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Tscan Therapeutics Inc (TCRX) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Tscan Therapeutics Inc stock $0.20, price $0.19, upside +9.8%, quality 34 out of 100. Rating: fairly valued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Healthcare US

TT Tscan Therapeutics Inc logo Thin data Nov 10, 2026

Tscan Therapeutics Inc

TCRX · US
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Low debt
Fair value $0.2034 · Fairly valued
Revenue last quarter 66% below a year ago.
Quality 34/100
Weak Growth (revenue 3y −8.6 %/yr in USD)
Negative free cash flow
Trails peers (3/8)
Narrow moat 5/100 · thin data
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$13.48 $0.1750 Fair Value $0.2034 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range $0.1750 – $13.48 · fair‑value band $0.1526 – $0.2543 · the $0.1852 price screens below the $0.2034 fair value. As of Nov 10, 2026.

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Company profile

TScan Therapeutics, Inc., a clinical-stage biotechnology company, develops T cell receptor-engineered T cell (TCR-T) therapies for the treatment of patients with cancer in the United States.

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The company's lead product is TSC-101, for the treatment of patients with acute myeloid leukemia (AML), myelodysplastic syndrome (MDS), and acute lymphoblastic leukemia (ALL) in patients undergoing allogeneic hematopoietic cell transplantation (HCT), which is in Phase I clinical trial, as well as eliminates residual disease and promotes donor chimerism.

It also develops TSC-102-A01 and TSC-102-A03, which are allogeneic and donor-derived TCR-T therapy candidates targeting epitopes. In addition, the company develops TSC-200, TSC-201, TSC-202, TSC-203, and TSC-204 for the treatment of solid tumors.

It has a research collaboration and license agreement with Amgen Inc. to identify antigens recognized by T cells in patients with Crohn's disease. TScan Therapeutics, Inc. was incorporated in 2018 and is headquartered in Waltham, Massachusetts.

Stock analysis

Tscan Therapeutics Inc (TCRX) currently trades at $0.1852, while our estimate is $0.2034, so the stock looks roughly fairly valued today (gap 8.9%).

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $0.1526 (bear) to $0.2543 (bull), the price of $0.1852 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 34/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Tscan Therapeutics Inc reported revenue of $10.3M in FY2025 versus $10.1M in FY2021, a compound +0.5%/yr. Reported net income was −$130M in FY2025.

Key figures

Market cap $24.1M Micro · P/S ratio 2.20 · EPS (TTM) $−0.9100 · Return on equity −95.8% · Return on assets (EBIT) −37.9% (5-year average) · Operating margin −2,901% · Revenue (TTM) $7.1M · Revenue growth (YoY) −65.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 5 out of 100 (low confidence).

What moves the price

The share trades about 87% below its 52-week high and 6% above its 52-week low.

For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at 10%, TCRX screens cheaper than that median.

Fair Value

Bear $0.1526 Fair Value $0.2034 Bull $0.2543
Price $0.1852 · Upside +9.8%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 34/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 1
How much profit the company makes from its sales and capital
Quality Growth 54
Are margins and returns getting better?
Cashflow 12
Do the profits arrive as real cash?
Financial strength 67
Debt, balance sheet and risk of trouble
Investment 47
Does it invest with discipline instead of growing at any price?
Low Volatility 25
How calm the share price moves, does not count
Price momentum 0
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 40
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, no officer or director bought or sold shares on the open market.

  • BuyLynx1 Capital Management LP10% owner161,801 shares at $0.9000$145,621Dec 23, 2025

Plus 2 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 10, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 28/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−8.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+56.9%
Start year 2020 (pandemic)
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−2,417.8% (2020) → −1,315.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Compare Tscan Therapeutics Inc with another stock

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 849 stocks

Beats the industry median on 3/7 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 34 · Below median
Fair Value upside +9.8% · Top 25%
Profitability
Return on assets −56.7% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −65.8% · Bottom 25%
Balance sheet
Debt / equity 0.26× · Above median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 0.20× · Cheapest 25%
P/S (12 months) 3.38× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)46 · sector 0
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)87 · sector 96
DIVIDEND (yield)0 · sector 20

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Regeneron Pharmaceuticals, Inc REGN $916.06 $1,275 +39% vs TCRX
Samsung Biologics Co 207940 1,468,000 KRW 1,661,000 KRW +13% vs TCRX
Vertex Pharmaceuticals Incorporated VRTX $547.89 $601.80 +10% vs TCRX
Genmab A/S GMAB kr 3,581 kr 3,880 +8% vs TCRX
argenx SE ARGX $971.55 $908.40 −7% vs TCRX
CSL Limited CSL A$201.68 A$181.40 −10% vs TCRX
Moderna, Inc MRNA $250.83 $158.70 −37% vs TCRX
BeOne Medicines AG 6160 HK$252.20 HK$152.80 −39% vs TCRX
Celltrion, Inc 068270 203,000 KRW 74,945 KRW −63% vs TCRX
Royalty Pharma plc RPRX $69.45 $19.01 −73% vs TCRX

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Tscan Therapeutics Inc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Tscan Therapeutics Inc Fair Value". https://www.fairvalue-calculator.com/stock/TCRX

Frequently asked questions

Is Tscan Therapeutics Inc (TCRX) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is $0.2034 versus a price of $0.1852, about +10% upside (fairly valued).
What is the fair value of TCRX?
Our estimate for Tscan Therapeutics Inc is $0.2034 (as of Nov 10, 2026), built from audited fundamentals. The current price: $0.1852.
What is the quality score of TCRX?
Tscan Therapeutics Inc has a Quality Score of 34/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Tscan Therapeutics Inc (TCRX)?
Our calculated price target is the estimate of $0.2034 (as of Nov 10, 2026). Cautious scenario $0.1526, optimistic scenario $0.2543. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Tscan Therapeutics Inc stock forecast for 2026?
Our estimate puts fair value at $0.2034, about +10% upside versus a price of $0.1852 (fairly valued). Cautious scenario $0.1526, optimistic scenario $0.2543. The calculation is refreshed regularly with new filings.
What is the revenue of Tscan Therapeutics Inc (TCRX)?
Tscan Therapeutics Inc reported trailing-twelve-month revenue of about $7.1M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Tscan Therapeutics Inc (TCRX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tscan Therapeutics Inc it is $0.2034 per share (as of Nov 10, 2026), against a price of $0.1852.
Is Tscan Therapeutics Inc stock overvalued or undervalued in 2026?
As of Nov 10, 2026, TCRX trades below its calculated fair value: price $0.1852, fair value $0.2034, a gap of about +10% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TCRX?
No. The price is what the market pays today ($0.1852); the fair value is what the company's own numbers justify ($0.2034). For Tscan Therapeutics Inc the two are $0.0182 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tscan Therapeutics Inc worth?
The market values Tscan Therapeutics Inc at about $24.1M (market capitalisation, as of Nov 10, 2026). Per share that is $0.1852; our models calculate a fair value of $0.2034 per share.
What do the bullish and bearish scenarios say about TCRX?
Our models span a range for Tscan Therapeutics Inc: cautious scenario $0.1526, base $0.2034, optimistic $0.2543 per share (as of Nov 10, 2026, price $0.1852). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Tscan Therapeutics Inc (TCRX)?
Balance-sheet figures for Tscan Therapeutics Inc (as of Nov 10, 2026): return on equity −95.8%, debt of 0.26 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is TCRX from its 52-week high?
Tscan Therapeutics Inc trades at $0.1852, about 87% below its 52-week high of $1.43 and 6% above the low of $0.1750 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of $0.2034 is for.
Which stocks are comparable to Tscan Therapeutics Inc?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Moderna, Inc, Regeneron Pharmaceuticals, Inc, CSL Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Tscan Therapeutics Inc stock attractive at the current price?
The data as of Nov 10, 2026: price $0.1852, calculated fair value $0.2034 (+10%), Quality Score 34/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Tscan Therapeutics Inc currently trades 9% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Tscan Therapeutics Inc (TCRX)?
The closing price on Nov 10, 2026 was $0.1852. Our estimate is $0.2034, about +10% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tscan Therapeutics Inc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Tscan Therapeutics Inc

How large is the market capitalisation of Tscan Therapeutics Inc (TCRX)?
The market capitalisation of Tscan Therapeutics Inc is $24.1M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Tscan Therapeutics Inc (TCRX)?
The price-to-sales ratio of Tscan Therapeutics Inc is 2.20 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Tscan Therapeutics Inc (TCRX)?
Earnings per share at Tscan Therapeutics Inc are $−0.9100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Tscan Therapeutics Inc (TCRX)?
The return on equity (ROE) of Tscan Therapeutics Inc is −95.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Tscan Therapeutics Inc (TCRX)?
On an EBIT basis the return on assets of Tscan Therapeutics Inc is −37.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Tscan Therapeutics Inc (TCRX)?
The operating margin of Tscan Therapeutics Inc is −2,901% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tscan Therapeutics Inc (TCRX)?
Revenue at Tscan Therapeutics Inc is growing −65.8% versus a year earlier (3y avg −8.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Tscan Therapeutics Inc (TCRX) generate?
The free cash flow of Tscan Therapeutics Inc is −$140M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Tscan Therapeutics Inc (TCRX) hold?
Tscan Therapeutics Inc holds more cash than debt, $58.3M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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