Lifesci Capital Downgrades TScan Therapeutics (NASDAQ:TCRX) to Hold

TScan Therapeutics (NASDAQ:TCRX) was downgraded by equities researchers at Lifesci Capital from a “strong-buy” rating to a “hold” rating in a report released on Wednesday, Zacks reports.

Several other equities research analysts also recently commented on TCRX. Benchmark reiterated a “buy” rating on shares of TScan Therapeutics in a research report on Thursday, August 13th. Wedbush cut shares of TScan Therapeutics from a “buy” rating to a “neutral” rating and set a $1.00 price target for the company. in a research report on Wednesday. Wall Street Zen cut shares of TScan Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TScan Therapeutics in a research note on Friday, July 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $6.00 price target on shares of TScan Therapeutics in a report on Tuesday, June 23rd. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, TScan Therapeutics has an average rating of “Hold” and a consensus target price of $4.67.

TScan Therapeutics Price Performance

Shares of TCRX opened at $0.37 on Wednesday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.31. The stock has a market cap of $25.14 million, a PE ratio of -0.41 and a beta of 1.07. TScan Therapeutics has a 12-month low of $0.35 and a 12-month high of $2.57. The business has a 50-day simple moving average of $0.84 and a two-hundred day simple moving average of $0.98.

TScan Therapeutics (NASDAQ:TCRX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.02. TScan Therapeutics had a negative return on equity of 108.72% and a negative net margin of 1,655.35%.The firm had revenue of $1.05 million for the quarter, compared to analyst estimates of $1.88 million. Analysts anticipate that TScan Therapeutics will post -1.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TScan Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE bought a new position in TScan Therapeutics during the 2nd quarter worth approximately $48,000. BlackRock Inc. bought a new stake in shares of TScan Therapeutics in the 2nd quarter valued at $975,000. Panagora Asset Management Inc. bought a new stake in shares of TScan Therapeutics in the 4th quarter valued at $25,000. HRT Financial LP acquired a new stake in shares of TScan Therapeutics during the fourth quarter worth $26,000. Finally, Boothbay Fund Management LLC increased its position 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 worth $35,000 after buying an additional 8,121 shares during the period. 82.83% of the stock is currently owned by 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.