Wedbush Forecasts Strong Price Appreciation for TScan Therapeutics (NASDAQ:TCRX) Stock

TScan Therapeutics (NASDAQ:TCRX) had its price objective lifted by research analysts at Wedbush from $4.00 to $5.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s target price indicates a potential upside of 362.96% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TScan Therapeutics in a research note on Thursday, January 22nd. HC Wainwright dropped their price target on shares of TScan Therapeutics from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Morgan Stanley downgraded shares of TScan Therapeutics from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 14th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.20.

TScan Therapeutics Stock Up 4.3%

Shares of NASDAQ TCRX opened at $1.08 on Thursday. The firm has a market cap of $61.29 million, a P/E ratio of -0.96 and a beta of 1.03. The company has a debt-to-equity ratio of 0.23, a quick ratio of 6.44 and a current ratio of 6.44. TScan Therapeutics has a 1 year low of $0.88 and a 1 year high of $2.57. The firm’s 50 day moving average price is $1.06 and its 200 day moving average price is $1.40.

TScan Therapeutics (NASDAQ:TCRX) last posted its quarterly earnings data on Wednesday, March 4th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.09. The business had revenue of $2.57 million for the quarter. TScan Therapeutics had a negative return on equity of 73.33% and a negative net margin of 1,692.96%. As a group, sell-side analysts anticipate that TScan Therapeutics will post -1.12 earnings per share for the current year.

Insider Buying and Selling

In other TScan Therapeutics news, major shareholder Lynx1 Capital Management Lp purchased 80,069 shares of TScan Therapeutics stock in a transaction on Friday, December 19th. The shares were purchased at an average cost of $0.90 per share, with a total value of $72,062.10. Following the completion of the transaction, the insider directly owned 7,937,416 shares in the company, valued at approximately $7,143,674.40. This represents a 1.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 161,801 shares of company stock valued at $145,621 in the last 90 days. Company insiders own 4.35% of the company’s stock.

Hedge Funds Weigh In On TScan Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in TCRX. Panagora Asset Management Inc. purchased a new position in TScan Therapeutics in the fourth quarter valued at about $25,000. HRT Financial LP purchased a new position in shares of TScan Therapeutics during the 4th quarter valued at approximately $26,000. Catalyst Funds Management Pty Ltd acquired a new stake in shares of TScan Therapeutics during the second quarter worth approximately $26,000. Quadrature Capital Ltd bought a new stake in shares of TScan Therapeutics in the second quarter worth $33,000. Finally, Boothbay Fund Management LLC raised its holdings in TScan Therapeutics by 50.0% in the second quarter. Boothbay Fund Management LLC now owns 24,363 shares of the company’s stock valued at $35,000 after acquiring an additional 8,121 shares in the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

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.