TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) Major Shareholder Buys $1,103,005.59 in Stock

TRACON Pharmaceuticals, Inc. (NASDAQ:TCONGet Rating) major shareholder Opaleye Management Inc. bought 841,989 shares of TRACON Pharmaceuticals stock in a transaction on Tuesday, June 21st. The shares were bought at an average price of $1.31 per share, for a total transaction of $1,103,005.59. Following the acquisition, the insider now owns 3,776,589 shares of the company’s stock, valued at approximately $4,947,331.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

  • On Tuesday, May 10th, Opaleye Management Inc. acquired 9,700 shares of TRACON Pharmaceuticals stock. The shares were acquired at an average price of $1.76 per share, for a total transaction of $17,072.00.
  • On Monday, April 25th, Opaleye Management Inc. bought 10,777 shares of TRACON Pharmaceuticals stock. The shares were acquired at an average price of $2.18 per share, with a total value of $23,493.86.
  • On Friday, April 22nd, Opaleye Management Inc. purchased 42,000 shares of TRACON Pharmaceuticals stock. The stock was purchased at an average price of $2.24 per share, with a total value of $94,080.00.
  • On Wednesday, April 13th, Opaleye Management Inc. purchased 7,345 shares of TRACON Pharmaceuticals stock. The shares were acquired at an average cost of $2.50 per share, with a total value of $18,362.50.
  • On Monday, April 11th, Opaleye Management Inc. purchased 9,100 shares of TRACON Pharmaceuticals stock. The stock was bought at an average cost of $2.42 per share, with a total value of $22,022.00.

NASDAQ:TCON traded up $0.05 on Thursday, hitting $1.39. The stock had a trading volume of 76,141 shares, compared to its average volume of 106,104. The business’s fifty day moving average is $1.80 and its 200 day moving average is $2.31. The company has a market cap of $27.91 million, a PE ratio of -0.76 and a beta of 1.83. TRACON Pharmaceuticals, Inc. has a 52 week low of $1.24 and a 52 week high of $7.23.

TRACON Pharmaceuticals (NASDAQ:TCONGet Rating) last announced its quarterly earnings results on Wednesday, May 11th. The biopharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.07). During the same period last year, the company posted ($0.33) earnings per share. As a group, analysts anticipate that TRACON Pharmaceuticals, Inc. will post -1.24 EPS for the current year.

Separately, StockNews.com initiated coverage on TRACON Pharmaceuticals in a research report on Sunday. They set a “sell” rating on the stock.

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in shares of TRACON Pharmaceuticals in the first quarter worth approximately $27,000. Cutler Group LP raised its stake in shares of TRACON Pharmaceuticals by 1,250.0% in the fourth quarter. Cutler Group LP now owns 16,200 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 15,000 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of TRACON Pharmaceuticals by 45.8% in the fourth quarter. Acadian Asset Management LLC now owns 20,523 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 6,451 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of TRACON Pharmaceuticals in the third quarter worth approximately $169,000. Finally, Dowling & Yahnke LLC raised its stake in shares of TRACON Pharmaceuticals by 17.3% in the fourth quarter. Dowling & Yahnke LLC now owns 47,455 shares of the biopharmaceutical company’s stock worth $131,000 after purchasing an additional 7,000 shares during the last quarter. 51.35% of the stock is owned by hedge funds and other institutional investors.

TRACON Pharmaceuticals Company Profile (Get Rating)

TRACON Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for cancer in the United States. Its clinical stage products include envafolimab (KN035), a PD-L1 single-domain antibody for the treatment of soft tissue sarcoma; and YH001, an investigational humanized CTLA-4 IgG1 monoclonal antibody for the treatment of various cancer indications.

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Insider Buying and Selling by Quarter for TRACON Pharmaceuticals (NASDAQ:TCON)

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