Tocagen (NASDAQ:TOCA) Sees Strong Trading Volume

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Tocagen Inc (NASDAQ:TOCA) shares saw unusually-strong trading volume on Wednesday . Approximately 910,106 shares were traded during trading, an increase of 248% from the previous session’s volume of 261,641 shares.The stock last traded at $5.94 and had previously closed at $5.12.

Several equities analysts have commented on TOCA shares. Zacks Investment Research downgraded shares of Tocagen from a “buy” rating to a “hold” rating in a research report on Tuesday. Chardan Capital reissued a “buy” rating on shares of Tocagen in a research report on Tuesday, April 23rd. ValuEngine downgraded shares of Tocagen from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. Leerink Swann started coverage on shares of Tocagen in a research report on Monday, April 15th. They set a “market perform” rating and a $10.26 target price on the stock. Finally, Cantor Fitzgerald started coverage on shares of Tocagen in a research report on Thursday, April 25th. They set an “overweight” rating and a $28.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $16.30.

The company has a current ratio of 5.05, a quick ratio of 5.05 and a debt-to-equity ratio of 0.75. The firm has a market cap of $141.27 million, a PE ratio of -2.43 and a beta of 3.78.

Tocagen (NASDAQ:TOCA) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.75) by $0.01. Tocagen had a negative net margin of 294.74% and a negative return on equity of 108.08%. The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $2.01 million. On average, equities analysts forecast that Tocagen Inc will post -2.94 EPS for the current fiscal year.

In other news, Director Faheem Hasnain purchased 43,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was bought at an average cost of $4.66 per share, for a total transaction of $200,380.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 53,000 shares of company stock valued at $244,880 over the last 90 days. Corporate insiders own 10.90% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its stake in shares of Tocagen by 72,350.0% in the first quarter. BNP Paribas Arbitrage SA now owns 4,347 shares of the company’s stock valued at $47,000 after buying an additional 4,341 shares during the period. Creative Planning bought a new stake in shares of Tocagen in the first quarter valued at about $117,000. Stratos Wealth Partners LTD. lifted its stake in shares of Tocagen by 9.0% in the fourth quarter. Stratos Wealth Partners LTD. now owns 11,449 shares of the company’s stock valued at $94,000 after buying an additional 949 shares during the period. Dowling & Yahnke LLC bought a new stake in shares of Tocagen in the first quarter valued at about $132,000. Finally, American International Group Inc. lifted its stake in shares of Tocagen by 11.7% in the first quarter. American International Group Inc. now owns 13,103 shares of the company’s stock valued at $142,000 after buying an additional 1,368 shares during the period. Institutional investors own 35.09% of the company’s stock.

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Tocagen Company Profile (NASDAQ:TOCA)

Tocagen Inc, a clinical-stage cancer-selective gene therapy company, focuses on developing and commercializing product candidates designed to activate a patient's immune system against their cancer. Its cancer-selective gene therapy platform is built on retroviral replicating vectors (RRVs), which are designed to deliver therapeutic genes into the DNA of cancer cells.

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