TRACON Pharmaceuticals, Inc. (NASDAQ:TCON – Get Rating) major shareholder Opaleye Management Inc. acquired 9,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The shares were purchased at an average cost of $1.76 per share, with a total value of $17,072.00. Following the transaction, the insider now directly owns 2,934,600 shares of the company’s stock, valued at $5,164,896. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Opaleye Management Inc. also recently made the following trade(s):
- On Monday, April 25th, Opaleye Management Inc. bought 10,777 shares of TRACON Pharmaceuticals stock. The stock was purchased at an average price of $2.18 per share, with a total value of $23,493.86.
- On Friday, April 22nd, Opaleye Management Inc. purchased 42,000 shares of TRACON Pharmaceuticals stock. The shares were purchased at an average price of $2.24 per share, for a total transaction of $94,080.00.
- On Wednesday, April 13th, Opaleye Management Inc. bought 7,345 shares of TRACON Pharmaceuticals stock. The shares were acquired at an average price of $2.50 per share, with a total value of $18,362.50.
- On Monday, April 11th, Opaleye Management Inc. purchased 9,100 shares of TRACON Pharmaceuticals stock. The stock was acquired at an average price of $2.42 per share, for a total transaction of $22,022.00.
Shares of TCON stock opened at $1.81 on Wednesday. TRACON Pharmaceuticals, Inc. has a twelve month low of $1.70 and a twelve month high of $7.42. The stock’s fifty day simple moving average is $2.45 and its 200 day simple moving average is $2.64. The firm has a market capitalization of $35.96 million, a P/E ratio of -1.07 and a beta of 1.82.
Several analysts recently weighed in on TCON shares. Robert W. Baird initiated coverage on TRACON Pharmaceuticals in a research report on Tuesday, February 22nd. They set an “outperform” rating and a $10.00 price objective for the company. Zacks Investment Research cut shares of TRACON Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, March 25th. Finally, StockNews.com started coverage on shares of TRACON Pharmaceuticals in a report on Tuesday. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.67.
Large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its position in TRACON Pharmaceuticals by 74.4% in the 2nd quarter. Wells Fargo & Company MN now owns 8,759 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 3,737 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of TRACON Pharmaceuticals in the third quarter worth $42,000. Cutler Group LP increased its holdings in TRACON Pharmaceuticals by 1,250.0% in the fourth quarter. Cutler Group LP now owns 16,200 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 15,000 shares during the period. Acadian Asset Management LLC raised its position in TRACON Pharmaceuticals by 45.8% during the 4th quarter. Acadian Asset Management LLC now owns 20,523 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 6,451 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in TRACON Pharmaceuticals by 114.3% during the 3rd quarter. Morgan Stanley now owns 24,704 shares of the biopharmaceutical company’s stock worth $96,000 after buying an additional 13,177 shares during the period. Institutional investors and hedge funds own 51.35% of the company’s stock.
TRACON Pharmaceuticals Company Profile (Get Rating)
TRACON Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for cancer in the United States. Its clinical stage products include envafolimab (KN035), a PD-L1 single-domain antibody for the treatment of soft tissue sarcoma; and YH001, an investigational humanized CTLA-4 IgG1 monoclonal antibody for the treatment of various cancer indications.
- Get a free copy of the StockNews.com research report on TRACON Pharmaceuticals (TCON)
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