Short Interest in TScan Therapeutics, Inc. (NASDAQ:TCRX) Declines By 14.8%

TScan Therapeutics, Inc. (NASDAQ:TCRX) was the recipient of a significant decline in short interest in the month of 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 company’s shares are short sold. Based on an average trading volume of 433,800 shares, the short-interest ratio is presently 4.4 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lynx1 Capital Management LP increased its holdings in TScan Therapeutics by 2.5% during 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of TScan Therapeutics by 8.1% in the third quarter. Geode Capital Management LLC now owns 973,466 shares of the company’s stock worth $4,849,000 after buying an additional 72,967 shares during the last quarter. abrdn plc raised its holdings in TScan Therapeutics by 137.8% in the fourth quarter. abrdn plc now owns 883,704 shares of the company’s stock valued at $2,686,000 after acquiring an additional 512,049 shares in the last quarter. Checkpoint Capital L.P. bought a new position in TScan Therapeutics during the 3rd quarter valued at $4,110,000. Finally, State Street Corp boosted its stake in TScan Therapeutics by 24.4% during the 3rd quarter. State Street Corp now owns 756,499 shares of the company’s stock valued at $3,767,000 after acquiring an additional 148,414 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

TScan Therapeutics Stock Performance

NASDAQ TCRX opened at $1.27 on Thursday. The stock has a market cap of $71.87 million, a P/E ratio of -1.20 and a beta of 0.91. The company’s fifty day simple moving average is $1.98 and its 200-day simple moving average is $3.49. The company has a current ratio of 9.56, a quick ratio of 9.56 and a debt-to-equity ratio of 0.13. TScan Therapeutics has a 52 week low of $1.26 and a 52 week high of $9.69.

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

Analyst Ratings Changes

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