EcoR1 Capital LLC Decreases Holdings in TScan Therapeutics, Inc. $TCRX

Key Points

• EcoR1 Capital LLC reduced its holdings in TScan Therapeutics by 86.7%, selling 4,337,167 shares and now owns approximately 1.17% of the company.
• Despite this significant sell-off, TScan Therapeutics has a consensus rating of "Buy" from analysts, with an average price target of $7.80.
• TScan Therapeutics reported a quarter earnings of ($0.28) per share, meeting consensus estimates, and generated $3.08 million in revenue, surpassing expectations.

EcoR1 Capital LLC reduced its position in shares of TScan Therapeutics, Inc. (NASDAQ:TCRX - Free Report) by 86.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 662,833 shares of the company's stock after selling 4,337,167 shares during the period. EcoR1 Capital LLC owned 1.17% of TScan Therapeutics worth $915,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. BVF Inc. IL boosted its holdings in shares of TScan Therapeutics by 63.6% during the first quarter. BVF Inc. IL now owns 4,889,474 shares of the company's stock worth $6,747,000 after purchasing an additional 1,900,000 shares during the period. Checkpoint Capital L.P. raised its stake in TScan Therapeutics by 14.9% in the first quarter. Checkpoint Capital L.P. now owns 2,017,650 shares of the company's stock worth $2,784,000 after buying an additional 261,663 shares in the last quarter. Aberdeen Group plc raised its stake in TScan Therapeutics by 0.9% in the first quarter. Aberdeen Group plc now owns 891,448 shares of the company's stock worth $1,230,000 after buying an additional 7,744 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in TScan Therapeutics by 108.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 280,028 shares of the company's stock worth $851,000 after buying an additional 145,731 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in TScan Therapeutics by 54.4% in the fourth quarter. Bank of America Corp DE now owns 150,114 shares of the company's stock worth $456,000 after buying an additional 52,903 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wedbush reissued an "outperform" rating and issued a $7.00 price target on shares of TScan Therapeutics in a research note on Tuesday, August 12th. Wall Street Zen upgraded shares of TScan Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $7.80.

TScan Therapeutics Price Performance

Shares of TScan Therapeutics stock traded down $0.07 during trading hours on Tuesday, reaching $1.82. The company's stock had a trading volume of 86,575 shares, compared to its average volume of 444,808. TScan Therapeutics, Inc. has a one year low of $1.02 and a one year high of $6.23. The company has a debt-to-equity ratio of 0.18, a current ratio of 7.06 and a quick ratio of 7.06. The firm has a 50 day moving average price of $1.77 and a 200-day moving average price of $1.61. The stock has a market cap of $103.00 million, a P/E ratio of -1.67 and a beta of 1.00.

TScan Therapeutics (NASDAQ:TCRX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.28) earnings per share for the quarter, hitting the consensus estimate of ($0.28). TScan Therapeutics had a negative net margin of 1,964.88% and a negative return on equity of 63.33%. The firm had revenue of $3.08 million during the quarter, compared to analysts' expectations of $1.31 million. On average, analysts predict that TScan Therapeutics, Inc. will post -1.12 EPS for the current year.

TScan Therapeutics 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.