Jefferies Financial Group Lowers TCR2 Therapeutics (NASDAQ:TCRR) to Hold

TCR2 Therapeutics (NASDAQ:TCRR – Get Rating) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, The Fly reports. They presently have a $3.00 target price on the stock, down from their previous target price of $18.00. Jefferies Financial Group’s price objective would indicate a potential upside of 109.79% from the stock’s current price.

A number of other brokerages have also issued reports on TCRR. EF Hutton Acquisition Co. I assumed coverage on shares of TCR2 Therapeutics in a research report on Thursday, January 5th. They set a “hold” rating and a $2.00 target price on the stock. Piper Sandler raised their target price on shares of TCR2 Therapeutics from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Thursday, January 5th. Truist Financial lowered shares of TCR2 Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the stock from $8.00 to $3.00 in a research report on Tuesday. Finally, HC Wainwright lowered shares of TCR2 Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.20.

TCR2 Therapeutics Price Performance

TCRR stock opened at $1.43 on Thursday. TCR2 Therapeutics has a 12 month low of $0.82 and a 12 month high of $3.88. The company’s 50 day simple moving average is $1.30 and its 200-day simple moving average is $1.54. The firm has a market capitalization of $55.28 million, a PE ratio of -0.46 and a beta of 1.90.

Hedge Funds Weigh In On TCR2 Therapeutics

A number of hedge funds have recently made changes to their positions in TCRR. Private Advisor Group LLC raised its stake in shares of TCR2 Therapeutics by 205.1% in the 1st quarter. Private Advisor Group LLC now owns 33,631 shares of the company’s stock valued at $93,000 after acquiring an additional 22,608 shares during the period. BlackRock Inc. raised its stake in shares of TCR2 Therapeutics by 5.5% in the 1st quarter. BlackRock Inc. now owns 2,532,916 shares of the company’s stock valued at $6,991,000 after acquiring an additional 131,171 shares during the period. Federated Hermes Inc. raised its stake in shares of TCR2 Therapeutics by 166.7% in the 1st quarter. Federated Hermes Inc. now owns 15,707 shares of the company’s stock valued at $43,000 after acquiring an additional 9,818 shares during the period. Prudential Financial Inc. raised its stake in shares of TCR2 Therapeutics by 622.1% in the 1st quarter. Prudential Financial Inc. now owns 288,095 shares of the company’s stock valued at $795,000 after acquiring an additional 248,200 shares during the period. Finally, XTX Topco Ltd raised its stake in shares of TCR2 Therapeutics by 137.3% in the 1st quarter. XTX Topco Ltd now owns 46,759 shares of the company’s stock valued at $129,000 after acquiring an additional 27,051 shares during the period. Hedge funds and other institutional investors own 64.76% of the company’s stock.

About TCR2 Therapeutics

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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 is also involved 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.