StockNews.com Begins Coverage on TRACON Pharmaceuticals (NASDAQ:TCON)

Stock analysts at StockNews.com assumed coverage on shares of TRACON Pharmaceuticals (NASDAQ:TCONGet Free Report) in a report issued on Sunday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of TRACON Pharmaceuticals in a report on Monday, November 20th.

Check Out Our Latest Stock Report on TCON

TRACON Pharmaceuticals Trading Down 4.0 %

Shares of TCON stock opened at $0.19 on Friday. The business’s 50 day moving average is $0.18 and its two-hundred day moving average is $0.21. TRACON Pharmaceuticals has a twelve month low of $0.13 and a twelve month high of $2.19. The company has a market capitalization of $5.85 million, a P/E ratio of -0.32 and a beta of 0.85.

TRACON Pharmaceuticals (NASDAQ:TCONGet Free Report) last posted its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported $0.29 earnings per share for the quarter. As a group, equities analysts predict that TRACON Pharmaceuticals will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TRACON Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP acquired a new position in TRACON Pharmaceuticals in the first quarter valued at $79,000. Jane Street Group LLC acquired a new position in TRACON Pharmaceuticals in the first quarter valued at $32,000. Renaissance Technologies LLC increased its stake in TRACON Pharmaceuticals by 24.8% in the first quarter. Renaissance Technologies LLC now owns 168,600 shares of the biopharmaceutical company’s stock valued at $319,000 after purchasing an additional 33,551 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new position in TRACON Pharmaceuticals in the first quarter valued at $43,000. Finally, CI Private Wealth LLC purchased a new stake in TRACON Pharmaceuticals during the fourth quarter valued at about $86,000. 40.17% of the stock is currently owned by institutional investors and hedge funds.

About TRACON Pharmaceuticals

(Get Free Report)

TRACON Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel targeted therapeutics for cancer in the United States. Its clinical stage products include envafolimab (KN035), a PD-L1 single-domain antibody for the treatment of refractory soft tissue sarcoma; and YH001, an investigational humanized cytotoxic T-lymphocyte-associated protein 4 IgG1 monoclonal antibody that is in Phase I clinical trial for the treatment of various cancer indications.

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