Short Interest in Tcr2 Therapeutics Inc (NASDAQ:TCRR) Rises By 41.0%

Tcr2 Therapeutics Inc (NASDAQ:TCRR) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 1,290,000 shares, an increase of 41.0% from the June 30th total of 915,000 shares. Based on an average daily trading volume, of 130,200 shares, the short-interest ratio is presently 9.9 days. Currently, 10.6% of the company’s shares are sold short.

Institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. increased its holdings in Tcr2 Therapeutics by 98.8% in the 1st quarter. Citigroup Inc. now owns 6,060 shares of the company’s stock worth $47,000 after purchasing an additional 3,011 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Tcr2 Therapeutics by 8.8% in the first quarter. JPMorgan Chase & Co. now owns 225,501 shares of the company’s stock valued at $1,745,000 after buying an additional 18,197 shares during the period. Geode Capital Management LLC increased its stake in shares of Tcr2 Therapeutics by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 175,719 shares of the company’s stock valued at $2,509,000 after buying an additional 13,548 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Tcr2 Therapeutics by 19.1% in the first quarter. Parametric Portfolio Associates LLC now owns 39,006 shares of the company’s stock valued at $302,000 after buying an additional 6,261 shares during the period. Finally, M&T Bank Corp increased its stake in shares of Tcr2 Therapeutics by 15.7% in the first quarter. M&T Bank Corp now owns 12,876 shares of the company’s stock valued at $100,000 after buying an additional 1,749 shares during the period. 59.20% of the stock is owned by institutional investors and hedge funds.

Tcr2 Therapeutics stock opened at $16.75 on Friday. Tcr2 Therapeutics has a 52 week low of $5.84 and a 52 week high of $21.06. The stock has a market capitalization of $403.34 million, a P/E ratio of -7.51 and a beta of 1.88. The stock has a fifty day moving average of $15.41 and a 200-day moving average of $12.28.

Tcr2 Therapeutics (NASDAQ:TCRR) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.05). As a group, research analysts anticipate that Tcr2 Therapeutics will post -2.54 earnings per share for the current year.

TCRR has been the topic of several recent analyst reports. BidaskClub cut Tcr2 Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Wedbush boosted their target price on Tcr2 Therapeutics from $25.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. ValuEngine lowered Tcr2 Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, July 2nd. Zacks Investment Research lowered Tcr2 Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, July 21st. Finally, Roth Capital upgraded Tcr2 Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $16.00 to $35.00 in a research note on Monday, July 27th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Tcr2 Therapeutics has an average rating of “Hold” and an average target price of $28.50.

About Tcr2 Therapeutics

TCR2 Therapeutics Inc, a clinical-stage immunotherapy company, develops novel T cell receptor therapies for patients suffering from cancer. Its product candidates in pipeline comprise TC-210 mono TCR Fusion Construct T cells (TRuC-T cells) targeting mesothelin positive solid tumors; TC-220 that targets MUC16 positive solid tumors; and TC-310 and TC-410 dual TRuC-T cell programs targeting CD19/22 and MSLN/MUC16, as well as TC-110 mono TRuC-T cells targeting CD19-positive B-Cell hematological malignancies.

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