TScan Therapeutics (NASDAQ:TCRX) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

TScan Therapeutics (NASDAQ:TCRX) released its quarterly earnings results on Wednesday. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.09, FiscalAI reports. TScan Therapeutics had a negative return on equity of 73.33% and a negative net margin of 1,692.96%.The company had revenue of $2.57 million during the quarter.

TScan Therapeutics Stock Up 2.9%

TCRX stock traded up $0.03 during midday trading on Wednesday, reaching $1.07. 154,475 shares of the company’s stock traded hands, compared to its average volume of 485,512. The company has a market cap of $60.44 million, a price-to-earnings ratio of -0.95 and a beta of 1.03. The company has a quick ratio of 6.44, a current ratio of 6.44 and a debt-to-equity ratio of 0.23. TScan Therapeutics has a 52 week low of $0.88 and a 52 week high of $2.57. The firm’s fifty day moving average price is $1.06 and its 200-day moving average price is $1.40.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of TScan Therapeutics in a research note on Thursday, January 22nd. Morgan Stanley downgraded TScan Therapeutics from an “overweight” rating to an “equal weight” rating in a research report on Friday, November 14th. Needham & Company LLC dropped their price target on TScan Therapeutics from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. BTIG Research cut TScan Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 4th. Finally, HC Wainwright decreased their price objective on TScan Therapeutics from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.60.

Insider Activity

In related news, major shareholder Lynx1 Capital Management Lp bought 75,500 shares of the stock in a transaction dated Monday, December 22nd. The stock was bought at an average price of $0.90 per share, with a total value of $67,950.00. Following the purchase, the insider owned 8,012,916 shares in the company, valued at approximately $7,211,624.40. The trade was a 0.95% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders 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

Institutional investors have recently modified their holdings of the business. Marshall Wace LLP grew its holdings in shares of TScan Therapeutics by 627.5% in the fourth quarter. Marshall Wace LLP now owns 339,240 shares of the company’s stock worth $339,000 after acquiring an additional 292,610 shares during the period. Virtu Financial LLC raised its position in shares of TScan Therapeutics by 431.1% during the 3rd quarter. Virtu Financial LLC now owns 60,480 shares of the company’s stock valued at $110,000 after buying an additional 49,092 shares in the last quarter. Militia Capital Partners LP purchased a new stake in TScan Therapeutics in the 2nd quarter worth about $137,000. Bridgeway Capital Management LLC lifted its stake in TScan Therapeutics by 35.7% in the second quarter. Bridgeway Capital Management LLC now owns 153,700 shares of the company’s stock worth $223,000 after purchasing an additional 40,400 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of TScan Therapeutics by 28.0% during the second quarter. Bank of America Corp DE now owns 217,967 shares of the company’s stock valued at $316,000 after buying an additional 47,617 shares during the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

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.