Short Interest in TScan Therapeutics, Inc. (NASDAQ:TCRX) Grows By 95.5%

TScan Therapeutics, Inc. (NASDAQ:TCRX) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totaling 1,384,530 shares, an increase of 95.5% from the June 30th total of 708,200 shares. Based on an average trading volume of 1,160,818 shares, the short-interest ratio is currently 1.2 days. Currently, 2.3% of the company’s shares are sold short.

Analyst Ratings Changes

TCRX has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $6.00 target price on shares of TScan Therapeutics in a research report on Tuesday, June 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of TScan Therapeutics in a report on Friday, July 17th. Wall Street Zen cut TScan Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Finally, Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of TScan Therapeutics in a research report on Tuesday, June 23rd. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Hedge Funds Weigh In On TScan Therapeutics

Institutional investors have recently modified their holdings of the company. Panagora Asset Management Inc. bought a new position in shares of TScan Therapeutics in the 4th quarter worth $25,000. HRT Financial LP bought a new stake in TScan Therapeutics during the 4th quarter valued at $26,000. Public Employees Retirement System of Ohio bought a new stake in TScan Therapeutics during the 1st quarter valued at $28,000. Boothbay Fund Management LLC raised its holdings in 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 last quarter. Finally, Bank of America Corp DE raised its holdings in TScan Therapeutics by 48.7% during the first 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 during the last quarter. 82.83% of the stock is owned by institutional investors and hedge funds.

TScan Therapeutics Stock Performance

Shares of TCRX opened at $0.74 on Thursday. TScan Therapeutics has a one year low of $0.73 and a one year high of $2.57. The company has a market cap of $48.46 million, a PE ratio of -0.77 and a beta of 1.04. The stock has a 50-day moving average of $0.96 and a 200-day moving average of $1.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.65 and a quick ratio of 6.65.

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

TScan Therapeutics Company Profile

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.