TScan Therapeutics (NASDAQ:TCRX) Trading Down 4% - Here's Why

TScan Therapeutics, Inc. (NASDAQ:TCRX - Get Free Report)'s share price was down 4% during mid-day trading on Monday . The stock traded as low as $1.45 and last traded at $1.45. Approximately 342,609 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 407,715 shares. The stock had previously closed at $1.51.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wedbush reiterated an "outperform" rating and set a $7.00 price objective on shares of TScan Therapeutics in a report on Tuesday, May 6th. HC Wainwright cut their price objective on TScan Therapeutics from $15.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Wall Street Zen cut TScan Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. Needham & Company LLC restated a "buy" rating and issued a $9.00 price target on shares of TScan Therapeutics in a research note on Tuesday, April 8th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $10.00 price objective on shares of TScan Therapeutics in a report on Friday, March 14th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $7.80.

TScan Therapeutics Price Performance

The firm has a market cap of $104.13 million, a P/E ratio of -1.69 and a beta of 0.97. 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 business has a 50-day moving average of $1.48 and a two-hundred day moving average of $1.85.

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 analysts' consensus estimates of ($0.28) by $0.02. 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 $2.17 million for the quarter, compared to analyst estimates of $1.62 million. On average, sell-side analysts anticipate that TScan Therapeutics, Inc. will post -1.12 earnings per share for the current fiscal year.

Insider Activity at TScan Therapeutics

In other TScan Therapeutics news, major shareholder Lynx1 Capital Management Lp bought 1,200,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were bought at an average price of $1.20 per share, for a total transaction of $1,440,000.00. Following the transaction, the insider directly owned 7,946,141 shares in the company, valued at approximately $9,535,369.20. This trade represents a 17.79% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TScan Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Prudential Financial Inc. acquired a new position in TScan Therapeutics during the 4th quarter worth approximately $32,000. ProShare Advisors LLC purchased a new stake in shares of TScan Therapeutics during the fourth quarter valued at approximately $40,000. Squarepoint Ops LLC purchased a new stake in shares of TScan Therapeutics during the fourth quarter valued at approximately $59,000. Wells Fargo & Company MN raised its stake in shares of TScan Therapeutics by 41.1% in the fourth quarter. Wells Fargo & Company MN now owns 19,540 shares of the company's stock valued at $59,000 after buying an additional 5,694 shares during the period. Finally, Heck Capital Advisors LLC bought a new stake in shares of TScan Therapeutics in the fourth quarter valued at $61,000. Institutional investors own 82.83% of the company's stock.

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.