fusion Construct T cells (TRuC-T cells) targeting mesothelin positive solid tumors; TC-220 that targets MUC16 positive solid tumors; and TC-310 and TC-410 dual TRuC-T cell programs targeting CD19/22 and MSLN/MUC16, as well as TC-110 mono TRuC-T cells targeting CD19-positive B-Cell hematological malignancies.

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