Short Interest in TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) Increases By 39.6%

TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 166,100 shares, an increase of 39.6% from the May 31st total of 119,000 shares. Currently, 6.6% of the company’s shares are sold short. Based on an average daily trading volume, of 220,600 shares, the short-interest ratio is presently 0.8 days.

Analysts Set New Price Targets

Several equities research analysts recently commented on TCON shares. StockNews.com downgraded shares of TRACON Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday. HC Wainwright cut their target price on shares of TRACON Pharmaceuticals from $120.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd.

TRACON Pharmaceuticals Stock Performance

Shares of NASDAQ TCON traded up $0.17 during midday trading on Friday, reaching $1.60. The stock had a trading volume of 371,535 shares, compared to its average volume of 207,552. The firm has a market cap of $4.29 million, a price-to-earnings ratio of 2.39 and a beta of 1.25. TRACON Pharmaceuticals has a twelve month low of $0.66 and a twelve month high of $14.75. The company’s 50 day moving average price is $1.50 and its 200 day moving average price is $3.42.

TRACON Pharmaceuticals (NASDAQ:TCON) last issued its quarterly earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.13). The firm had revenue of $0.10 million for the quarter. During the same period in the prior year, the company posted ($7.20) EPS. Equities analysts forecast that TRACON Pharmaceuticals will post -4 earnings per share for the current fiscal year.

TRACON Pharmaceuticals Announces Dividend

The company also recently declared a dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 28th will be given a $0.045 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a dividend yield of 40.3%.

TRACON Pharmaceuticals Company Profile

TRACON Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel targeted therapeutics for cancer in the United States. Its clinical stage products include envafolimab (KN035), a PD-L1 single-domain antibody for the treatment of refractory soft tissue sarcoma; and YH001, an investigational humanized cytotoxic T-lymphocyte-associated protein 4 IgG1 monoclonal antibody that is in Phase I clinical trial for the treatment of various cancer indications.