TScan Therapeutics, Inc. (NASDAQ:TCRX) Sees Significant Growth in Short Interest

TScan Therapeutics, Inc. (NASDAQ:TCRX - Get Free Report) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 2,300,000 shares, a growth of 28.5% from the April 30th total of 1,790,000 shares. Based on an average daily volume of 557,200 shares, the short-interest ratio is currently 4.1 days. Approximately 5.3% of the shares of the company are short sold.

TScan Therapeutics Price Performance

NASDAQ:TCRX traded up $0.03 during mid-day trading on Wednesday, reaching $1.78. 410,817 shares of the company were exchanged, compared to its average volume of 411,518. The company has a quick ratio of 9.56, a current ratio of 9.56 and a debt-to-equity ratio of 0.13. The stock has a market cap of $100.73 million, a PE ratio of -1.68 and a beta of 1.06. TScan Therapeutics has a 12 month low of $1.02 and a 12 month high of $9.29. The company has a fifty day moving average of $1.39 and a 200 day moving average of $2.26.

TScan Therapeutics (NASDAQ:TCRX - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.02. The business had revenue of $2.17 million for the quarter, compared to analysts' expectations of $1.62 million. TScan Therapeutics had a negative net margin of 1,188.88% and a negative return on equity of 58.72%. On average, research analysts anticipate that TScan Therapeutics will post -1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wedbush reissued an "outperform" rating and issued a $7.00 price target on shares of TScan Therapeutics in a report on Tuesday, May 6th. HC Wainwright decreased their target price on shares of TScan Therapeutics from $15.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Needham & Company LLC reissued a "buy" rating and issued a $9.00 price target on shares of TScan Therapeutics in a research report on Tuesday, April 8th. Barclays cut their price target on shares of TScan Therapeutics from $14.00 to $3.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $10.00 price target on shares of TScan Therapeutics in a research note on Friday, March 14th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $7.80.

Insiders Place Their Bets

In other news, major shareholder Lynx1 Capital Management Lp acquired 1,200,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were bought at an average price of $1.20 per share, with a total value of $1,440,000.00. Following the acquisition, the insider now owns 7,946,141 shares of the company's stock, valued at $9,535,369.20. This trade represents a 17.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.35% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Lynx1 Capital Management LP increased its stake in shares of TScan Therapeutics by 2.5% in the 4th quarter. Lynx1 Capital Management LP now owns 5,357,347 shares of the company's stock valued at $16,286,000 after buying an additional 132,747 shares during the period. BVF Inc. IL boosted its holdings in TScan Therapeutics by 63.6% in the first quarter. BVF Inc. IL now owns 4,889,474 shares of the company's stock valued at $6,747,000 after acquiring an additional 1,900,000 shares during the last quarter. Checkpoint Capital L.P. increased its position 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 purchasing an additional 261,663 shares during the period. Aberdeen Group plc raised its holdings in TScan Therapeutics by 0.9% during the 1st quarter. Aberdeen Group plc now owns 891,448 shares of the company's stock worth $1,230,000 after purchasing an additional 7,744 shares during the last quarter. Finally, abrdn plc raised its holdings in TScan Therapeutics by 137.8% during the 4th quarter. abrdn plc now owns 883,704 shares of the company's stock worth $2,686,000 after purchasing an additional 512,049 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company's stock.

TScan Therapeutics Company 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.