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

TCR2 Therapeutics Inc. (NASDAQ:TCRR) was the target of some unusual options trading activity on Thursday. Stock traders bought 739 put options on the stock. This represents an increase of 1,003% compared to the average volume of 67 put options.

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of TCR2 Therapeutics during the 1st quarter valued at about $25,000. Point72 Hong Kong Ltd acquired a new position in TCR2 Therapeutics during the first quarter valued at approximately $42,000. Pacer Advisors Inc. boosted its holdings in shares of TCR2 Therapeutics by 150.2% during 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in TCR2 Therapeutics during the 1st quarter worth $95,000. Finally, E Fund Management Co. Ltd. bought a new stake in TCR2 Therapeutics during the 1st quarter valued at approximately $106,000. 98.65% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:TCRR opened at $17.85 on Friday. The business’s 50-day moving average price is $20.97. The firm has a market capitalization of $681.19 million, a price-to-earnings 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 52-week low of $12.95 and a 52-week high of $35.86.

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

Several brokerages recently weighed in on TCRR. Wedbush cut their target price on shares of 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 dropped their price objective on TCR2 Therapeutics from $41.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, March 11th. Mizuho began coverage on shares of TCR2 Therapeutics in a report on Thursday, May 13th. They issued a “buy” rating and a $51.00 price target on the stock. BMO Capital Markets lowered their price target on TCR2 Therapeutics from $65.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, March 11th. Finally, Piper Sandler upped their price target on TCR2 Therapeutics from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 11th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $42.00.

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.

Featured Story: What is the Gross Domestic Product (GDP)?

Receive News & Ratings for TCR2 Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TCR2 Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.