TRACON Pharmaceuticals (NASDAQ:TCON – Get Rating) had its target price dropped by analysts at Robert W. Baird from $8.00 to $7.00 in a research report issued to clients and investors on Thursday, The Fly reports.
TCON has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of TRACON Pharmaceuticals in a research report on Thursday, March 9th. StockNews.com initiated coverage on TRACON Pharmaceuticals in a research note on Monday, May 1st. They issued a “hold” rating for the company.
TRACON Pharmaceuticals Stock Performance
NASDAQ TCON opened at $0.67 on Thursday. The stock has a 50-day simple moving average of $1.46 and a 200 day simple moving average of $1.52. TRACON Pharmaceuticals has a twelve month low of $0.63 and a twelve month high of $2.32. The stock has a market capitalization of $15.96 million, a PE ratio of -0.48 and a beta of 1.36.
In related news, major shareholder Opaleye Management Inc. acquired 174,508 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was purchased at an average cost of $1.38 per share, for a total transaction of $240,821.04. Following the completion of the purchase, the insider now directly owns 4,324,508 shares of the company’s stock, valued at approximately $5,967,821.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders have purchased 178,707 shares of company stock worth $243,764. Company insiders own 5.27% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Jane Street Group LLC bought a new position in TRACON Pharmaceuticals in the 1st quarter valued at $27,000. Renaissance Technologies LLC raised its holdings in TRACON Pharmaceuticals by 29.1% during the 3rd quarter. Renaissance Technologies LLC now owns 67,900 shares of the biopharmaceutical company’s stock worth $113,000 after purchasing an additional 15,300 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in shares of TRACON Pharmaceuticals during the 1st quarter worth approximately $43,000. Virtu Financial LLC bought a new position in TRACON Pharmaceuticals in the fourth quarter valued at approximately $67,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of TRACON Pharmaceuticals by 67.2% in the 1st quarter. Bank of New York Mellon Corp now owns 142,253 shares of the biopharmaceutical company’s stock valued at $374,000 after purchasing an additional 57,174 shares during the period. Institutional investors own 46.04% of the company’s stock.
About TRACON Pharmaceuticals
TRACON Pharmaceuticals, Inc engages in the development and commercialization of targeted therapies for cancer, and ophthalmic and fibrotic diseases. Its products include TRC105, an anti-endoglin antibody for the treatment of solid tumor types, TRC205 created for the treatment of fibrotic diseases, and TRC102, a small molecule that is in clinical development made for lung cancer and glioblastoma.
- Get a free copy of the StockNews.com research report on TRACON Pharmaceuticals (TCON)
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