Tcr2 Therapeutics (NASDAQ:TCRR) Downgraded to Hold at Zacks Investment Research

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Zacks Investment Research cut shares of Tcr2 Therapeutics (NASDAQ:TCRR) from a buy rating to a hold rating in a research report sent to investors on Thursday, Zacks.com reports.

According to Zacks, “TCR2 Therapeutics Inc. is a clinical-stage immunotherapy company developing T cell therapies for patients suffering from cancer. Its product candidate includes TC-210, TC-220, TC-410, TC-110 and TC-310 which are in clinical stage. TCR2 Therapeutics Inc. is based in Cambridge, Massachusetts. “

TCRR has been the subject of a number of other research reports. HC Wainwright restated a buy rating and set a $19.00 target price on shares of Tcr2 Therapeutics in a research report on Wednesday, December 11th. ValuEngine upgraded shares of Tcr2 Therapeutics from a hold rating to a buy rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Tcr2 Therapeutics presently has an average rating of Buy and an average target price of $25.00.

TCRR traded down $0.72 during midday trading on Thursday, reaching $13.96. 42,147 shares of the company’s stock were exchanged, compared to its average volume of 77,136. The stock has a market capitalization of $353.24 million and a PE ratio of -0.63. The business’s 50-day moving average price is $14.64 and its 200 day moving average price is $15.68. Tcr2 Therapeutics has a 1-year low of $10.04 and a 1-year high of $25.47.

In other news, major shareholder Morana Jovan-Embiricos sold 2,891 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $17.01, for a total value of $49,175.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 150,623 shares of company stock valued at $2,656,646. 39.07% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of TCRR. EcoR1 Capital LLC acquired a new position in shares of Tcr2 Therapeutics in the fourth quarter valued at approximately $3,420,000. State Street Corp increased its position in Tcr2 Therapeutics by 1,033.6% during the third quarter. State Street Corp now owns 166,634 shares of the company’s stock worth $2,505,000 after purchasing an additional 151,934 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its position in Tcr2 Therapeutics by 12.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,269,766 shares of the company’s stock worth $18,132,000 after purchasing an additional 143,459 shares during the last quarter. BlackRock Inc. acquired a new position in Tcr2 Therapeutics during the second quarter worth approximately $1,511,000. Finally, Vanguard Group Inc. acquired a new position in Tcr2 Therapeutics during the second quarter worth approximately $1,070,000. 42.74% of the stock is owned by institutional investors and hedge funds.

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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