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

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

TScan Therapeutics Trading Up 3.5 %

Shares of TCRX traded up $0.05 during midday trading on Wednesday, hitting $1.32. The stock had a trading volume of 102,408 shares, compared to its average volume of 334,735. TScan Therapeutics has a 1 year low of $1.26 and a 1 year high of $9.69. 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 stock’s 50 day moving average is $2.00 and its 200 day moving average is $3.50. The firm has a market cap of $74.42 million, a PE ratio of -1.25 and a beta of 0.91.

TScan Therapeutics (NASDAQ:TCRX) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The firm had revenue of $0.67 million during the quarter, compared to the consensus estimate of $1.43 million. TScan Therapeutics had a negative return on equity of 58.72% and a negative net margin of 1,188.88%. As a group, analysts forecast that TScan Therapeutics will post -1.12 EPS for the current fiscal year.

Institutional Investors Weigh In On TScan Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Checkpoint Capital L.P. bought a new position in TScan Therapeutics in the 3rd quarter valued at $4,110,000. abrdn plc grew its holdings 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 purchasing an additional 512,049 shares during the last quarter. State Street Corp increased its stake in TScan Therapeutics by 24.4% in the 3rd quarter. State Street Corp now owns 756,499 shares of the company’s stock worth $3,767,000 after buying an additional 148,414 shares during the period. Dimensional Fund Advisors LP lifted its holdings 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 buying an additional 145,731 shares in the last quarter. Finally, Lynx1 Capital Management LP boosted its position 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 valued at $16,286,000 after buying an additional 132,747 shares during the period. 82.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Needham & Company LLC cut their price objective on TScan Therapeutics from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of TScan Therapeutics in a research note on Thursday, March 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of TScan Therapeutics in a research note on Friday, March 14th. Wedbush reissued an “outperform” rating and issued a $7.00 target price on shares of TScan Therapeutics in a report on Wednesday, March 5th. Finally, Barclays reduced their price target on shares of TScan Therapeutics from $14.00 to $3.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $9.33.

About TScan Therapeutics

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.