TRACON Pharmaceuticals Inc (NASDAQ:TCON)’s share price dropped 8.6% during trading on Monday . The company traded as low as $0.31 and last traded at $0.32, approximately 787,000 shares changed hands during trading. An increase of 157% from the average daily volume of 306,800 shares. The stock had previously closed at $0.35.
TCON has been the subject of a number of research reports. Zacks Investment Research raised TRACON Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, October 4th. HC Wainwright initiated coverage on TRACON Pharmaceuticals in a report on Thursday, August 29th. They set a “buy” rating and a $2.00 target price for the company.
The company has a debt-to-equity ratio of 0.45, a current ratio of 1.93 and a quick ratio of 1.93. The stock has a market cap of $9.67 million, a price-to-earnings ratio of -0.25 and a beta of 2.30. The stock has a fifty day moving average of $0.43 and a 200 day moving average of $0.61.
TRACON Pharmaceuticals (NASDAQ:TCON) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.02). As a group, equities analysts expect that TRACON Pharmaceuticals Inc will post -0.83 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Susquehanna International Group LLP purchased a new position in TRACON Pharmaceuticals during the second quarter valued at approximately $26,000. Wedbush Securities Inc. purchased a new position in TRACON Pharmaceuticals during the second quarter valued at approximately $32,000. Finally, Renaissance Technologies LLC raised its position in TRACON Pharmaceuticals by 17.5% during the second quarter. Renaissance Technologies LLC now owns 1,209,203 shares of the biopharmaceutical company’s stock valued at $822,000 after acquiring an additional 179,718 shares in the last quarter. Institutional investors own 57.06% of the company’s stock.
TRACON Pharmaceuticals Company Profile (NASDAQ:TCON)
TRACON Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for cancer and wet age-related macular degeneration (AMD). Its lead product candidate is TRC105, an endoglin antibody, which is in randomized Phase III clinical trial for angiosarcoma; Phase I/II clinical trial for hepatocellular carcinoma; Phase I clinical trial for lung cancer; Phase I/II clinical trial for breast cancer; Phase II clinical trials for prostate cancer; and randomized Phase II clinical trial for wet AMD.
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