TScan Therapeutics (NASDAQ:TCRX) Releases Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• TScan Therapeutics beat EPS expectations, reporting a quarterly loss of $0.23 per share versus the $0.29 consensus estimate. Revenue of $1.05 million fell short of analysts’ $1.88 million forecast, while profitability remained deeply negative.
• Shares slipped 0.6% to $0.77, near the company’s 52-week low of $0.72. The stock has a market capitalization of approximately $50.4 million and trades below both its 50-day and 200-day moving averages.
• Institutional investors own 82.83% of the company, with several hedge funds increasing their positions. Analyst sentiment is mixed—MarketBeat reports an average rating of Hold and a $6.00 price target, despite multiple Buy or Outperform ratings.

TScan Therapeutics (NASDAQ:TCRX - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.06, FiscalAI reports. The firm had revenue of $1.05 million during the quarter, compared to analyst estimates of $1.88 million. TScan Therapeutics had a negative return on equity of 91.94% and a negative net margin of 1,360.61%.

TScan Therapeutics Stock Down 0.6%

Shares of TScan Therapeutics stock traded down $0.00 on Wednesday, reaching $0.77. The stock had a trading volume of 336,359 shares, compared to its average volume of 704,891. The company has a 50 day moving average price of $0.91 and a 200 day moving average price of $1.02. The company has a quick ratio of 6.65, a current ratio of 6.65 and a debt-to-equity ratio of 0.34. TScan Therapeutics has a 1 year low of $0.72 and a 1 year high of $2.57. The stock has a market capitalization of $50.44 million, a P/E ratio of -0.80 and a beta of 1.06.

Institutional Investors Weigh In On TScan Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in TScan Therapeutics by 37.5% during the 4th quarter. Renaissance Technologies LLC now owns 1,141,069 shares of the company's stock valued at $1,141,000 after buying an additional 311,150 shares in the last quarter. Jane Street Group LLC boosted its holdings in TScan Therapeutics by 377.5% in the fourth quarter. Jane Street Group LLC now owns 388,284 shares of the company's stock worth $388,000 after acquiring an additional 306,968 shares in the last quarter. Marshall Wace LLP boosted its holdings in TScan Therapeutics by 627.5% in the fourth quarter. Marshall Wace LLP now owns 339,240 shares of the company's stock worth $339,000 after acquiring an additional 292,610 shares in the last quarter. XTX Topco Ltd boosted its holdings in TScan Therapeutics by 1,142.5% in the fourth quarter. XTX Topco Ltd now owns 219,001 shares of the company's stock worth $219,000 after acquiring an additional 201,375 shares in the last quarter. Finally, Citadel Advisors LLC grew its stake in shares of TScan Therapeutics by 78.4% during the third quarter. Citadel Advisors LLC now owns 390,747 shares of the company's stock worth $711,000 after acquiring an additional 171,760 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company's stock.

Analyst Upgrades and Downgrades

TCRX has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $6.00 target price on shares of TScan Therapeutics in a research report on Tuesday, June 23rd. HC Wainwright reaffirmed a "buy" rating on shares of TScan Therapeutics in a research note on Wednesday. Wedbush reaffirmed an "outperform" rating and set a $5.00 target price on shares of TScan Therapeutics in a research report on Tuesday, June 23rd. Wall Street Zen downgraded TScan Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, May 9th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of TScan Therapeutics in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, TScan Therapeutics 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.

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