TRACON Pharmaceuticals (TCON) Stock Price Down 12.3%

TRACON Pharmaceuticals Inc (NASDAQ:TCON) fell 12.3% during trading on Wednesday . The company traded as low as $1.23 and last traded at $1.21. 896,880 shares changed hands during trading, an increase of 112% from the average session volume of 422,831 shares. The stock had previously closed at $1.38.

A number of research firms have commented on TCON. Zacks Investment Research cut shares of TRACON Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday. BTIG Research decreased their target price on shares of TRACON Pharmaceuticals to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, December 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $7.00 target price on shares of TRACON Pharmaceuticals in a research note on Friday, March 1st.

Get TRACON Pharmaceuticals alerts:

The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.21. The firm has a market cap of $38.43 million, a PE ratio of -1.05 and a beta of 2.95.

In related news, CEO Charles Theuer acquired 49,000 shares of the business’s stock in a transaction on Friday, December 21st. The stock was acquired at an average cost of $0.66 per share, with a total value of $32,340.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 23.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bridgeway Capital Management Inc. grew its holdings in TRACON Pharmaceuticals by 100.0% during the 3rd quarter. Bridgeway Capital Management Inc. now owns 100,000 shares of the biopharmaceutical company’s stock valued at $205,000 after buying an additional 50,000 shares in the last quarter. Renaissance Technologies LLC grew its holdings in TRACON Pharmaceuticals by 12.3% during the 3rd quarter. Renaissance Technologies LLC now owns 808,100 shares of the biopharmaceutical company’s stock valued at $1,657,000 after buying an additional 88,200 shares in the last quarter. Finally, Telemetry Investments L.L.C. grew its holdings in TRACON Pharmaceuticals by 153.5% during the 4th quarter. Telemetry Investments L.L.C. now owns 966,975 shares of the biopharmaceutical company’s stock valued at $609,000 after buying an additional 585,566 shares in the last quarter. 55.59% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Ticker Report and is owned by of Ticker Report. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/4207646/tracon-pharmaceuticals-tcon-stock-price-down-12-3.html.

TRACON Pharmaceuticals Company Profile (NASDAQ:TCON)

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.

Read More: What is the Consumer Price Index (CPI)?