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

TScan Therapeutics, Inc. (NASDAQ:TCRX - Get Free Report) was down 4% on Monday . The company traded as low as $1.45 and last traded at $1.45. Approximately 342,609 shares traded hands during 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 firms have commented on TCRX. Wall Street Zen cut shares of TScan Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Morgan Stanley reaffirmed an "overweight" rating and set a $10.00 price objective on shares of TScan Therapeutics in a research report on Friday, March 14th. HC Wainwright lowered their price objective on shares of TScan Therapeutics from $15.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $9.00 price objective on shares of TScan Therapeutics in a research report on Tuesday, April 8th. Finally, Wedbush reiterated an "outperform" rating and issued a $7.00 price objective on shares of TScan Therapeutics in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $7.80.

TScan Therapeutics Price Performance

The stock has a market capitalization of $102.43 million, a price-to-earnings ratio of -1.66 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 8.55 and a current ratio of 8.55. The company has a 50 day moving average of $1.49 and a 200 day moving average of $1.84.

TScan Therapeutics (NASDAQ:TCRX - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.62 million. As a group, equities research analysts anticipate that TScan Therapeutics, Inc. will post -1.12 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Lynx1 Capital Management Lp bought 1,200,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were purchased at an average cost of $1.20 per share, with a total value of $1,440,000.00. Following the transaction, the insider directly owned 7,946,141 shares of the company's stock, valued at approximately $9,535,369.20. This represents a 17.79% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TScan Therapeutics

Several hedge funds have recently made changes to their positions in TCRX. Tocqueville Asset Management L.P. lifted its position in TScan Therapeutics by 26.8% during the 4th quarter. Tocqueville Asset Management L.P. now owns 260,870 shares of the company's stock worth $793,000 after acquiring an additional 55,140 shares during the period. Prudential Financial Inc. purchased a new position in shares of TScan Therapeutics during the 4th quarter worth approximately $32,000. JPMorgan Chase & Co. raised its stake in shares of TScan Therapeutics by 109.9% during the 4th quarter. JPMorgan Chase & Co. now owns 66,756 shares of the company's stock worth $203,000 after buying an additional 34,951 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of TScan Therapeutics by 5.2% during the 4th quarter. Wellington Management Group LLP now owns 132,895 shares of the company's stock worth $404,000 after buying an additional 6,550 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of TScan Therapeutics by 41.1% during the 4th quarter. Wells Fargo & Company MN now owns 19,540 shares of the company's stock worth $59,000 after buying an additional 5,694 shares in the last quarter. Hedge funds and other 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.