Mark C. Wiggins Purchases 7,000 Shares of TRACON Pharmaceuticals Inc (NASDAQ:TCON) Stock

TRACON Pharmaceuticals Inc (NASDAQ:TCON) insider Mark C. Wiggins purchased 7,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were purchased at an average cost of $4.14 per share, for a total transaction of $28,980.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of TCON stock opened at $4.53 on Wednesday. TRACON Pharmaceuticals Inc has a 1-year low of $0.95 and a 1-year high of $5.50. The stock’s 50-day moving average is $2.23 and its 200 day moving average is $2.01. The company has a market cap of $53.09 million, a P/E ratio of -1.02 and a beta of 1.95. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.62 and a quick ratio of 1.62.

TRACON Pharmaceuticals (NASDAQ:TCON) last issued its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.04. On average, analysts anticipate that TRACON Pharmaceuticals Inc will post -2.81 EPS for the current year.

TCON has been the topic of a number of recent research reports. Zacks Investment Research downgraded TRACON Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price objective on shares of TRACON Pharmaceuticals in a research report on Monday, August 17th.

Hedge funds and other institutional investors have recently modified their holdings of the business. Wedbush Securities Inc. acquired a new stake in TRACON Pharmaceuticals in the second quarter worth about $50,000. Virtu Financial LLC acquired a new stake in TRACON Pharmaceuticals in the second quarter worth about $76,000. JPMorgan Chase & Co. acquired a new stake in TRACON Pharmaceuticals in the first quarter worth about $57,000. Two Sigma Investments LP acquired a new stake in TRACON Pharmaceuticals in the first quarter worth about $61,000. Finally, Dowling & Yahnke LLC acquired a new stake in TRACON Pharmaceuticals in the first quarter worth about $26,000. 18.30% of the stock is owned by institutional investors and hedge funds.

About TRACON Pharmaceuticals

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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