TScan Therapeutics (NASDAQ:TCRX) Shares Up 3% - Here's What Happened

Key Points

• Shares jumped about 3% midday to $1.04 (intraday high $1.08) on volume of 806,234 shares, roughly 36% above the average session volume.
• Analyst sentiment is mixed—three Buys, two Holds and one Sell—leaving a consensus rating of "Hold" and an average target price of $6.00, though firms like Wedbush recently raised their price target.
• The company is small with a market cap of about $59.18 million; it reported a narrower-than-expected quarterly loss of $0.18 per share and $2.57M revenue but remains unprofitable with very negative margins, while institutional investors own roughly 82.8% of the stock.

TScan Therapeutics, Inc. (NASDAQ:TCRX - Get Free Report)'s share price shot up 3% during mid-day trading on Monday . The stock traded as high as $1.08 and last traded at $1.04. 806,234 shares traded hands during trading, an increase of 36% from the average session volume of 593,329 shares. The stock had previously closed at $1.01.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TCRX. Wedbush lifted their price objective on shares of TScan Therapeutics from $4.00 to $5.00 and gave the company an "outperform" rating in a research report on Thursday, March 5th. Weiss Ratings restated a "sell (d-)" rating on shares of TScan Therapeutics in a research report on Thursday, January 22nd. Finally, Wall Street Zen cut shares of TScan Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, March 14th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, TScan Therapeutics currently has a consensus rating of "Hold" and an average target price of $6.00.

TScan Therapeutics Price Performance

The firm's 50-day moving average is $1.04 and its two-hundred day moving average is $1.28. The company has a market cap of $59.18 million, a P/E ratio of -1.04 and a beta of 1.02. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.41 and a quick ratio of 8.41.

TScan Therapeutics (NASDAQ:TCRX - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.09. TScan Therapeutics had a negative net margin of 1,256.81% and a negative return on equity of 79.36%. The company had revenue of $2.57 million for the quarter, compared to analysts' expectations of $2.44 million. Analysts anticipate that TScan Therapeutics, Inc. will post -1.12 earnings per share for the current year.

Institutional Investors Weigh In On TScan Therapeutics

Several large investors have recently bought and sold shares of TCRX. Boothbay Fund Management LLC increased its position 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 last quarter. Panagora Asset Management Inc. bought a new position in TScan Therapeutics during the fourth quarter valued at $25,000. HRT Financial LP bought a new position in TScan Therapeutics during the fourth quarter valued at $26,000. Voleon Capital Management LP bought a new position in TScan Therapeutics during the third quarter valued at $87,000. Finally, Marshall Wace LLP bought a new position in TScan Therapeutics during the second quarter valued at $78,000. Institutional investors own 82.83% of the company's stock.

TScan Therapeutics Company Profile

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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