TScan Therapeutics (NASDAQ:TCRX) Earns Buy Rating from Needham & Company LLC

TScan Therapeutics (NASDAQ:TCRX)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They presently have a $11.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 264.24% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of TScan Therapeutics in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $7.00 price objective (down from $10.00) on shares of TScan Therapeutics in a report on Tuesday.

TScan Therapeutics Price Performance

TCRX opened at $3.02 on Wednesday. The firm has a market capitalization of $161.18 million, a PE ratio of -2.85 and a beta of 0.79. TScan Therapeutics has a 52 week low of $2.60 and a 52 week high of $9.69. The company has a fifty day moving average price of $4.87 and a two-hundred day moving average price of $5.91. 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 (NASDAQ:TCRX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.03. TScan Therapeutics had a negative return on equity of 58.72% and a negative net margin of 1,188.88%. The business had revenue of $1.05 million for the quarter, compared to analyst estimates of $2.86 million. As a group, analysts anticipate that TScan Therapeutics will post -1.12 earnings per share for the current year.

Insider Buying and Selling

In other TScan Therapeutics news, Director Barbara Klencke acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was bought at an average cost of $5.29 per share, with a total value of $26,450.00. Following the acquisition, the director now owns 45,000 shares in the company, valued at approximately $238,050. This represents a 12.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.76% of the stock is owned by insiders.

Hedge Funds Weigh In On TScan Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP bought a new position in shares of TScan Therapeutics during the second quarter valued at approximately $70,000. SG Americas Securities LLC purchased a new stake in shares of TScan Therapeutics during the third quarter worth $78,000. The Manufacturers Life Insurance Company acquired a new position in TScan Therapeutics in the 2nd quarter valued at about $90,000. XTX Topco Ltd purchased a new position in shares of TScan Therapeutics during the third quarter worth $112,000. Finally, MetLife Investment Management LLC raised its position in TScan Therapeutics by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 23,363 shares of the company’s stock valued at $116,000 after purchasing an additional 13,164 shares in the last quarter. 82.83% of the stock is owned by institutional investors.

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.