TCR2 Therapeutics (NASDAQ:TCRR) Price Target Cut to $29.00 by Analysts at Truist Securities

TCR2 Therapeutics (NASDAQ:TCRR) had its target price lowered by Truist Securities from $40.00 to $29.00 in a report released on Monday morning, PriceTargets.com reports. Truist Securities currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Wedbush lowered shares of TCR2 Therapeutics from an outperform rating to a neutral rating and decreased their price target for the stock from $45.00 to $11.00 in a research note on Friday. Zacks Investment Research upgraded shares of TCR2 Therapeutics from a sell rating to a hold rating in a research note on Tuesday, July 20th. BMO Capital Markets decreased their price target on shares of TCR2 Therapeutics from $53.00 to $44.00 and set an outperform rating for the company in a research note on Friday, August 6th. Roth Capital restated a buy rating on shares of TCR2 Therapeutics in a research note on Thursday, August 5th. Finally, The Goldman Sachs Group assumed coverage on shares of TCR2 Therapeutics in a research note on Thursday, June 24th. They set a buy rating and a $30.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $33.00.

NASDAQ:TCRR opened at $9.36 on Monday. The firm has a market cap of $357.51 million, a price-to-earnings ratio of -4.26 and a beta of 2.10. TCR2 Therapeutics has a 52 week low of $9.30 and a 52 week high of $35.86. The firm has a 50-day moving average price of $14.95 and a two-hundred day moving average price of $18.70.

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

Large investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new stake in shares of TCR2 Therapeutics during the 1st quarter valued at $42,000. FORA Capital LLC raised its position in shares of TCR2 Therapeutics by 255.8% during the 2nd quarter. FORA Capital LLC now owns 2,608 shares of the company’s stock valued at $43,000 after buying an additional 1,875 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of TCR2 Therapeutics during the 1st quarter valued at $95,000. E Fund Management Co. Ltd. purchased a new stake in shares of TCR2 Therapeutics during the 1st quarter valued at $106,000. Finally, Royal Bank of Canada raised its position in shares of TCR2 Therapeutics by 944.3% during the 1st quarter. Royal Bank of Canada now owns 7,383 shares of the company’s stock valued at $164,000 after buying an additional 6,676 shares in the last quarter. 91.77% of the stock is owned by hedge funds and other institutional investors.

About TCR2 Therapeutics

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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Analyst Recommendations for TCR2 Therapeutics (NASDAQ:TCRR)

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