TRACON Pharmaceuticals (NASDAQ:TCON) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of TRACON Pharmaceuticals (NASDAQ:TCON – Get Rating) in a research note issued to investors on Thursday. The firm issued a hold rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued reports about the company. Robert W. Baird lowered their target price on TRACON Pharmaceuticals from $10.00 to $8.00 in a research report on Thursday, December 15th. HC Wainwright restated a buy rating and issued a $12.00 target price on shares of TRACON Pharmaceuticals in a research report on Thursday, March 9th.

TRACON Pharmaceuticals Stock Performance

TCON opened at $1.55 on Thursday. TRACON Pharmaceuticals has a 12 month low of $1.10 and a 12 month high of $2.90. The stock’s 50 day moving average price is $1.63 and its 200 day moving average price is $1.61.

Insider Activity

In other news, major shareholder Opaleye Management Inc. purchased 174,508 shares of the stock in a transaction dated Thursday, March 9th. The shares were bought at an average cost of $1.38 per share, for a total transaction of $240,821.04. Following the transaction, the insider now owns 4,324,508 shares in the company, valued at $5,967,821.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have bought 181,508 shares of company stock worth $252,141. 3.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On TRACON Pharmaceuticals

Large investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in shares of TRACON Pharmaceuticals during the 1st quarter worth $27,000. Virtu Financial LLC bought a new stake in shares of TRACON Pharmaceuticals during the 4th quarter worth $67,000. CI Private Wealth LLC bought a new stake in shares of TRACON Pharmaceuticals during the 4th quarter worth $86,000. Renaissance Technologies LLC boosted its stake in shares of TRACON Pharmaceuticals by 80.1% during the 2nd quarter. Renaissance Technologies LLC now owns 52,600 shares of the biopharmaceutical company’s stock worth $105,000 after acquiring an additional 23,400 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in shares of TRACON Pharmaceuticals during the 2nd quarter worth $150,000. 46.04% of the stock is owned by institutional investors.

About TRACON Pharmaceuticals

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TRACON Pharmaceuticals, Inc engages in the development and commercialization of targeted therapies for cancer, and ophthalmic and fibrotic diseases. Its products include TRC105, an anti-endoglin antibody for the treatment of solid tumor types, TRC205 created for the treatment of fibrotic diseases, and TRC102, a small molecule that is in clinical development made for lung cancer and glioblastoma.