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

TCR2 Therapeutics Inc. (NASDAQ:TCRR) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 5,849 put options on the stock. This represents an increase of approximately 1,646% compared to the typical daily volume of 335 put options.

Several institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC lifted its holdings in shares of TCR2 Therapeutics by 1.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 56,990 shares of the company’s stock worth $935,000 after acquiring an additional 790 shares during the last quarter. Morgan Stanley increased its stake in TCR2 Therapeutics by 10,331.7% in the 2nd quarter. Morgan Stanley now owns 156,580 shares of the company’s stock worth $2,570,000 after buying an additional 155,079 shares during the period. Wells Fargo & Company MN increased its stake in TCR2 Therapeutics by 7.4% in the 2nd quarter. Wells Fargo & Company MN now owns 65,645 shares of the company’s stock worth $1,077,000 after buying an additional 4,524 shares during the period. Walleye Capital LLC purchased a new position in TCR2 Therapeutics in the 2nd quarter worth about $270,000. Finally, Invesco Ltd. purchased a new position in TCR2 Therapeutics in the 2nd quarter worth about $201,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Several research analysts have recently issued reports on the stock. BMO Capital Markets dropped their target price on shares of TCR2 Therapeutics from $53.00 to $44.00 and set an “outperform” rating on the stock in a research note on Friday, August 6th. Roth Capital reissued a “buy” rating on shares of TCR2 Therapeutics in a report on Thursday, August 5th. SVB Leerink decreased their price objective on shares of TCR2 Therapeutics from $34.00 to $31.00 and set an “outperform” rating for the company in a report on Friday, August 6th. The Goldman Sachs Group assumed coverage on shares of TCR2 Therapeutics in a report on Thursday, June 24th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Zacks Investment Research raised shares of TCR2 Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, July 20th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, TCR2 Therapeutics presently has an average rating of “Buy” and an average target price of $39.00.

Shares of TCR2 Therapeutics stock traded up $0.56 during trading on Wednesday, hitting $17.20. The stock had a trading volume of 11,829 shares, compared to its average volume of 422,465. The firm’s fifty day simple moving average is $15.01 and its 200-day simple moving average is $18.97. The stock has a market cap of $656.97 million, a PE ratio of -7.42 and a beta of 2.10. TCR2 Therapeutics has a 12 month low of $12.15 and a 12 month high of $35.86.

TCR2 Therapeutics (NASDAQ:TCRR) last released its earnings results on Thursday, August 5th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.04). Analysts forecast that TCR2 Therapeutics will post -2.61 earnings per share for the current year.

TCR2 Therapeutics Company Profile

TCR2 Therapeutics, Inc is a clinical-stage cell therapy company, which engages in the development of biological drugs and engineering T-cells for cancer therapy. It also involves in the research and collaboration with academic laboratories and industry partners in the field of T-cell immunology, cell therapy, gene editing, and process development.

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