TRACON Pharmaceuticals Inc. [NASDAQ: TCON] loss -1.53% on the last trading session, reaching $1.29 price per share at the time. The company report on December 14, 2022 that TRACON Pharmaceuticals Announces Positive Results Based on Double-Digit Objective Response Rate in Each Cohort from the Ongoing ENVASARC Phase 2 Pivotal Trial.
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Objective Response Rate (ORR) by Central Review Achieved in Each Cohort at Interim Efficacy Analysis that Exceeded the Futility Threshold.
Enrollment Continues Ahead of Schedule; Next Interim Analysis Expected in mid-2023 with Full Accrual Now Expected Before the End of 2023.
TRACON Pharmaceuticals Inc. represents 21.47 million in outstanding shares, while the company has a total market value of $29.32 million with the latest information. TCON stock price has been found in the range of $1.1006 to $1.61.
If compared to the average trading volume of 75.88K shares, TCON reached a trading volume of 3615498 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $8.40 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 1.60. 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.
BTIG Research have made an estimate for TRACON Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 16, 2021. While these analysts kept the previous recommendation, Maxim Group raised their target price to Buy. The new note on the price target was released on February 10, 2021, representing the official price target for TRACON Pharmaceuticals Inc. stock. Previously, the target price had yet another raise from $15 to $18, while H.C. Wainwright kept a Buy rating on TCON stock.
Trading performance analysis for TCON stock
TRACON Pharmaceuticals Inc. [TCON] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.51. With this latest performance, TCON shares dropped by -23.67% in over the last four-week period, additionally sinking by -3.73% over the last 6 months – not to mention a drop of -47.77% 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 31.18, with the RSI for the last a single of trading hit 25.63, and the three-weeks RSI is set at 34.61 for TRACON Pharmaceuticals Inc. [TCON]. The present Moving Average for the last 50 days of trading for this stock 1.5413, while it was recorded at 1.3120 for the last single week of trading, and 1.9011 for the last 200 days.
TRACON Pharmaceuticals Inc. [TCON]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and TRACON Pharmaceuticals Inc. [TCON] shares currently have an operating margin of -8192.77 and a Gross Margin at +95.95. TRACON Pharmaceuticals Inc.’s Net Margin is presently recorded at -8285.26.
Return on Equity for this stock declined to -155.86, with Return on Assets sitting at -89.59.
TRACON Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.50.
An analysis of insider ownership at TRACON Pharmaceuticals Inc. [TCON]
There are presently around $13 million, or 45.90% of TCON stock, in the hands of institutional investors. The top three institutional holders of TCON stocks are: OPALEYE MANAGEMENT INC. with ownership of 4,190,000, which is approximately 1.568% of the company’s market cap and around 1.50% of the total institutional ownership; IKARIAN CAPITAL, LLC, holding 2,765,530 shares of the stock with an approximate value of $3.57 million in TCON stocks shares; and VANGUARD GROUP INC, currently with $0.76 million in TCON stock with ownership of nearly 0% of the company’s market capitalization.
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 8 institutional holders increased their position in TRACON Pharmaceuticals Inc. [NASDAQ:TCON] by around 139,932 shares. Additionally, 9 investors decreased positions by around 149,146 shares, while 18 investors held positions by with 9,573,303 shares. The mentioned changes placed institutional holdings at 9,862,381 shares, according to the latest SEC report filing. TCON stock had 4 new institutional investments in for a total of 34,637 shares, while 2 institutional investors sold positions of 10,306 shares during the same period.