Hedge Funds Investors in TScan Therapeutics, Inc. (NASDAQ:TCRX) See US$52m Decrease in Market Cap Last Week, Although Long-term Gains Have Benefitted Them.
Hedge Funds Investors in TScan Therapeutics, Inc. (NASDAQ:TCRX) See US$52m Decrease in Market Cap Last Week, Although Long-term Gains Have Benefitted Them.
Key Insights
主要見解
- Given the large stake in the stock by institutions, TScan Therapeutics' stock price might be vulnerable to their trading decisions
- A total of 6 investors have a majority stake in the company with 50% ownership
- Analyst forecasts along with ownership data serve to give a strong idea about prospects for a business
- 考慮到機構股東所持有的大量股份,TScan Therapeutics的股價可能會受到他們的交易決策的影響。
- 共有6名投資者擁有該公司的多數股權,擁有50%的所有權。
- 分析師預測以及所有者數據可以給我們提供有關業務前景的強烈想法。
To get a sense of who is truly in control of TScan Therapeutics, Inc. (NASDAQ:TCRX), it is important to understand the ownership structure of the business. We can see that hedge funds own the lion's share in the company with 46% ownership. Put another way, the group faces the maximum upside potential (or downside risk).
爲了了解TScan Therapeutics, Inc. (NASDAQ:TCRX)真正的掌控者,理解業務的所有權結構非常重要。我們可以看到,對於該公司46%的所有權被對沖基金所持有,也就是說,該群體面臨着最大的上行潛力(或下行風險)。
Losing money on investments is something no shareholder enjoys, least of all hedge funds investors who saw their holdings value drop by 14% last week. However, the 146% one-year return to shareholders may have helped lessen their pain. We would assume however, that they would be on the lookout for weakness in the future.
任何股東都不希望在投資上虧錢,尤其是對沖基金的投資者們,他們上週看到自己的持股價值下跌了14%,這使得他們痛苦萬分。不過,一年146%的股東回報率可能有所緩解。但是我們認爲,他們肯定會對未來的形勢保持警惕。
In the chart below, we zoom in on the different ownership groups of TScan Therapeutics.
下圖展示了TScan Therapeutics不同所有權組的所有權情況。
![ownership-breakdown](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240628/0-46d6bf0282374d580d52392fd54bd53a-0-69926e334b2b954cbfe297bbda3b18d6.png/big)
What Does The Institutional Ownership Tell Us About TScan Therapeutics?
機構股東持股信息對於TScan Therapeutics有何啓示?
Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.
機構通常在向自己的投資者報告時會針對一個基準進行衡量,因此一旦某隻股票被納入主要指數,他們通常會更加熱衷於該股票。我們預計大多數公司都會有一些機構在登記簿上,尤其是那些正在增長的公司。
TScan Therapeutics already has institutions on the share registry. Indeed, they own a respectable stake in the company. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at TScan Therapeutics' earnings history below. Of course, the future is what really matters.
TScan Therapeutics已經擁有許多股東,其中不乏機構股東佔據相當大的股份,這表明他們在專業投資者中具有一定的信譽。但是我們不能僅僅依靠這個事實,因爲機構有時候也會做出糟糕的投資,就像每個人一樣。如果多個機構同時改變他們對某支股票的看法,你可能會看到股價快速下跌。因此,值得看一看TScan Therapeutics以下的收益歷史。當然,未來才是真正的關鍵。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240628/0-46d6bf0282374d580d52392fd54bd53a-1-d14d99100188f8c7d80388cdc91fcad5.png/big)
It would appear that 46% of TScan Therapeutics shares are controlled by hedge funds. That catches my attention because hedge funds sometimes try to influence management, or bring about changes that will create near term value for shareholders. Looking at our data, we can see that the largest shareholder is Baker Bros. Advisors LP with 13% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 9.9% and 9.5%, of the shares outstanding, respectively.
看來TScan Therapeutics的46%股權由對沖基金控制。這引起了我的關注,因爲對沖基金有時會試圖影響管理層或促使公司做出改變,以創造近期的股東價值。從我們的數據來看,最大的股東是Baker Bros. Advisors LP,持有該公司13%的流通股。同時,第二和第三大股東分別持有該公司流通股的9.9%和9.5%。
We also observed that the top 6 shareholders account for more than half of the share register, with a few smaller shareholders to balance the interests of the larger ones to a certain extent.
我們還觀察到,前6大股東持有超過一半的股份登記簿,有一些較小的股東來平衡較大股東的利益。
While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.
儘管研究公司的機構持股可以增加您的研究價值,但研究分析師的建議也是一個好習慣,以更深入地了解股票的預期表現。有相當數量的分析師關注該股,因此了解他們對未來的總體觀點可能很有用。
Insider Ownership Of TScan Therapeutics
TScan Therapeutics內部股權
The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.
公司內部人員的定義可能是主觀的,並且在不同的司法管轄區之間有所不同。我們的數據反映了個人內部人員,至少捕捉到董事會成員的記錄。公司管理人員向董事會報告,後者應該代表股東的利益。值得注意的是,有時高級管理人員自己也在董事會中。
Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.
大多數人認爲內部所有權是積極的,因爲它可以表示董事會與其他股東的利益相一致。但是,在某些場合下,這個團體的權力過於集中。
Our information suggests that TScan Therapeutics, Inc. insiders own under 1% of the company. We do note, however, it is possible insiders have an indirect interest through a private company or other corporate structure. It appears that the board holds about US$2.6m worth of stock. This compares to a market capitalization of US$323m. We generally like to see a board more invested. However it might be worth checking if those insiders have been buying.
我們了解的信息表明,TScan Therapeutics, Inc.內部人員持有的公司股份不到1%。但是我們注意到,內部人員可能通過私人公司或其他公司結構間接擁有利益。看起來,董事會持有價值約260萬美元的股票,而市值爲3.23億美元。我們通常希望看到董事會的投資更多一些。但值得檢查的是,那些內部人員是否一直在購買股票。
General Public Ownership
一般大衆所有權
With a 13% ownership, the general public, mostly comprising of individual investors, have some degree of sway over TScan Therapeutics. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.
擁有13%股權的普通公衆,主要由個人投資者組成,在TScan Therapeutics擁有一定的影響力。儘管擁有相當大的所有權,但如果決策與其他大的股東不符,可能無法改變公司政策。
Private Company Ownership
私有公司的所有權
Our data indicates that Private Companies hold 4.1%, of the company's shares. Private companies may be related parties. Sometimes insiders have an interest in a public company through a holding in a private company, rather than in their own capacity as an individual. While it's hard to draw any broad stroke conclusions, it is worth noting as an area for further research.
我們的數據顯示,私人公司持有該公司4.1%的股份。私人公司可能是相關方。有時內部人員通過控股私人公司而擁有公開公司的利益,而不是以個人身份擁有。雖然很難得出任何概括性結論,但這值得進一步研究。
Next Steps:
下一步:
It's always worth thinking about the different groups who own shares in a company. But to understand TScan Therapeutics better, we need to consider many other factors. For instance, we've identified 4 warning signs for TScan Therapeutics (1 is significant) that you should be aware of.
思考擁有公司股份的不同群體總是有價值的。但爲了更好地了解TScan Therapeutics,我們需要考慮許多其他因素。例如,我們已經確定了TScan Therapeutics的4個警示信號(其中1個很重要),你應該知道。
But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.
但最終,決定該業務所有者將獲得多大利益的是未來而非過去。因此,我們認爲最好查看此免費報告,以了解分析師是否預測更光明的未來。
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
注:本文中的數據是使用最後一個財務報表日期結束的爲期12個月的數據計算的。這可能與全年年度報告數據不一致。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者,發送電子郵件至editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。