Wall Street Zen Downgrades TScan Therapeutics (NASDAQ:TCRX) to Sell

TScan Therapeutics (NASDAQ:TCRX) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other equities analysts have also recently issued reports on the stock. Wedbush boosted their price target 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 reaffirmed a “sell (d-)” rating on shares of TScan Therapeutics in a research report on Thursday, January 22nd. Finally, Morgan Stanley downgraded TScan Therapeutics from an “overweight” rating to an “equal weight” rating in a report on Friday, November 14th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.00.

TScan Therapeutics Stock Performance

NASDAQ:TCRX opened at $1.05 on Friday. The stock has a market cap of $59.59 million, a P/E ratio of -1.05 and a beta of 1.03. The firm’s fifty day simple moving average is $1.08 and its 200 day simple moving average is $1.36. TScan Therapeutics has a twelve month low of $0.88 and a twelve month high of $2.57. The company has a quick ratio of 8.41, a current ratio of 8.41 and a debt-to-equity ratio of 0.26.

TScan Therapeutics (NASDAQ:TCRX) last issued its quarterly earnings data on Wednesday, March 4th. The company reported ($0.18) EPS 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 business had revenue of $2.57 million during the quarter, compared to analyst estimates of $2.44 million. As a group, research analysts predict that TScan Therapeutics will post -1.12 EPS for the current year.

Insider Transactions at TScan Therapeutics

In other TScan Therapeutics news, major shareholder Lynx1 Capital Management Lp purchased 80,069 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was bought at an average cost of $0.90 per share, with a total value of $72,062.10. Following the transaction, the insider directly owned 7,937,416 shares in the company, valued at approximately $7,143,674.40. The trade was a 1.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have bought 161,801 shares of company stock worth $145,621. Company insiders own 4.35% of the company’s stock.

Institutional Investors Weigh In On TScan Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TCRX. Boothbay Fund Management LLC lifted its holdings in shares of 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 purchasing an additional 8,121 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of TScan Therapeutics by 6.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 170,349 shares of the company’s stock worth $235,000 after buying an additional 9,676 shares during the last quarter. Catalyst Funds Management Pty Ltd purchased a new stake in shares of TScan Therapeutics in the 2nd quarter worth approximately $26,000. Letko Brosseau & Associates Inc. increased its position in TScan Therapeutics by 24.4% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 95,875 shares of the company’s stock valued at $139,000 after buying an additional 18,775 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in TScan Therapeutics during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

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.