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

TCR2 Therapeutics Inc. (NASDAQ:TCRR) was the recipient of some unusual options trading on Thursday. Stock traders purchased 739 put options on the stock. This is an increase of approximately 1,003% compared to the typical daily volume of 67 put options.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new position in TCR2 Therapeutics during the fourth quarter worth approximately $623,000. GSA Capital Partners LLP boosted its holdings in shares of TCR2 Therapeutics by 47.7% during the first quarter. GSA Capital Partners LLP now owns 10,025 shares of the company’s stock worth $221,000 after acquiring an additional 3,237 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of TCR2 Therapeutics by 46.2% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,699 shares of the company’s stock worth $280,000 after acquiring an additional 4,011 shares during the period. Rhumbline Advisers boosted its holdings in shares of TCR2 Therapeutics by 21.1% during the fourth quarter. Rhumbline Advisers now owns 36,884 shares of the company’s stock worth $1,141,000 after acquiring an additional 6,433 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of TCR2 Therapeutics by 6.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 15,605 shares of the company’s stock worth $483,000 after acquiring an additional 1,002 shares during the period. 98.65% of the stock is currently owned by hedge funds and other institutional investors.

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

TCR2 Therapeutics (NASDAQ:TCRR) last announced its quarterly earnings results on Thursday, May 13th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.05). Equities analysts forecast that TCR2 Therapeutics will post -2.56 EPS for the current fiscal year.

About TCR2 Therapeutics

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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