Needham Reiterates Buy Rating on TCRX, Targets $6
Needham maintains its optimistic view on TCRX, setting a $6 price target, a 581.04% upside from the current price.
Key Points
- Needham reiterated its buy rating for TCRX on June 23, 2026, with a price target of $6.
- Needham's $6 price target implies 581.04% upside from TScan Therapeutics, Inc.'s ($TCRX) current $0.88 share price.
- Shares of TCRX traded around $0.86 on Tuesday, reflecting ongoing market interest.
- Recent insider buying activity includes multiple 67,000-share purchases by various insiders in May 2026.
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Needham has reiterated its buy rating for TCRX, setting a price target of $6. This update was announced on June 23, 2026, with analyst Gil Blum maintaining an optimistic outlook on the stock. On Tuesday, TCRX shares traded around $0.86.
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Other Institutional Activity in TCRX
Several institutional investors have shown interest in TCRX. LYNX1 Capital Management LP held steady with 8,019,148 shares valued at approximately $8.1 million. BVF Inc/IL increased its holdings by 338,216 shares, now holding 5,564,290 shares worth about $5.6 million, marking a 6.5% increase. Vanguard Capital Management LLC opened a new position with 2,154,256 shares, valued at roughly $2.2 million. Meanwhile, Millennium Management LLC significantly increased its stake by 1,056,667 shares, owning a total of 1,460,285 shares valued at around $1.5 million, reflecting a 261.8% increase.
Insider Buying and Selling at TScan Therapeutics, Inc.
On May 20, 2026, several insiders, including Barbara Klencke, Gabriela Gruia, Keith Woods, Katina Dorton, and Garry Nicholson, each purchased 67,000 shares of TCRX. These transactions were not part of a Rule 10b5-1 plan, indicating personal confidence in the company's future prospects.
Analysts Set New Price Targets
On June 23, 2026, Needham reiterated its buy rating for TCRX with a price target of $6. Earlier in the year, on March 5, 2026, Wedbush maintained its buy rating with a $5 target. Other recent targets include HC Wainwright & Co.'s $7 target on November 13, 2025, and Morgan Stanley's $10 target on March 14, 2025.
Bottom Line
Needham's reiterated buy rating and $6 price target for TCRX reflect continued confidence in the stock's potential. Investors keep a close watch on such ratings for insights into future performance. Remember, these analyst updates represent opinions as of their report dates and may not reflect current conditions.
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