TRACON Pharmaceuticals Inc (NASDAQ:TCON) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 17,300 shares, a decline of 23.1% from the June 15th total of 22,500 shares. Based on an average daily trading volume, of 304,900 shares, the short-interest ratio is presently 0.1 days. Approximately 0.4% of the company’s shares are short sold.
Shares of NASDAQ TCON traded up $0.04 during trading on Tuesday, hitting $1.89. 3,457 shares of the company traded hands, compared to its average volume of 268,137. TRACON Pharmaceuticals has a 1 year low of $0.95 and a 1 year high of $6.28. The company has a 50-day moving average price of $2.04 and a 200-day moving average price of $2.45. The firm has a market capitalization of $10.45 million, a P/E ratio of -0.32 and a beta of 2.06. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.23.
TRACON Pharmaceuticals (NASDAQ:TCON) last posted its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.78) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.13) by $0.35. Research analysts predict that TRACON Pharmaceuticals will post -3.11 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Dowling & Yahnke LLC acquired a new position in shares of TRACON Pharmaceuticals during the 1st quarter valued at $26,000. JPMorgan Chase & Co. acquired a new position in shares of TRACON Pharmaceuticals during the 1st quarter valued at $57,000. Finally, Two Sigma Investments LP acquired a new position in shares of TRACON Pharmaceuticals during the 1st quarter valued at $61,000. Institutional investors and hedge funds own 23.02% of the company’s stock.
Several brokerages have recently issued reports on TCON. Zacks Investment Research cut shares of TRACON Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, June 10th. HC Wainwright lowered their price objective on shares of TRACON Pharmaceuticals from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, April 24th.
TRACON Pharmaceuticals Company Profile
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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