Tricida Inc. [TCDA] moved down -23.64: Why It’s Important

Tricida Inc. [NASDAQ: TCDA] slipped around -3.13 points on Monday, while shares priced at $10.11 at the close of the session, down -23.64%. The company report on August 24, 2020 that Tricida Receives Complete Response Letter from the FDA for its New Drug Application for Veverimer for the Treatment of Metabolic Acidosis and Slowing of Kidney Disease Progression in Patients with Metabolic Acidosis Associated with CKD.

Tricida, Inc. (Nasdaq: TCDA), a pharmaceutical company focused on the development and commercialization of its drug candidate, veverimer (TRC101), a non-absorbed, orally-administered polymer designed to treat metabolic acidosis in patients with chronic kidney disease (CKD), announced today that it received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) for its New Drug Application (NDA) for veverimer on August 21, 2020. The NDA was reviewed under the Accelerated Approval Program.

According to the CRL, the FDA is seeking additional data beyond the TRCA-301 and TRCA-301E trials regarding the magnitude and durability of the treatment effect of veverimer on the surrogate marker of serum bicarbonate and the applicability of the treatment effect to the U.S. population. FDA also expressed concern as to whether the demonstrated effect size would be reasonably likely to predict clinical benefit. There were no safety, clinical pharmacology/biopharmaceutics, CMC or non-clinical issues identified in the CRL.

Tricida Inc. stock is now -73.21% down from its year-to-date (YTD) trading value. TCDA Stock saw the intraday high of $12.50 and lowest of $9.5601 per share. The company’s 52-week high price is 44.30, which means current price is +5.75% above from all time high which was touched on 02/05/20.

Compared to the average trading volume of 746.47K shares, TCDA reached a trading volume of 5514077 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Tricida Inc. [TCDA]?

Goldman have made an estimate for Tricida Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 27, 2019. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on May 24, 2019, representing the official price target for Tricida Inc. stock. Previously, the target price had yet another raise to $34, while JP Morgan analysts kept a Neutral rating on TCDA stock.

The Average True Range (ATR) for Tricida Inc. is set at 1.17 The Price to Book ratio for the last quarter was 2.19, with the Price to Cash per share for the same quarter was set at 7.10.

How has TCDA stock performed recently?

Tricida Inc. [TCDA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -32.46. With this latest performance, TCDA shares dropped by -27.21% in over the last four-week period, additionally sinking by -70.01% over the last 6 months – not to mention a drop of -69.48% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TCDA stock in for the last two-week period is set at 21.80, with the RSI for the last a single of trading hit 18.41, and the three-weeks RSI is set at 24.76 for Tricida Inc. [TCDA]. The present Moving Average for the last 50 days of trading for this stock 19.60, while it was recorded at 13.28 for the last single week of trading, and 29.08 for the last 200 days.

Tricida Inc. [TCDA]: Deeper insight into the fundamentals

Return on Total Capital for TCDA is now -63.33, given the latest momentum, and Return on Invested Capital for the company is -62.74. Return on Equity for this stock declined to -77.14, with Return on Assets sitting at -57.07. When it comes to the capital structure of this company, Tricida Inc. [TCDA] has a Total Debt to Total Equity ratio set at 25.86. Additionally, TCDA Total Debt to Total Capital is recorded at 20.54, with Total Debt to Total Assets ending up at 18.35. Long-Term Debt to Equity for the company is recorded at 25.45, with the Long-Term Debt to Total Capital now at 20.22.

Reflecting on the efficiency of the workforce at the company, Tricida Inc. [TCDA] managed to generate an average of -$1,485,824 per employee.Tricida Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.50 and a Current Ratio set at 11.50.

Earnings analysis for Tricida Inc. [TCDA]

With the latest financial reports released by the company, Tricida Inc. posted -0.89/share EPS, while the average EPS was predicted by analysts to be reported at -0.89/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TCDA.

Insider trade positions for Tricida Inc. [TCDA]

There are presently around $415 million, in the hands of institutional investors. The top three institutional holders of TCDA stocks are: ORBIMED ADVISORS LLC with ownership of 9,614,280, which is approximately 0% of the company’s market cap and around 2.20% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 4,808,703 shares of the stock with an approximate value of $48.62 million in TCDA stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $37.46 million in TCDA stock with ownership of nearly 6.157% of the company’s market capitalization.

Positions in Tricida Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 76 institutional holders increased their position in Tricida Inc. [NASDAQ:TCDA] by around 6,006,056 shares. Additionally, 36 investors decreased positions by around 4,469,195 shares, while 12 investors held positions by with 30,527,252 shares. The mentioned changes placed institutional holdings at 41,002,503 shares, according to the latest SEC report filing. TCDA stock had 25 new institutional investments in for a total of 1,046,976 shares, while 11 institutional investors sold positions of 618,499 shares during the same period.

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