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

StockNews.com initiated coverage on shares of TRACON Pharmaceuticals (NASDAQ:TCONFree Report) in a research report sent to investors on Sunday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

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

Get Our Latest Report on TCON

TRACON Pharmaceuticals Price Performance

Shares of NASDAQ TCON opened at $0.19 on Friday. The firm has a fifty day moving average of $0.18 and a 200 day moving average of $0.20. TRACON Pharmaceuticals has a one year low of $0.13 and a one year high of $2.19.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TCON. Millennium Management LLC acquired a new position in TRACON Pharmaceuticals in the second quarter valued at about $150,000. Renaissance Technologies LLC lifted its position in shares of TRACON Pharmaceuticals by 98.9% during the fourth quarter. Renaissance Technologies LLC now owns 135,049 shares of the biopharmaceutical company’s stock worth $201,000 after purchasing an additional 67,149 shares in the last quarter. CI Private Wealth LLC acquired a new stake in shares of TRACON Pharmaceuticals during the fourth quarter worth about $86,000. Bank of New York Mellon Corp lifted its position in shares of TRACON Pharmaceuticals by 67.2% during the first quarter. Bank of New York Mellon Corp now owns 142,253 shares of the biopharmaceutical company’s stock worth $374,000 after purchasing an additional 57,174 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of TRACON Pharmaceuticals during the fourth quarter worth about $67,000. Institutional investors and hedge funds own 40.17% of the company’s stock.

TRACON Pharmaceuticals Company Profile

(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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