Needham & Company LLC Has Lowered Expectations for TScan Therapeutics (NASDAQ:TCRX) Stock Price

TScan Therapeutics (NASDAQ:TCRX) had its price target dropped by Needham & Company LLC from $11.00 to $9.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 371.20% from the company’s previous close.

TCRX has been the topic of several other reports. HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of TScan Therapeutics in a research note on Wednesday, December 11th. Wedbush reiterated an “outperform” rating and issued a $7.00 target price on shares of TScan Therapeutics in a research report on Monday, December 23rd.

TScan Therapeutics Price Performance

NASDAQ:TCRX traded down $0.11 during midday trading on Wednesday, hitting $1.91. The company had a trading volume of 98,918 shares, compared to its average volume of 308,911. The company has a market capitalization of $101.94 million, a PE ratio of -1.81 and a beta of 0.87. The company has a quick ratio of 9.56, a current ratio of 9.56 and a debt-to-equity ratio of 0.13. TScan Therapeutics has a 52-week low of $1.82 and a 52-week high of $9.69. The stock’s fifty day moving average price is $2.47 and its 200-day moving average price is $4.07.

TScan Therapeutics (NASDAQ:TCRX) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). TScan Therapeutics had a negative return on equity of 58.72% and a negative net margin of 1,188.88%. As a group, research analysts expect that TScan Therapeutics will post -1.12 earnings per share for the current year.

Institutional Trading of TScan Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. bought a new stake in TScan Therapeutics during the 4th quarter valued at $32,000. Prudential Financial Inc. purchased a new position in shares of TScan Therapeutics in the fourth quarter valued at about $32,000. ProShare Advisors LLC bought a new position in shares of TScan Therapeutics during the fourth quarter valued at about $40,000. Wells Fargo & Company MN boosted its holdings in shares of TScan Therapeutics by 41.1% during the fourth quarter. Wells Fargo & Company MN now owns 19,540 shares of the company’s stock worth $59,000 after purchasing an additional 5,694 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of TScan Therapeutics during the fourth quarter worth about $59,000. Hedge funds and other 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.