Shares of TRACON Pharmaceuticals Inc (NASDAQ:TCON) hit a new 52-week low during trading on Monday . The stock traded as low as $1.82 and last traded at $1.90, with a volume of 6636 shares changing hands. The stock had previously closed at $1.98.
Separately, Zacks Investment Research upgraded shares of TRACON Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a report on Tuesday, August 14th.
The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $61.17 million, a PE ratio of -1.68 and a beta of 1.87.
TRACON Pharmaceuticals (NASDAQ:TCON) last posted its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). Analysts forecast that TRACON Pharmaceuticals Inc will post -1.23 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of TCON. Dimensional Fund Advisors LP increased its holdings in TRACON Pharmaceuticals by 368.8% during the second quarter. Dimensional Fund Advisors LP now owns 76,999 shares of the biopharmaceutical company’s stock worth $208,000 after buying an additional 60,574 shares during the last quarter. Renaissance Technologies LLC increased its holdings in TRACON Pharmaceuticals by 40.7% during the second quarter. Renaissance Technologies LLC now owns 719,900 shares of the biopharmaceutical company’s stock worth $1,944,000 after buying an additional 208,300 shares during the last quarter. Finally, 683 Capital Management LLC increased its holdings in TRACON Pharmaceuticals by 82.6% during the second quarter. 683 Capital Management LLC now owns 2,738,938 shares of the biopharmaceutical company’s stock worth $7,073,000 after buying an additional 1,238,938 shares during the last quarter. Institutional investors and hedge funds own 56.40% of the company’s stock.
About TRACON Pharmaceuticals (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.
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