TScan Therapeutics (NASDAQ:TCRX) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

TScan Therapeutics (NASDAQ:TCRX) posted its quarterly earnings results on Wednesday. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.06, FiscalAI reports. TScan Therapeutics had a negative net margin of 1,360.61% and a negative return on equity of 91.94%. The business had revenue of $1.05 million during the quarter, compared to analysts’ expectations of $1.88 million.

TScan Therapeutics Stock Down 2.4%

Shares of TCRX stock traded down $0.02 on Wednesday, hitting $0.76. The stock had a trading volume of 380,211 shares, compared to its average volume of 705,040. TScan Therapeutics has a 12-month low of $0.72 and a 12-month high of $2.57. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.65 and a quick ratio of 6.65. The business has a 50 day moving average of $0.91 and a 200 day moving average of $1.02. The stock has a market cap of $49.56 million, a price-to-earnings ratio of -0.79 and a beta of 1.06.

Institutional Investors Weigh In On TScan Therapeutics

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in TScan Therapeutics by 7.8% during the third quarter. Vanguard Group Inc. now owns 2,317,916 shares of the company’s stock worth $4,219,000 after buying an additional 168,540 shares during the last quarter. Renaissance Technologies LLC raised its position in TScan Therapeutics by 37.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,141,069 shares of the company’s stock worth $1,141,000 after acquiring an additional 311,150 shares during the period. Two Sigma Investments LP boosted its stake in TScan Therapeutics by 14.9% in the third quarter. Two Sigma Investments LP now owns 419,404 shares of the company’s stock valued at $763,000 after acquiring an additional 54,370 shares during the last quarter. Citadel Advisors LLC boosted its stake in TScan Therapeutics by 78.4% in the third quarter. Citadel Advisors LLC now owns 390,747 shares of the company’s stock valued at $711,000 after acquiring an additional 171,760 shares during the last quarter. Finally, Jane Street Group LLC grew its position in shares of TScan Therapeutics by 377.5% during the 4th quarter. Jane Street Group LLC now owns 388,284 shares of the company’s stock valued at $388,000 after acquiring an additional 306,968 shares during the period. 82.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of TScan Therapeutics in a research note on Tuesday, June 23rd. HC Wainwright reiterated a “buy” rating on shares of TScan Therapeutics in a report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $6.00 price objective on shares of TScan Therapeutics in a report on Tuesday, June 23rd. Wall Street Zen lowered TScan Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of TScan Therapeutics in a report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.00.

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.