TScan Therapeutics’ (TCRX) Buy Rating Reiterated at Needham & Company LLC

TScan Therapeutics (NASDAQ:TCRX)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $6.00 price target on the stock.

Several other equities research analysts also recently commented on TCRX. Wedbush lifted their target price on shares of TScan Therapeutics from $4.00 to $5.00 and gave the stock an “outperform” rating in a research report on Thursday, March 5th. 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of TScan Therapeutics in a research note on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.00.

TScan Therapeutics Price Performance

TScan Therapeutics stock opened at $0.87 on Tuesday. The company has a current ratio of 6.65, a quick ratio of 6.65 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $56.53 million, a PE ratio of -0.90 and a beta of 1.03. TScan Therapeutics has a 12 month low of $0.85 and a 12 month high of $2.57. The stock has a 50-day moving average price of $1.08 and a two-hundred day moving average price of $1.06.

TScan Therapeutics (NASDAQ:TCRX) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.22) earnings per share for the quarter, hitting the consensus estimate of ($0.22). TScan Therapeutics had a negative return on equity of 91.94% and a negative net margin of 1,360.61%.The company had revenue of $0.98 million for the quarter, compared to analysts’ expectations of $2.50 million. Analysts expect that TScan Therapeutics will post -1.11 EPS for the current year.

Institutional Investors Weigh In On TScan Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in shares of TScan Therapeutics by 48.7% during the 1st quarter. Bank of America Corp DE now owns 57,529 shares of the company’s stock worth $58,000 after buying an additional 18,829 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of TScan Therapeutics by 19.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,364,783 shares of the company’s stock worth $1,378,000 after buying an additional 223,714 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of TScan Therapeutics in the 1st quarter valued at $28,000. Kestra Advisory Services LLC bought a new stake in shares of TScan Therapeutics in the 1st quarter valued at $63,000. Finally, XTX Topco Ltd lifted its position in shares of TScan Therapeutics by 1,142.5% during the 4th quarter. XTX Topco Ltd now owns 219,001 shares of the company’s stock valued at $219,000 after acquiring an additional 201,375 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.