Tricida, Inc. (NASDAQ:TCDA) Short Interest Update

Tricida, Inc. (NASDAQ:TCDAGet Rating) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 4,300,000 shares, an increase of 25.0% from the March 31st total of 3,440,000 shares. Based on an average daily volume of 385,100 shares, the days-to-cover ratio is presently 11.2 days. Currently, 16.2% of the company’s stock are short sold.

TCDA stock opened at $8.97 on Tuesday. The company has a quick ratio of 4.94, a current ratio of 4.94 and a debt-to-equity ratio of 584.92. The business has a 50 day moving average price of $9.04 and a two-hundred day moving average price of $8.40. The company has a market cap of $497.05 million, a price-to-earnings ratio of -2.61 and a beta of 1.10. Tricida has a twelve month low of $3.55 and a twelve month high of $12.45.

Tricida (NASDAQ:TCDAGet Rating) last posted its quarterly earnings results on Tuesday, March 29th. The company reported ($0.92) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.21). During the same quarter in the previous year, the company posted ($1.09) earnings per share. On average, equities research analysts anticipate that Tricida will post -2.35 EPS for the current fiscal year.

A number of equities research analysts recently issued reports on TCDA shares. The Goldman Sachs Group started coverage on Tricida in a research report on Tuesday, April 12th. They issued a “buy” rating and a $25.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price (down previously from $20.00) on shares of Tricida in a research report on Wednesday, March 30th. Finally, Zacks Investment Research lowered Tricida from a “buy” rating to a “hold” rating in a research report on Thursday, January 20th.

In other news, major shareholder Brian M. Isern sold 11,804 shares of the firm’s stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $10.61, for a total transaction of $125,240.44. Following the sale, the insider now owns 770,496 shares of the company’s stock, valued at $8,174,962.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 47.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Tricida by 92.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,270 shares of the company’s stock valued at $27,000 after purchasing an additional 1,569 shares in the last quarter. Dorsey Wright & Associates bought a new position in Tricida in the first quarter valued at approximately $30,000. Hsbc Holdings PLC bought a new position in shares of Tricida during the 3rd quarter worth approximately $47,000. Barclays PLC boosted its stake in shares of Tricida by 112.7% during the 3rd quarter. Barclays PLC now owns 20,253 shares of the company’s stock worth $94,000 after acquiring an additional 10,733 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Tricida by 1.2% during the 4th quarter. BlackRock Inc. now owns 960,777 shares of the company’s stock worth $9,185,000 after acquiring an additional 11,169 shares during the period. Hedge funds and other institutional investors own 79.28% of the company’s stock.

About Tricida (Get Rating)

Tricida, Inc operates as a pharmaceutical company. It focuses on the development and commercialization of veverimer (TRC101), a non-absorbed orally-administered polymer that has completed Phase III trial to treat metabolic acidosis in patients with chronic kidney disease by binding and removing acid from the gastrointestinal track.

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