Barclays Has Lowered Expectations for TScan Therapeutics (NASDAQ:TCRX) Stock Price

TScan Therapeutics (NASDAQ:TCRX - Get Free Report) had its price target reduced by stock analysts at Barclays from $14.00 to $3.00 in a research note issued to investors on Friday, MarketBeat reports. The firm currently has an "overweight" rating on the stock. Barclays's price objective would indicate a potential upside of 64.84% from the company's current price.

Several other analysts also recently commented on the stock. Needham & Company LLC lowered their target price on shares of TScan Therapeutics from $11.00 to $9.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. HC Wainwright reissued a "buy" rating and set a $15.00 target price on shares of TScan Therapeutics in a research report on Thursday, March 6th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $7.00 target price on shares of TScan Therapeutics in a report on Wednesday, March 5th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $9.20.

TScan Therapeutics Stock Down 2.2 %

TCRX traded down $0.04 during midday trading on Friday, reaching $1.82. 320,269 shares of the company were exchanged, compared to its average volume of 312,493. The company has a market cap of $97.14 million, a price-to-earnings ratio of -1.72 and a beta of 0.91. TScan Therapeutics has a one year low of $1.72 and a one year high of $9.69. The company's fifty day moving average price is $2.38 and its 200 day moving average price is $3.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.56 and a current ratio of 9.56.

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TScan Therapeutics (NASDAQ:TCRX - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The company had revenue of $0.67 million for the quarter, compared to the consensus estimate of $1.43 million. TScan Therapeutics had a negative return on equity of 58.72% and a negative net margin of 1,188.88%. As a group, analysts expect that TScan Therapeutics will post -1.12 EPS for the current year.

Hedge Funds Weigh In On TScan Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TCRX. State Street Corp lifted its position in shares of TScan Therapeutics by 24.4% during the 3rd quarter. State Street Corp now owns 756,499 shares of the company's stock valued at $3,767,000 after buying an additional 148,414 shares during the last quarter. abrdn plc raised its stake in TScan Therapeutics by 137.8% in the 4th quarter. abrdn plc now owns 883,704 shares of the company's stock valued at $2,686,000 after acquiring an additional 512,049 shares during the period. Geode Capital Management LLC lifted its holdings in TScan Therapeutics by 8.1% during the third quarter. Geode Capital Management LLC now owns 973,466 shares of the company's stock valued at $4,849,000 after purchasing an additional 72,967 shares during the last quarter. Stifel Financial Corp boosted its position in TScan Therapeutics by 3.9% during the third quarter. Stifel Financial Corp now owns 99,133 shares of the company's stock worth $494,000 after purchasing an additional 3,733 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of TScan Therapeutics in the third quarter worth about $112,000. 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.