TScan Therapeutics (NASDAQ:TCRX) Announces Quarterly Earnings Results

TScan Therapeutics (NASDAQ:TCRX) announced its quarterly earnings results on Wednesday. The company reported ($0.22) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.22), FiscalAI reports. TScan Therapeutics had a negative net margin of 1,360.61% and a negative return on equity of 84.02%. The firm had revenue of $0.98 million for the quarter, compared to the consensus estimate of $2.50 million.

TScan Therapeutics Stock Performance

Shares of NASDAQ TCRX traded up $0.07 during trading on Friday, hitting $1.28. The company had a trading volume of 194,250 shares, compared to its average volume of 731,988. The stock has a 50 day simple moving average of $1.11 and a 200 day simple moving average of $1.15. The firm has a market capitalization of $72.55 million, a P/E ratio of -1.31 and a beta of 1.06. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.41 and a current ratio of 8.41. TScan Therapeutics has a 12 month low of $0.88 and a 12 month high of $2.57.

Hedge Funds Weigh In On TScan Therapeutics

A number of hedge funds have recently modified their holdings of TCRX. Boothbay Fund Management LLC raised its position in shares of TScan Therapeutics by 50.0% during the 2nd quarter. Boothbay Fund Management LLC now owns 24,363 shares of the company’s stock valued at $35,000 after purchasing an additional 8,121 shares during the period. Panagora Asset Management Inc. purchased a new position in shares of TScan Therapeutics in the fourth quarter valued at about $25,000. HRT Financial LP bought a new position in shares of TScan Therapeutics in the fourth quarter worth about $26,000. Voleon Capital Management LP purchased a new stake in shares of TScan Therapeutics during the third quarter worth about $87,000. Finally, Marshall Wace LLP bought a new stake in TScan Therapeutics during the 2nd quarter valued at approximately $78,000. 82.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TScan Therapeutics in a research report on Tuesday, April 21st. Wall Street Zen downgraded TScan Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Finally, Wedbush boosted their price target on TScan Therapeutics from $4.00 to $5.00 and gave the company an “outperform” rating in a research note on Thursday, March 5th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.00.

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.