Wedbush Equities Analysts Reduce Earnings Estimates for TScan Therapeutics, Inc. (NASDAQ:TCRX)

TScan Therapeutics, Inc. (NASDAQ:TCRX) – Analysts at Wedbush lowered their Q1 2024 earnings estimates for TScan Therapeutics in a research report issued to clients and investors on Wednesday, April 17th. Wedbush analyst D. Nierengarten now expects that the company will earn ($0.27) per share for the quarter, down from their previous forecast of ($0.26). Wedbush has a “Outperform” rating and a $10.00 price objective on the stock. The consensus estimate for TScan Therapeutics’ current full-year earnings is ($1.04) per share. Wedbush also issued estimates for TScan Therapeutics’ Q2 2024 earnings at ($0.23) EPS, Q3 2024 earnings at ($0.24) EPS, Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($0.98) EPS, FY2025 earnings at ($1.08) EPS, FY2026 earnings at ($1.13) EPS and FY2027 earnings at ($0.91) EPS.

TScan Therapeutics (NASDAQ:TCRX) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.08. TScan Therapeutics had a negative net margin of 423.86% and a negative return on equity of 60.65%. The company had revenue of $7.21 million during the quarter, compared to analysts’ expectations of $2.94 million.

Separately, HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of TScan Therapeutics in a research note on Thursday, March 7th.

TScan Therapeutics Stock Performance

NASDAQ TCRX opened at $6.92 on Friday. The company has a current ratio of 6.51, a quick ratio of 6.51 and a debt-to-equity ratio of 0.18. The firm has a 50-day simple moving average of $7.04 and a 200 day simple moving average of $5.64. TScan Therapeutics has a twelve month low of $1.62 and a twelve month high of $9.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCRX. BlackRock Inc. lifted its stake in TScan Therapeutics by 1.4% during the first quarter. BlackRock Inc. now owns 1,519,188 shares of the company’s stock worth $4,254,000 after purchasing an additional 20,650 shares during the period. Renaissance Technologies LLC bought a new position in TScan Therapeutics during the first quarter worth about $37,000. Woodline Partners LP lifted its stake in TScan Therapeutics by 37.1% during the first quarter. Woodline Partners LP now owns 136,930 shares of the company’s stock worth $383,000 after purchasing an additional 37,030 shares during the period. LPL Financial LLC bought a new position in TScan Therapeutics during the second quarter worth about $50,000. Finally, Jane Street Group LLC acquired a new stake in shares of TScan Therapeutics during the second quarter worth approximately $32,000. Institutional investors own 82.83% of the company’s stock.

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.