Short Interest in TScan Therapeutics, Inc. (NASDAQ:TCRX) Grows By 91.3%

TScan Therapeutics, Inc. (NASDAQ:TCRX) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 419,700 shares, an increase of 91.3% from the March 31st total of 219,400 shares. Based on an average trading volume of 193,600 shares, the short-interest ratio is currently 2.2 days. Approximately 1.1% of the company’s shares are short sold.

Institutional Trading of TScan Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TCRX. Cannon Global Investment Management LLC acquired a new stake in TScan Therapeutics in the 1st quarter valued at about $139,000. Pale Fire Capital SE boosted its stake in shares of TScan Therapeutics by 30.2% during the fourth quarter. Pale Fire Capital SE now owns 21,573 shares of the company’s stock valued at $126,000 after acquiring an additional 4,998 shares during the last quarter. abrdn plc purchased a new stake in TScan Therapeutics during the 4th quarter worth about $1,166,000. Finally, Letko Brosseau & Associates Inc. acquired a new position in TScan Therapeutics in the 3rd quarter valued at about $83,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

TScan Therapeutics Stock Performance

Shares of TCRX stock traded up $0.03 during trading on Friday, reaching $7.32. The company’s stock had a trading volume of 92,052 shares, compared to its average volume of 210,320. The company has a current ratio of 6.51, a quick ratio of 6.51 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average price is $7.19 and its 200 day moving average price is $5.83. TScan Therapeutics has a 1-year low of $1.62 and a 1-year high of $9.00.

TScan Therapeutics (NASDAQ:TCRX) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.08. TScan Therapeutics had a negative net margin of 423.86% and a negative return on equity of 60.65%. The company had revenue of $7.21 million during the quarter, compared to analysts’ expectations of $2.94 million. On average, equities analysts anticipate that TScan Therapeutics will post -1.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of TScan Therapeutics in a research report on Thursday, March 7th. Wedbush restated an “outperform” rating and issued a $10.00 price objective on shares of TScan Therapeutics in a report on Tuesday, April 23rd.

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.