Lynx1 Capital Management LP, a significant shareholder of TScan Therapeutics, Inc. (NASDAQ:TCRX), recently acquired additional shares of the biotech company. According to a filing with the Securities and Exchange Commission, Lynx1 Capital purchased 947 shares of TScan Therapeutics on November 15, 2024. The shares were bought at a weighted average price of $4.3442, with the total transaction valued at approximately $4,113.
The shares were acquired in multiple transactions at prices ranging from $4.335 to $4.350. After this transaction, Lynx1 Capital holds a total of 5,225,547 shares of TScan Therapeutics.
The filing also notes that the securities are held directly by Lynx1 Master Fund LP, with Lynx1 Capital Management LP acting as the investment manager. Weston Nichols, the sole member of Lynx1 Capital Management GP LLC, which is the general partner of the investment manager, signed the filing. Both Lynx1 Capital Management LP and Mr. Nichols have disclaimed beneficial ownership of the securities except to the extent of their pecuniary interest.
InvestingPro Insights
TScan Therapeutics, Inc. (NASDAQ:TCRX) presents an intriguing investment case, particularly in light of Lynx1 Capital Management's recent share acquisition. According to InvestingPro data, the company's market capitalization stands at $224.16 million, with a price-to-book ratio of 0.98 as of the last twelve months ending Q3 2024. This near-book value pricing could suggest that the stock is potentially undervalued, aligning with Lynx1's decision to increase its stake.
However, investors should note that TScan's financials show some challenges. The company reported a revenue of $9.36 million in the last twelve months ending Q3 2024, with a significant revenue decline of 44.71% over the same period. This downturn in revenue is reflected in the company's negative gross profit and operating income margins.
An InvestingPro Tip highlights that TScan Therapeutics is not profitable, which is evident from its negative P/E ratio of -2.02. This is not uncommon for biotech companies in their early stages, as they often prioritize research and development over immediate profitability. Another InvestingPro Tip suggests that analysts have recently revised their earnings expectations for the company upwards, which could indicate positive developments in TScan's pipeline or market prospects.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for TScan Therapeutics, providing a deeper understanding of the company's financial health and market position.
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