TScan Therapeutics (NASDAQ:TCRX) Announces Earnings Results

Key Points

• TScan Therapeutics reported a quarterly loss of ($0.28) earnings per share, meeting consensus estimates, but showed strong revenue of $3.08 million compared to an expected $1.31 million.
• The company's stock increased by 6.0% to $1.77 after the earnings announcement, despite having a negative return on equity of 55.76%.
• JPMorgan Chase & Co. increased its stake in TScan Therapeutics by 8.5%, highlighting strong institutional interest in the company, with 82.83% of the stock owned by institutional investors.

TScan Therapeutics (NASDAQ:TCRX - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.28) EPS for the quarter, hitting analysts' consensus estimates of ($0.28), reports. 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 analyst estimates of $1.31 million.

TScan Therapeutics Stock Performance

Shares of NASDAQ:TCRX traded down $0.01 during mid-day trading on Monday, reaching $1.79. 103,935 shares of the company traded hands, compared to its average volume of 267,067. The company's 50 day moving average price is $1.68 and its 200-day moving average price is $1.65. The firm has a market cap of $101.30 million, a PE ratio of -1.64 and a beta of 0.99. TScan Therapeutics has a 52 week low of $1.02 and a 52 week 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.

Insider Buying and Selling

In other news, major shareholder Lynx1 Capital Management Lp purchased 1,200,000 shares of the stock in a transaction on Tuesday, May 20th. The shares were acquired at an average price of $1.20 per share, with a total value of $1,440,000.00. Following the completion of the acquisition, the insider directly owned 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 SEC, which is available through the SEC website. Insiders own 4.35% of the company's stock.

Institutional Trading of TScan Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Boothbay Fund Management LLC raised its holdings in TScan Therapeutics by 50.0% during the second quarter. Boothbay Fund Management LLC now owns 24,363 shares of the company's stock valued at $35,000 after acquiring an additional 8,121 shares during the period. Marshall Wace LLP bought a new stake in TScan Therapeutics during the 2nd quarter valued at approximately $78,000. Qube Research & Technologies Ltd purchased a new position in TScan Therapeutics in the 2nd quarter worth approximately $99,000. Militia Capital Partners LP bought a new position in TScan Therapeutics in the 2nd quarter worth approximately $137,000. Finally, Bridgeway Capital Management LLC grew its holdings in TScan Therapeutics by 35.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 153,700 shares of the company's stock valued at $223,000 after buying an additional 40,400 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. HC Wainwright lowered their price objective 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. Wall Street Zen raised TScan Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Wedbush restated an "outperform" rating and issued a $7.00 price target on shares of TScan Therapeutics in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $7.80.

About TScan Therapeutics

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.