Traders Buy Large Volume of TCR2 Therapeutics Put Options (NASDAQ:TCRR)

TCR2 Therapeutics Inc. (NASDAQ:TCRR) saw unusually large options trading on Thursday. Stock traders purchased 739 put options on the stock. This represents an increase of approximately 1,003% compared to the average daily volume of 67 put options.

Several research firms have recently issued reports on TCRR. Mizuho started coverage on TCR2 Therapeutics in a research note on Thursday, May 13th. They set a “buy” rating and a $51.00 price target for the company. Wedbush decreased their target price on TCR2 Therapeutics from $57.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, May 14th. SVB Leerink decreased their target price on TCR2 Therapeutics from $41.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, March 11th. BMO Capital Markets decreased their target price on TCR2 Therapeutics from $65.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, March 11th. Finally, Piper Sandler increased their target price on TCR2 Therapeutics from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, March 11th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $42.00.

Shares of TCRR stock opened at $17.85 on Friday. The stock has a 50 day moving average price of $20.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 32.60 and a quick ratio of 32.60. TCR2 Therapeutics has a 12 month low of $12.95 and a 12 month high of $35.86. The company has a market cap of $681.19 million, a P/E ratio of -7.56 and a beta of 2.06.

TCR2 Therapeutics (NASDAQ:TCRR) last announced its quarterly earnings data on Thursday, May 13th. The company reported ($0.58) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.53) by ($0.05). On average, equities analysts expect that TCR2 Therapeutics will post -2.56 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of TCRR. International Assets Investment Management LLC acquired a new position in shares of TCR2 Therapeutics in the 1st quarter worth approximately $25,000. Point72 Hong Kong Ltd acquired a new position in shares of TCR2 Therapeutics in the 1st quarter worth approximately $42,000. Pacer Advisors Inc. raised its holdings in shares of TCR2 Therapeutics by 150.2% in the 1st quarter. Pacer Advisors Inc. now owns 2,705 shares of the company’s stock worth $60,000 after buying an additional 1,624 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of TCR2 Therapeutics in the 1st quarter worth approximately $95,000. Finally, E Fund Management Co. Ltd. acquired a new position in shares of TCR2 Therapeutics in the 1st quarter worth approximately $106,000. 98.65% of the stock is owned by institutional investors and hedge funds.

TCR2 Therapeutics Company Profile

TCR2 Therapeutics Inc, a clinical-stage immunotherapy company, develops novel T cell receptor therapies for patients suffering from cancer. The company's lead product candidates include gavo-cel, a mono TCR Fusion Construct T cells (TRuC-T cells) targeting mesothelin positive solid tumors, which is in phase I/II clinical trial for the treatment of non-small cell lung cancer (NSCLC), ovarian cancer, malignant pleural/peritoneal mesothelioma, and cholangiocarcinoma; and TC-110 a TRuC-T cell targeting CD19-positive B-Cell hematological malignancies, including adult acute lymphoblastic leukemia, DLBCL, follicular lymphoma, and other non-hodgkin lymphomas that is in phase I/II clinical trial.

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