Lynx1 Capital Management LP, a significant shareholder in TScan Therapeutics, Inc. (NASDAQ:TCRX), recently increased its stake in the company. According to a Form 4 filing with the Securities and Exchange Commission, Lynx1 Capital acquired a total of 131,800 shares over two consecutive days. The biotech company, currently valued at $161 million, shows potential upside according to InvestingPro Fair Value metrics.
The transactions, completed on December 12 and 13, were executed at weighted average prices ranging from $2.9014 to $3.0072 per share. The total purchase amounted to approximately $385,768. Following these acquisitions, Lynx1 Capital now holds 5,357,347 shares of TScan Therapeutics. Notably, analysts maintain a strong buy consensus with price targets ranging from $7 to $15 per share.
The acquisition was made indirectly through Lynx1 Master Fund LP, with Lynx1 Capital Management LP serving as the investment manager. Weston Nichols, the sole member of Lynx1 Capital Management GP LLC, the general partner of the investment manager, signed the filing. Nichols and the investment manager disclaim beneficial ownership of the securities except to the extent of their pecuniary interest. For deeper insights into insider trading patterns and comprehensive analysis, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, TScan Therapeutics, a biotech firm, has made a significant financial move by converting $15 million of its debt into equity. This strategic decision was revealed in the company's latest SEC filing, demonstrating a noteworthy development. The firm issued over three million shares of common stock to a lender, a move stemming from a loan agreement dated September 9, 2022.
The initial convertible term loan was $30 million, with the lender exercising the option to convert half of this principal amount into voting common stock. This conversion was completed on November 20, 2024, and was executed at a price of $4.785 per share. This action has allowed TScan to reduce its debt burden by converting a portion into company shares, an operation known as issuing Conversion Shares.
These shares were transacted in accordance with Section 3(a)(9) of the Securities Act of 1933, highlighting the company's compliance with regulatory requirements. This recent development underscores TScan's strategic financial management and commitment to maintaining its financial health.
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