TRACON Pharmaceuticals Inc. [TCON] moved down -9.56: Why It’s Important

TRACON Pharmaceuticals Inc. [NASDAQ: TCON] plunged by -$0.96 during the normal trading session on Tuesday and reaching a high of $10.40 during the day while it closed the day at $9.08. The company report on November 23, 2020 that TRACON Announces Publication in Cancer Cell of Clinical Data that Provides Molecular Insight into the Mechanism of Action of TRC102 and Patient Populations Most Likely to Respond to Treatment.

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TRACON Pharmaceuticals (NASDAQ:TCON), a clinical stage biopharmaceutical company focused on the development and commercialization of novel targeted cancer therapeutics and utilizing a cost efficient, CRO-independent product development platform to partner with ex-U.S. companies to develop and commercialize innovative products in the U.S., announced the publication of clinical data that provides molecular insight into TRC102’s mechanism of action and patient populations most likely to respond to treatment. The article, entitled, “Molecular Features of Cancers Exhibiting Exceptional Responses to Treatment,” highlights the clinical features and tumor biology of an exceptional responder patient treated with TRC102 at the National Cancer Institute (NCI): https://www.traconpharma.com/wp-content/uploads/2020/11/Can_Cell_2020_Nov_Mol_Analysis_ER.pdf.

The patient was diagnosed with metastatic and highly refractory colorectal cancer and received temozolomide (Temodar®) and TRC102. Following treatment, the patient was considered an exceptional responder through the achievement of a near compete response lasting 45 months at the most recent follow-up. Detailed molecular analyses of the patient’s tumor showed silencing of DNA repair pathways that may have resulted in sensitivity to the inhibition of DNA base excision repair pathway by TRC102. Specifically, MGMT expression was silenced by promoter methylation, and RAD50, a mediator of DNA double strand break repair, was silenced by genetic mutation and loss of heterozygosity. The publication authors hypothesized that the combination of Temodar and TRC102 was effective because all necessary DNA repair pathways were compromised genetically or through the activity of TRC102. MGMT expression was also assessed in biopsies from 11 colorectal patients who subsequently enrolled in an expansion cohort, one of which demonstrated a partial response. The tumor associated with the partial response did not express MGMT, whereas each of the 10 tumors that did not respond to therapy expressed this enzyme robustly.

TRACON Pharmaceuticals Inc. stock has also gained 0.44% of its value over the past 7 days. However, TCON stock has inclined by 276.76% in the 3 months of the year. Over the past six months meanwhile, it has gained 289.43% and gained 288.03% year-on date.

The market cap for TCON stock reached $128.03 million, with 10.51 million shares outstanding and 9.18 million shares in the current float. Compared to the average trading volume of 1.38M shares, TCON reached a trading volume of 1149184 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about TRACON Pharmaceuticals Inc. [TCON]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TCON shares is $7.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TCON stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for TRACON Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 23, 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 March 01, 2019, representing the official price target for TRACON Pharmaceuticals Inc. stock. Previously, the target price had yet another drop from $14 to $6, while Stifel kept a Buy rating on TCON stock.

The Average True Range (ATR) for TRACON Pharmaceuticals Inc. is set at 0.96 The Price to Book ratio for the last quarter was 6.18.

TCON stock trade performance evaluation

TRACON Pharmaceuticals Inc. [TCON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.44. With this latest performance, TCON shares gained by 95.69% in over the last four-week period, additionally plugging by 289.43% over the last 6 months – not to mention a rise of 178.53% 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 TCON stock in for the last two-week period is set at 64.02, with the RSI for the last a single of trading hit 62.04, and the three-weeks RSI is set at 64.23 for TRACON Pharmaceuticals Inc. [TCON]. The present Moving Average for the last 50 days of trading for this stock 5.94, while it was recorded at 9.10 for the last single week of trading, and 3.11 for the last 200 days.

TRACON Pharmaceuticals Inc. [TCON]: An insightful look at the core fundamentals

Return on Total Capital for TCON is now -121.06, given the latest momentum, and Return on Invested Capital for the company is -138.29. Return on Equity for this stock declined to -187.85, with Return on Assets sitting at -77.16. When it comes to the capital structure of this company, TRACON Pharmaceuticals Inc. [TCON] has a Total Debt to Total Equity ratio set at 232.32. Additionally, TCON Total Debt to Total Capital is recorded at 69.91, with Total Debt to Total Assets ending up at 34.59. Long-Term Debt to Equity for the company is recorded at 122.65, with the Long-Term Debt to Total Capital now at 36.91.

Reflecting on the efficiency of the workforce at the company, TRACON Pharmaceuticals Inc. [TCON] managed to generate an average of -$1,193,368 per employee.TRACON Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.80 and a Current Ratio set at 2.80.

Earnings per share (EPS) analysis for TRACON Pharmaceuticals Inc. [TCON] stock

With the latest financial reports released by the company, TRACON Pharmaceuticals Inc. posted -1.25/share EPS, while the average EPS was predicted by analysts to be reported at -1.66/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 24.70%. 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 TCON.

TRACON Pharmaceuticals Inc. [TCON]: Insider Ownership positions

There are presently around $52 million, or 42.60% of TCON stock, in the hands of institutional investors. The top three institutional holders of TCON stocks are: IKARIAN CAPITAL, LLC with ownership of 2,162,549, which is approximately New of the company’s market cap and around 1.50% of the total institutional ownership; OPALEYE MANAGEMENT INC., holding 2,013,438 shares of the stock with an approximate value of $18.28 million in TCON stocks shares; and NEA MANAGEMENT COMPANY, LLC, currently with $3.15 million in TCON stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in TRACON Pharmaceuticals Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 16 institutional holders increased their position in TRACON Pharmaceuticals Inc. [NASDAQ:TCON] by around 4,684,824 shares. Additionally, 9 investors decreased positions by around 472,935 shares, while 7 investors held positions by with 569,427 shares. The mentioned changes placed institutional holdings at 5,727,186 shares, according to the latest SEC report filing. TCON stock had 14 new institutional investments in for a total of 4,673,868 shares, while 5 institutional investors sold positions of 195,714 shares during the same period.

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