Shares of TRACON Pharmaceuticals Inc (NASDAQ:TCON) saw unusually-strong trading volume on Monday . Approximately 1,842,583 shares were traded during trading, an increase of 306% from the previous session’s volume of 453,473 shares.The stock last traded at $1.49 and had previously closed at $1.40.
A number of research firms have commented on TCON. Zacks Investment Research upgraded TRACON Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $1.50 price target for the company in a research note on Wednesday, March 6th. BTIG Research decreased their price target on TRACON Pharmaceuticals to $9.00 and set a “buy” rating for the company in a research note on Wednesday, December 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price target on shares of TRACON Pharmaceuticals in a research note on Friday, March 1st.
The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.25. The company has a market cap of $41.86 million, a P/E ratio of -1.15 and a beta of 3.06.
A number of institutional investors have recently added to or reduced their stakes in TCON. Bridgeway Capital Management Inc. raised its stake in TRACON Pharmaceuticals by 100.0% in the third 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 during the last quarter. Renaissance Technologies LLC raised its stake in TRACON Pharmaceuticals by 12.3% in the third 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 during the last quarter. Finally, Telemetry Investments L.L.C. raised its stake in TRACON Pharmaceuticals by 153.5% in the fourth 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 during the last quarter. Institutional investors own 58.10% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “TRACON Pharmaceuticals (TCON) Sees Strong Trading Volume” was reported by Ticker Report and is the sole property of of Ticker Report. If you are viewing this news story on another website, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.tickerreport.com/banking-finance/4231454/tracon-pharmaceuticals-tcon-sees-strong-trading-volume.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.
See Also: Why Dividend Stocks May Be Right for You
Receive News & Ratings for TRACON Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TRACON Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.