TScan Therapeutics, Inc. (NASDAQ:TCRX) Sees Significant Decrease in Short Interest

TScan Therapeutics, Inc. (NASDAQ:TCRX) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 1,900,000 shares, a drop of 14.8% from the February 28th total of 2,230,000 shares. Based on an average trading volume of 433,800 shares, the days-to-cover ratio is currently 4.4 days. Approximately 4.4% of the company’s stock are short sold.

Analysts Set New Price Targets

TCRX has been the subject of several recent analyst reports. Barclays decreased their target price on shares of TScan Therapeutics from $14.00 to $3.00 and set an “overweight” rating for the company in a report on Friday, March 7th. HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of TScan Therapeutics in a research note on Thursday, March 6th. Morgan Stanley restated an “overweight” rating and issued a $10.00 price target on shares of TScan Therapeutics in a research note on Friday, March 14th. Wedbush reiterated an “outperform” rating and issued a $7.00 price objective on shares of TScan Therapeutics in a report on Wednesday, March 5th. Finally, Needham & Company LLC lowered their target price on shares of TScan Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, TScan Therapeutics presently has an average rating of “Buy” and a consensus target price of $9.33.

TScan Therapeutics Stock Performance

Shares of NASDAQ:TCRX traded up $0.05 during midday trading on Wednesday, hitting $1.32. The company had a trading volume of 102,408 shares, compared to its average volume of 334,735. The company has a market cap of $74.42 million, a price-to-earnings ratio of -1.25 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.56 and a quick ratio of 9.56. The company has a fifty day moving average of $2.00 and a two-hundred day moving average of $3.50. TScan Therapeutics has a 12-month low of $1.26 and a 12-month high of $9.69.

TScan Therapeutics (NASDAQ:TCRX) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The company 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%. On average, equities research analysts expect that TScan Therapeutics will post -1.12 EPS for the current fiscal year.

Institutional Trading of TScan Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Checkpoint Capital L.P. bought a new position in TScan Therapeutics in the 3rd quarter worth $4,110,000. abrdn plc boosted its stake in shares of TScan Therapeutics by 137.8% in the fourth quarter. abrdn plc now owns 883,704 shares of the company’s stock worth $2,686,000 after acquiring an additional 512,049 shares during the period. State Street Corp grew its position in shares of TScan Therapeutics by 24.4% during the third quarter. State Street Corp now owns 756,499 shares of the company’s stock worth $3,767,000 after purchasing an additional 148,414 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in TScan Therapeutics by 108.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 280,028 shares of the company’s stock valued at $851,000 after purchasing an additional 145,731 shares during the period. Finally, Lynx1 Capital Management LP lifted its holdings in TScan Therapeutics by 2.5% in the 4th quarter. Lynx1 Capital Management LP now owns 5,357,347 shares of the company’s stock worth $16,286,000 after purchasing an additional 132,747 shares in the last quarter. 82.83% of the stock is owned by hedge funds and other institutional investors.

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.