ROTH Capital lifts TCR2 Therapeutics Inc. [TCRR] price estimate. Who else is bullish?

TCR2 Therapeutics Inc. [NASDAQ: TCRR] surged by $1.7 during the normal trading session on Wednesday and reaching a high of $18.33 during the day while it closed the day at $17.98. The company report on July 29, 2020 that TCR² Therapeutics Announces Pricing of Public Offering of Common Stock.

TCR2 Therapeutics Inc. (Nasdaq: TCRR) (“TCR2” or the “Company”), a clinical-stage immunotherapy company with a pipeline of novel T cell therapies for patients suffering from cancer, today announced the pricing of an underwritten public offering of 8,000,000 shares of its common stock at a public offering price of $15.50 per share. TCR2 also granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock at the public offering price, less the underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses payable by the Company, are expected to be $124.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. All of the shares in the offering are to be sold by TCR2. The offering is expected to close on or about July 31, 2020, subject to customary closing conditions.

Jefferies, SVB Leerink, Piper Sandler and BMO Capital Markets are acting as joint book-running managers for the offering. SunTrust Robinson Humphrey is acting as co-manager for the offering.

TCR2 Therapeutics Inc. stock has also gained 25.03% of its value over the past 7 days. However, TCRR stock has inclined by 58.14% in the 3 months of the year. Over the past six months meanwhile, it has gained 19.23% and gained 25.91% year-on date.

The market cap for TCRR stock reached $451.48 million, with 24.01 million shares outstanding and 19.14 million shares in the current float. Compared to the average trading volume of 213.31K shares, TCRR reached a trading volume of 2797513 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about TCR2 Therapeutics Inc. [TCRR]:

ROTH Capital have made an estimate for TCR2 Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 27, 2020. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on November 04, 2019, representing the official price target for TCR2 Therapeutics Inc. stock.

The Average True Range (ATR) for TCR2 Therapeutics Inc. is set at 1.55 The Price to Book ratio for the last quarter was 2.95, with the Price to Cash per share for the same quarter was set at 5.02.

TCRR stock trade performance evaluation

TCR2 Therapeutics Inc. [TCRR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 25.03. With this latest performance, TCRR shares gained by 15.33% in over the last four-week period, additionally plugging by 19.23% over the last 6 months – not to mention a rise of 14.23% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TCRR stock in for the last two-week period is set at 63.69, with the RSI for the last a single of trading hit 66.75, and the three-weeks RSI is set at 60.71 for TCR2 Therapeutics Inc. [TCRR]. The present Moving Average for the last 50 days of trading for this stock 14.34, while it was recorded at 15.48 for the last single week of trading, and 13.24 for the last 200 days.

TCR2 Therapeutics Inc. [TCRR]: An insightful look at the core fundamentals

Return on Total Capital for TCRR is now -36.19, given the latest momentum, and Return on Invested Capital for the company is -33.52. Return on Equity for this stock declined to -33.52, with Return on Assets sitting at -31.95.

Reflecting on the efficiency of the workforce at the company, TCR2 Therapeutics Inc. [TCRR] managed to generate an average of -$573,482 per employee.TCR2 Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 21.70 and a Current Ratio set at 21.70.

Earnings per share (EPS) analysis for TCR2 Therapeutics Inc. [TCRR] stock

With the latest financial reports released by the company, TCR2 Therapeutics Inc. posted -0.46/share EPS, while the average EPS was predicted by analysts to be reported at -0.57/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 19.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TCRR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for TCR2 Therapeutics Inc. go to 0.00%.

TCR2 Therapeutics Inc. [TCRR]: Insider Ownership positions

There are presently around $256 million, or 85.80% of TCRR stock, in the hands of institutional investors. The top three institutional holders of TCRR stocks are: MPM ASSET MANAGEMENT LLC with ownership of 4,050,865, which is approximately 0% of the company’s market cap and around 5.58% of the total institutional ownership; MPM ONCOLOGY IMPACT MANAGEMENT LP, holding 3,370,982 shares of the stock with an approximate value of $60.61 million in TCRR stocks shares; and REDMILE GROUP, LLC, currently with $31.78 million in TCRR stock with ownership of nearly -1.773% of the company’s market capitalization.

Positions in TCR2 Therapeutics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 28 institutional holders increased their position in TCR2 Therapeutics Inc. [NASDAQ:TCRR] by around 424,125 shares. Additionally, 16 investors decreased positions by around 327,420 shares, while 10 investors held positions by with 13,511,896 shares. The mentioned changes placed institutional holdings at 14,263,441 shares, according to the latest SEC report filing. TCRR stock had 9 new institutional investments in for a total of 238,751 shares, while 3 institutional investors sold positions of 254,923 shares during the same period.

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