TRACON Pharmaceuticals (NASDAQ:TCON) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of TRACON Pharmaceuticals (NASDAQ:TCON) in a research note published on Monday, Benzinga reports. They currently have a $7.00 price target on the biopharmaceutical company’s stock.

Several other equities analysts have also issued reports on TCON. Robert W. Baird dropped their price target on TRACON Pharmaceuticals from $7.00 to $3.00 and set an outperform rating on the stock in a research note on Tuesday, August 15th. StockNews.com started coverage on TRACON Pharmaceuticals in a research note on Wednesday, November 15th. They issued a hold rating on the stock. Finally, Jonestrading reissued a hold rating on shares of TRACON Pharmaceuticals in a research note on Monday, August 21st.

TRACON Pharmaceuticals Stock Performance

Shares of TCON opened at $0.17 on Monday. TRACON Pharmaceuticals has a 52-week low of $0.13 and a 52-week high of $2.19. The business’s 50 day moving average price is $0.18 and its two-hundred day moving average price is $0.33. The firm has a market cap of $5.40 million, a PE ratio of -0.30 and a beta of 1.21.

Hedge Funds Weigh In On TRACON Pharmaceuticals

A number of institutional investors have recently modified their holdings of TCON. Renaissance Technologies LLC grew its stake in shares of TRACON Pharmaceuticals by 24.8% during the 1st quarter. Renaissance Technologies LLC now owns 168,600 shares of the biopharmaceutical company’s stock worth $319,000 after acquiring an additional 33,551 shares during the period. Bank of New York Mellon Corp grew its position in TRACON Pharmaceuticals by 67.2% during the 1st quarter. Bank of New York Mellon Corp now owns 142,253 shares of the biopharmaceutical company’s stock worth $374,000 after acquiring an additional 57,174 shares during the last quarter. Millennium Management LLC bought a new position in TRACON Pharmaceuticals during the 2nd quarter worth approximately $150,000. CI Private Wealth LLC bought a new position in TRACON Pharmaceuticals during the 4th quarter worth approximately $86,000. Finally, Virtu Financial LLC bought a new position in TRACON Pharmaceuticals during the 4th quarter worth approximately $67,000. 40.17% of the stock is owned by institutional investors and hedge funds.

TRACON Pharmaceuticals Company Profile

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.