TScan Therapeutics (NASDAQ:TCRX) Announces Quarterly 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 data on Tuesday. The company reported ($0.28) earnings per share for the quarter, meeting the consensus estimate of ($0.28), Zacks reports. TScan Therapeutics had a negative return on equity of 55.76% and a negative net margin of 2,974.08%. The firm had revenue of $3.08 million during the quarter, compared to the consensus estimate of $1.31 million.

TScan Therapeutics Stock Up 6.0%

TCRX traded up $0.10 during trading on Wednesday, reaching $1.77. The stock had a trading volume of 265,829 shares, compared to its average volume of 473,253. The stock's 50 day moving average is $1.67 and its two-hundred day moving average is $1.68. The company has a current ratio of 8.55, a quick ratio of 8.55 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $100.16 million, a price-to-earnings ratio of -1.62 and a beta of 0.99. TScan Therapeutics has a one year low of $1.02 and a one year high of $6.23.

Insider Transactions at TScan Therapeutics

In other news, major shareholder Lynx1 Capital Management Lp acquired 1,388,794 shares of the firm's stock in a transaction on Monday, May 19th. The stock was acquired at an average price of $1.20 per share, for a total transaction of $1,666,552.80. Following the completion of the acquisition, the insider owned 6,746,141 shares in the company, valued at $8,095,369.20. This trade represents a 25.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.35% of the company's stock.

Hedge Funds Weigh In On TScan Therapeutics

A hedge fund recently raised its stake in TScan Therapeutics stock. JPMorgan Chase & Co. boosted its position in TScan Therapeutics, Inc. (NASDAQ:TCRX - Free Report) by 8.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 287,743 shares of the company's stock after purchasing an additional 22,642 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.51% of TScan Therapeutics worth $417,000 at the end of the most recent quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wedbush reissued an "outperform" rating and set a $7.00 target price on shares of TScan Therapeutics in a research note on Tuesday. HC Wainwright reduced their target price on TScan Therapeutics from $15.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Wall Street Zen raised TScan Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus 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.

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