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

TScan Therapeutics, Inc. (NASDAQ:TCRX) saw a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 2,000,000 shares, a decrease of 20.6% from the December 31st total of 2,520,000 shares. Based on an average daily volume of 403,800 shares, the days-to-cover ratio is currently 5.0 days. Approximately 4.6% of the shares of the company are short sold.

Hedge Funds Weigh In On TScan Therapeutics

Hedge funds have recently made changes to their positions in the company. Great Point Partners LLC boosted its stake in shares of TScan Therapeutics by 8.0% in the third quarter. Great Point Partners LLC now owns 1,016,375 shares of the company’s stock worth $5,062,000 after acquiring an additional 75,544 shares during the last quarter. Geode Capital Management LLC boosted its stake in TScan Therapeutics by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 973,466 shares of the company’s stock worth $4,849,000 after purchasing an additional 72,967 shares during the last quarter. abrdn plc boosted its stake in TScan Therapeutics by 137.8% during the 4th 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. Checkpoint Capital L.P. purchased a new stake in shares of TScan Therapeutics during the third quarter worth $4,110,000. Finally, State Street Corp raised its position in shares of TScan Therapeutics by 24.4% in the third quarter. State Street Corp now owns 756,499 shares of the company’s stock valued at $3,767,000 after buying an additional 148,414 shares during the last quarter. Institutional investors and hedge funds own 82.83% of the company’s stock.

TScan Therapeutics Stock Down 0.4 %

NASDAQ:TCRX opened at $2.57 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.56 and a current ratio of 9.56. TScan Therapeutics has a 52 week low of $2.31 and a 52 week high of $9.69. The stock’s 50-day moving average price is $3.20 and its 200-day moving average price is $4.79.

TScan Therapeutics (NASDAQ:TCRX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.03. TScan Therapeutics had a negative net margin of 1,188.88% and a negative return on equity of 58.72%. The business had revenue of $1.05 million for the quarter, compared to analyst estimates of $2.86 million. Sell-side analysts predict that TScan Therapeutics will post -1.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on TCRX shares. Wedbush reaffirmed an “outperform” rating and set a $7.00 target price on shares of TScan Therapeutics in a report on Monday, December 23rd. Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of TScan Therapeutics in a research report on Wednesday, December 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of TScan Therapeutics in a report on Wednesday, December 11th.

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.