Tricida Inc. [TCDA] Stock trading around $0.26 per share: What’s Next?

Tricida Inc. [NASDAQ: TCDA] closed the trading session at $0.26 on 11/11/22. The day’s price range saw the stock hit a low of $0.2403, while the highest price level was $0.294. The company report on November 2, 2022 that Tricida Provides Strategic Update.

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Tricida, Inc. (NASDAQ: TCDA), announced today that the Board of Directors has authorized Tricida to initiate a review of strategic alternatives to maximize stakeholder value. To facilitate this review, Tricida has engaged Stifel and its wholly owned affiliate, Miller Buckfire, to serve as investment banking advisors and SierraConstellation Partners LLC to serve as a financial advisor. This strategic review may include consideration of the sale of the Company and/or its assets. Tricida is also currently evaluating plans to reduce operating expenses and anticipates initiating and announcing these plans in November 2022.

The Board of Directors and Tricida intend to conduct a thorough review of strategic options in order to maximize value to its stakeholders. However, there can be no assurance that a transaction would occur in a timely manner, if at all, or that a transaction would be completed on attractive terms. Tricida does not intend to comment further unless or until its Board of Directors has approved a definitive course of action, the review process is concluded, or it is determined other disclosure is appropriate.

The stocks have a year to date performance of -97.24 percent and weekly performance of -5.92 percent. The stock has been moved at -97.11 percent over the last six months. The stock has performed -97.89 percent around the most recent 30 days and changed -98.00 percent over the most recent 3-months.

If compared to the average trading volume of 6.34M shares, TCDA reached to a volume of 20580748 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 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 April 13, 2022. The new note on the price target was released on November 16, 2021, representing the official price target for Tricida Inc. stock. Previously, the target price had yet another raise to $8, while JP Morgan analysts kept a Underweight rating on TCDA stock. On August 25, 2020, analysts decreased their price target for TCDA shares from 25 to 10.

TCDA stock trade performance evaluation

Tricida Inc. [TCDA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.92. With this latest performance, TCDA shares dropped by -97.89% in over the last four-week period, additionally sinking by -97.11% over the last 6 months – not to mention a drop of -95.07% 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 19.49, with the RSI for the last a single of trading hit 15.44, and the three-weeks RSI is set at 23.23 for Tricida Inc. [TCDA]. The present Moving Average for the last 50 days of trading for this stock 7.7818, while it was recorded at 0.2573 for the last single week of trading, and 9.3340 for the last 200 days.

Tricida Inc. [TCDA]: An insightful look at the core fundamentals

Return on Equity for this stock declined to -323.71, with Return on Assets sitting at -67.89.

Tricida Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.10 and a Current Ratio set at 5.10.

Tricida Inc. [TCDA]: Insider Ownership positions

There are presently around $12 million, or 88.60% of TCDA stock, in the hands of institutional investors. The top three institutional holders of TCDA stocks are: ORBIMED ADVISORS LLC with ownership of 10,280,947, which is approximately 0% of the company’s market cap and around 8.35% of the total institutional ownership; VR ADVISER, LLC, holding 7,132,079 shares of the stock with an approximate value of $1.88 million in TCDA stocks shares; and DEEP TRACK CAPITAL, LP, currently with $0.72 million in TCDA stock with ownership of nearly 2.994% of the company’s market capitalization.

Positions in Tricida Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 74 institutional holders increased their position in Tricida Inc. [NASDAQ:TCDA] by around 8,245,726 shares. Additionally, 47 investors decreased positions by around 6,633,839 shares, while 17 investors held positions by with 29,642,859 shares. The mentioned changes placed institutional holdings at 44,522,424 shares, according to the latest SEC report filing. TCDA stock had 32 new institutional investments in for a total of 1,537,988 shares, while 17 institutional investors sold positions of 2,343,755 shares during the same period.


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