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TScan Therapeutics, Inc. (TCRX) Stock Jumps 18.1%: Will It Continue to Soar?
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TScan Therapeutics, Inc. (TCRX - Free Report) shares ended the last trading session 18.1% higher at $6.78. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.1% gain over the past four weeks.
The stock rallied as optimism about the drug/biotech sector’s growth in 2024 rose.
This company is expected to post quarterly loss of $0.30 per share in its upcoming report, which represents a year-over-year change of +61.5%. Revenues are expected to be $2.94 million, down 5.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For TScan Therapeutics, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TCRX going forward to see if this recent jump can turn into more strength down the road.
TScan Therapeutics, Inc. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Puma Biotech (PBYI - Free Report) , closed the last trading session 1.7% higher at $7.11. Over the past month, PBYI has returned 36.5%.
For Puma Biotech, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.37. This represents a change of +408.3% from what the company reported a year ago. Puma Biotech currently has a Zacks Rank of #1 (Strong Buy).
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TScan Therapeutics, Inc. (TCRX) Stock Jumps 18.1%: Will It Continue to Soar?
TScan Therapeutics, Inc. (TCRX - Free Report) shares ended the last trading session 18.1% higher at $6.78. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.1% gain over the past four weeks.
The stock rallied as optimism about the drug/biotech sector’s growth in 2024 rose.
This company is expected to post quarterly loss of $0.30 per share in its upcoming report, which represents a year-over-year change of +61.5%. Revenues are expected to be $2.94 million, down 5.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For TScan Therapeutics, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TCRX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
TScan Therapeutics, Inc. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Puma Biotech (PBYI - Free Report) , closed the last trading session 1.7% higher at $7.11. Over the past month, PBYI has returned 36.5%.
For Puma Biotech, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.37. This represents a change of +408.3% from what the company reported a year ago. Puma Biotech currently has a Zacks Rank of #1 (Strong Buy).