Needham & Company LLC Cuts TScan Therapeutics (NASDAQ:TCRX) Price Target to $9.00

TScan Therapeutics (NASDAQ:TCRX) had its price objective reduced by stock analysts at Needham & Company LLC from $11.00 to $9.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 371.20% from the company’s current price.

A number of other brokerages have also recently commented on TCRX. Wedbush restated an “outperform” rating and set a $7.00 price target on shares of TScan Therapeutics in a research note on Monday, December 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of TScan Therapeutics in a report on Wednesday, December 11th.

TScan Therapeutics Stock Performance

NASDAQ:TCRX traded down $0.11 during trading hours on Wednesday, reaching $1.91. The stock had a trading volume of 98,918 shares, compared to its average volume of 308,911. The stock has a market cap of $101.94 million, a P/E ratio of -1.81 and a beta of 0.87. The stock has a 50 day simple moving average of $2.47 and a 200 day simple moving average of $4.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.56 and a current ratio of 9.56. TScan Therapeutics has a 12-month low of $1.82 and a 12-month high of $9.69.

TScan Therapeutics (NASDAQ:TCRX) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). TScan Therapeutics had a negative return on equity of 58.72% and a negative net margin of 1,188.88%. On average, research analysts forecast that TScan Therapeutics will post -1.12 EPS for the current fiscal year.

Hedge Funds Weigh In On TScan Therapeutics

Several hedge funds have recently bought and sold shares of TCRX. State Street Corp grew its position in shares of TScan Therapeutics by 24.4% during the 3rd quarter. State Street Corp now owns 756,499 shares of the company’s stock valued at $3,767,000 after purchasing an additional 148,414 shares in the last quarter. abrdn plc boosted its stake in TScan Therapeutics by 137.8% during the fourth quarter. abrdn plc now owns 883,704 shares of the company’s stock valued at $2,686,000 after buying an additional 512,049 shares during the period. Geode Capital Management LLC grew its position in TScan Therapeutics by 8.1% during the third quarter. Geode Capital Management LLC now owns 973,466 shares of the company’s stock worth $4,849,000 after buying an additional 72,967 shares in the last quarter. Stifel Financial Corp increased its stake in TScan Therapeutics by 3.9% in the 3rd quarter. Stifel Financial Corp now owns 99,133 shares of the company’s stock worth $494,000 after acquiring an additional 3,733 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of TScan Therapeutics in the 3rd quarter valued at about $112,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

TScan Therapeutics Company Profile

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.