TRACON Pharmaceuticals Inc (NASDAQ:TCON) hit a new 52-week low during trading on Thursday . The stock traded as low as $1.16 and last traded at $1.29, with a volume of 1168 shares traded. The stock had previously closed at $1.31.
Separately, Zacks Investment Research upgraded TRACON Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research note on Tuesday, August 14th.
The company has a market capitalization of $40.92 million, a P/E ratio of -1.14 and a beta of 2.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.57 and a quick ratio of 3.57.
TRACON Pharmaceuticals (NASDAQ:TCON) last announced its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.03). On average, research analysts forecast that TRACON Pharmaceuticals Inc will post -1.44 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in TCON. Bridgeway Capital Management Inc. increased its stake in TRACON Pharmaceuticals by 100.0% during the third quarter. Bridgeway Capital Management Inc. now owns 100,000 shares of the biopharmaceutical company’s stock worth $205,000 after acquiring an additional 50,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake 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 acquiring an additional 60,574 shares during the last quarter. Renaissance Technologies LLC increased its stake in TRACON Pharmaceuticals by 12.3% during the third quarter. Renaissance Technologies LLC now owns 808,100 shares of the biopharmaceutical company’s stock worth $1,657,000 after acquiring an additional 88,200 shares during the last quarter. Finally, 683 Capital Management LLC increased its stake 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 acquiring an additional 1,238,938 shares during the last quarter. Institutional investors own 56.38% of the company’s stock.
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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.
See Also: Cost of Equity For A Business, Investors
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