Traders Purchase Large Volume of Put Options on Tricida (NASDAQ:TCDA)


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Tricida, Inc. (NASDAQ:TCDA) was the recipient of unusually large options trading activity on Tuesday. Investors purchased 2,039 put options on the company. This represents an increase of 2,002% compared to the typical daily volume of 97 put options.

Shares of NASDAQ TCDA opened at $7.23 on Thursday. The company has a 50 day simple moving average of $7.47 and a 200 day simple moving average of $11.32. The firm has a market cap of $362.84 million, a PE ratio of -1.54 and a beta of 1.07. Tricida has a 1 year low of $3.74 and a 1 year high of $39.02. The company has a debt-to-equity ratio of 0.79, a current ratio of 11.52 and a quick ratio of 11.52.

Tricida (NASDAQ:TCDA) last issued its quarterly earnings data on Monday, November 9th. The company reported ($1.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.33). As a group, research analysts anticipate that Tricida will post -4.84 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on TCDA shares. BidaskClub upgraded shares of Tricida from a “sell” rating to a “hold” rating in a research note on Monday, December 28th. JPMorgan Chase & Co. started coverage on shares of Tricida in a research note on Tuesday, September 29th. They issued an “underweight” rating and a $8.00 price target on the stock. ValuEngine upgraded shares of Tricida from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 2nd. Finally, Zacks Investment Research downgraded shares of Tricida from a “hold” rating to a “sell” rating in a research note on Friday, December 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $22.00.

In other news, EVP Robert Mckague acquired 10,000 shares of Tricida stock in a transaction on Friday, December 11th. The shares were purchased at an average cost of $7.62 per share, for a total transaction of $76,200.00. Following the completion of the purchase, the executive vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $30,480. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gerrit Klaerner sold 21,489 shares of the stock in a transaction dated Monday, January 11th. The stock was sold at an average price of $7.49, for a total transaction of $160,952.61. Following the sale, the chief executive officer now owns 534,504 shares in the company, valued at $4,003,434.96. The disclosure for this sale can be found here. Corporate insiders own 70.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can raised its holdings in Tricida by 100.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 2,653 shares of the company’s stock valued at $73,000 after buying an additional 1,327 shares during the last quarter. Exane Derivatives raised its holdings in Tricida by 50.1% during the 3rd quarter. Exane Derivatives now owns 5,075 shares of the company’s stock worth $46,000 after purchasing an additional 1,695 shares during the last quarter. Bank of Montreal Can bought a new position in Tricida during the 2nd quarter worth approximately $62,000. Teachers Retirement System of The State of Kentucky raised its holdings in Tricida by 10.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 24,764 shares of the company’s stock worth $224,000 after purchasing an additional 2,364 shares during the last quarter. Finally, American International Group Inc. raised its holdings in Tricida by 33.8% during the 2nd quarter. American International Group Inc. now owns 17,292 shares of the company’s stock worth $475,000 after purchasing an additional 4,368 shares during the last quarter. Institutional investors and hedge funds own 81.12% of the company’s stock.

About Tricida

Tricida, Inc, a pharmaceutical company, focuses on the development and commercialization of its drug candidate, TRC101, a non-absorbed, orally-administered polymer designed as a potential treatment for metabolic acidosis in patients with chronic kidney disease (CKD). The company has completed a Phase 3, double-blind, placebo-controlled trial of TRC101 in patients with CKD and metabolic acidosis.

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