TScan Therapeutics (NASDAQ:TCRX) Trading Down 11.9% - Here's What Happened

TScan Therapeutics, Inc. (NASDAQ:TCRX - Get Free Report)'s share price dropped 11.9% during trading on Monday . The company traded as low as $1.84 and last traded at $1.85. Approximately 339,391 shares were traded during trading, an increase of 10% from the average daily volume of 308,876 shares. The stock had previously closed at $2.10.

Analyst Ratings Changes

A number of brokerages recently issued reports on TCRX. Barclays reduced their price target on TScan Therapeutics from $14.00 to $3.00 and set an "overweight" rating on the stock in a research report on Friday. Wedbush reaffirmed an "outperform" rating and issued a $7.00 price objective on shares of TScan Therapeutics in a research note on Wednesday. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 price objective on shares of TScan Therapeutics in a research report on Thursday. Finally, Needham & Company LLC decreased their target price on shares of TScan Therapeutics from $11.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $9.20.

TScan Therapeutics Stock Down 3.4 %

The company has a quick ratio of 9.56, a current ratio of 9.56 and a debt-to-equity ratio of 0.13. The company has a 50 day simple moving average of $2.43 and a two-hundred day simple moving average of $4.04. The company has a market capitalization of $107.28 million, a P/E ratio of -1.90 and a beta of 0.91.

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

Hedge Funds Weigh In On TScan Therapeutics

Several institutional investors have recently bought and sold shares of TCRX. State Street Corp lifted its position in TScan Therapeutics by 24.4% in the third quarter. State Street Corp now owns 756,499 shares of the company's stock valued at $3,767,000 after acquiring an additional 148,414 shares during the last quarter. abrdn plc boosted its position in TScan Therapeutics by 137.8% during the fourth quarter. abrdn plc now owns 883,704 shares of the company's stock worth $2,686,000 after purchasing an additional 512,049 shares in the last quarter. Geode Capital Management LLC increased its position in shares of TScan Therapeutics by 8.1% in the third quarter. Geode Capital Management LLC now owns 973,466 shares of the company's stock valued at $4,849,000 after buying an additional 72,967 shares in the last quarter. Stifel Financial Corp grew its stake in TScan Therapeutics by 3.9% in the 3rd quarter. Stifel Financial Corp now owns 99,133 shares of the company's stock valued at $494,000 after acquiring an additional 3,733 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in TScan Therapeutics during the 3rd quarter valued at about $112,000. 82.83% of the stock is owned by institutional investors and hedge funds.

TScan Therapeutics Company Profile

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.