Morgan Stanley Maintains Overweight Rating on TScan Therapeutics

Morgan Stanley has reiterated its overweight rating on TScan Therapeutics (NASDAQ:TCRX – Free Report) according to a recent research note shared on Friday morning, as reported by Benzinga. The firm has set a price target of $10.00 for the stock.

Several other equity research analysts have also made comments regarding TScan Therapeutics. On Wednesday, March 5th, Needham & Company LLC reduced their price target for the company from $11.00 to $9.00, while maintaining a “buy” rating. Wedbush also affirmed an “outperform” rating, setting a $7.00 target price for shares of TScan Therapeutics on the same date. On March 7th, Barclays lowered its price target from $14.00 to $3.00 while keeping an “overweight” rating. In another note from March 6th, HC Wainwright reaffirmed a “buy” rating with a $15.00 price target for the stock. Currently, six research analysts have given the stock a buy rating. According to MarketBeat, TScan Therapeutics has a consensus rating of “Buy” and an average price target of $9.33.

TScan Therapeutics Stock Performance

On Friday, TScan Therapeutics shares opened at $1.74. The company possesses a quick ratio of 9.56, a current ratio of 9.56, and a debt-to-equity ratio of 0.13. The stock's 50-day simple moving average sits at $2.28, whereas the 200-day moving average is $3.85. Over the past fifty-two weeks, TScan has experienced a low of $1.71 and a high of $9.69. The market capitalization for TScan Therapeutics currently stands at $98.47 million, with a P/E ratio of -1.64 and a beta of 0.91.

Recent Earnings Report

TScan Therapeutics recently disclosed its quarterly earnings on March 5th, reporting earnings per share (EPS) of ($0.29), which missed the consensus estimate of ($0.27) by $0.02. The company reported a negative return on equity of 58.72% and a staggering negative net margin of 1,188.88%. Revenue for the quarter was recorded at $0.67 million, falling short of analyst expectations of $1.43 million. Analysts anticipate that TScan Therapeutics will report -1.12 EPS for the current fiscal year.

Institutional Investment Activity

Recently, multiple hedge funds have engaged in trading shares of TScan Therapeutics. Checkpoint Capital L.P. established a new position in the company worth approximately $4,110,000 during the third quarter. In the fourth quarter, abrdn plc increased its stake by 137.8%, now holding 883,704 shares valued at $2,686,000 after acquiring an additional 512,049 shares. State Street Corp raised its position by 24.4% in the third quarter, now possessing 756,499 shares valued at around $3,767,000 due to an increase of 148,414 shares. Dimensional Fund Advisors LP enhanced its ownership in the fourth quarter by 108.5%, owning 280,028 shares valued at $851,000 after additional purchases of 145,731 shares. Lynx1 Capital Management LP also lifted its stake by 2.5%, now owning 5,357,347 shares worth $16,286,000 after acquiring an additional 132,747 shares in the last quarter. Notably, about 82.83% of TScan's stock is held by institutional investors.

About TScan Therapeutics

TScan Therapeutics, Inc. is a clinical-stage biopharmaceutical firm focusing on the development of T cell receptor-engineered T cell (TCR-T) therapies aimed at treating cancer patients in the United States. Their leading product candidates, TSC-100 and TSC-101, are currently in Phase I clinical trials targeting the treatment of hematologic malignancies to eliminate residual disease and avert relapse following allogeneic hematopoietic cell transplantation.

TScan, Therapeutics, Morgan, Stanley, Stocks