NEA Management Company LLC Acquires 707,964 Shares of TRACON Pharmaceuticals (TCON)

NEA Management Company LLC boosted its holdings in shares of TRACON Pharmaceuticals (NASDAQ:TCON) by 25.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,467,181 shares of the biopharmaceutical company’s stock after acquiring an additional 707,964 shares during the period. NEA Management Company LLC owned about 0.20% of TRACON Pharmaceuticals worth $7,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. Alambic Investment Management L.P. bought a new position in TRACON Pharmaceuticals during the 1st quarter worth about $213,000. Renaissance Technologies LLC grew its holdings in TRACON Pharmaceuticals by 73.0% during the 4th quarter. Renaissance Technologies LLC now owns 264,700 shares of the biopharmaceutical company’s stock worth $887,000 after acquiring an additional 111,700 shares in the last quarter. X Square Capital LLC bought a new position in TRACON Pharmaceuticals during the 4th quarter worth about $436,000. Finally, 683 Capital Management LLC grew its holdings in TRACON Pharmaceuticals by 49.7% during the 4th quarter. 683 Capital Management LLC now owns 1,490,000 shares of the biopharmaceutical company’s stock worth $4,992,000 after acquiring an additional 495,000 shares in the last quarter. Institutional investors own 74.62% of the company’s stock.

TCON has been the topic of a number of recent analyst reports. Needham & Company LLC lowered their price target on shares of TRACON Pharmaceuticals to $8.00 and set a “buy” rating on the stock in a report on Thursday, May 10th. ValuEngine upgraded shares of TRACON Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 2nd.

NASDAQ:TCON opened at $2.75 on Friday. TRACON Pharmaceuticals has a fifty-two week low of $2.00 and a fifty-two week high of $3.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.24 and a quick ratio of 4.24.

TRACON Pharmaceuticals (NASDAQ:TCON) last released its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.10). TRACON Pharmaceuticals had a negative net margin of 201.21% and a negative return on equity of 82.47%. The firm had revenue of $3.00 million during the quarter, compared to the consensus estimate of $3.00 million. analysts anticipate that TRACON Pharmaceuticals will post -1.24 earnings per share for the current year.

In other news, major shareholder Enterprise Associates 14 New purchased 707,964 shares of the stock in a transaction dated Tuesday, March 27th. The shares were acquired at an average cost of $2.70 per share, for a total transaction of $1,911,502.80. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 23.30% of the stock is currently owned by company insiders.

TRACON Pharmaceuticals Company Profile

TRACON Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for cancer, wet age-related macular degeneration (AMD), and fibrotic diseases. Its lead product candidate is TRC105, an endoglin antibody, which is in Phase III clinical trials for angiosarcoma; randomized Phase II clinical trials for renal cell carcinoma; Phase II clinical trials for gestational trophoblastic neoplasia; Phase I/II clinical trials for hepatocellular carcinoma; Phase I clinical trial for lung cancer; Phase I/II clinical trials for breast cancer; Phase II clinical trials for prostate cancer; and randomized Phase II clinical trials for wet AMD.

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Institutional Ownership by Quarter for TRACON Pharmaceuticals (NASDAQ:TCON)

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