TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) Major Shareholder Opaleye Management Inc. Purchases 841,989 Shares

TRACON Pharmaceuticals, Inc. (NASDAQ:TCON – Get Rating) major shareholder Opaleye Management Inc. acquired 841,989 shares of the company’s stock in a transaction that occurred on Tuesday, June 21st. The shares were acquired at an average cost of $1.31 per share, with a total value of $1,103,005.59. Following the purchase, the insider now directly 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. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

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

TRACON Pharmaceuticals stock traded up $0.05 during midday trading on Thursday, reaching $1.39. The stock had a trading volume of 76,141 shares, compared to its average volume of 106,104. TRACON Pharmaceuticals, Inc. has a 52-week low of $1.24 and a 52-week high of $7.23. The firm has a market cap of $27.91 million, a price-to-earnings ratio of -0.76 and a beta of 1.83. The company has a fifty day moving average of $1.80 and a 200 day moving average of $2.31.

TRACON Pharmaceuticals (NASDAQ:TCON – Get Rating) last issued its earnings results on Wednesday, May 11th. The biopharmaceutical company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.07). During the same period last year, the firm earned ($0.33) EPS. On average, equities analysts forecast that TRACON Pharmaceuticals, Inc. will post -1.24 EPS for the current fiscal year.

Separately, StockNews.com assumed coverage on shares of TRACON Pharmaceuticals in a report on Sunday. They issued a “sell” rating for the company.

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

About TRACON Pharmaceuticals (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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