BlackRock Fund Advisors has recently announced that it has increased stake in TRACON Pharmaceuticals Inc (NASDAQ:TCON) by 0.04%. After grabbing 0.27 million shares, the institutional investor is now in possession of 102.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 0.86% having worth around $54903.0. Moreover, Geode Capital Management LLC increased its share by 57397.0 to have a control over 0.21 million shares.
TRACON Pharmaceuticals Inc (TCON) concluded trading on December 20, 2023 at a closing price of $0.19, with 38.87 million shares of worth about $7.39 million changed hands on the day. Currently the company’s common shares owned by public are about 31.14M shares, out of which, 26.47M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 10 times over the past 12 months. They bought 240,807 shares in 7 of the transactions. In 3 selling transactions, insiders dumped 4,764,128 shares.
Vanguard Extended Market Index Fu, Vanguard Total Stock Market ETF, and Fidelity Extended Market Index Fu are the top 3 mutual funds which are holding stakes in TRACON Pharmaceuticals Inc Vanguard Extended Market Index Fu is currently holding 0.26 million shares of worth totaling $53868.0. The company recently came buying 0.0 shares which brought its stake up to 0.84% of the company’s outstanding shares. Vanguard Total Stock Market ETF sold -0.11 million shares, after which its hold over company’s outstanding shares shrunk to 0.78%, leaving 0.24 million shares with the mutual fund that have a worth of about $49907.0. Fidelity Extended Market Index Fu, after selling 81640.0 shares, have now control over 0.26% of the stake in the company. It holds 58785.0 shares of worth $16736.0.
Stock saw a price change of 8.92% in past 5 days and over the past one month there was a price change of 8.36%. Year-to-date (YTD), TCON shares are showing a performance of -87.38% which decreased to -85.43% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.13 but also hit the highest price of $2.19 during that period. The average intraday trading volume for TRACON Pharmaceuticals Inc shares is 4.35 million. The stock is currently trading -2.08% below its 20-day simple moving average (SMA20), while that difference is up 6.00% for SMA50 and it goes to -66.98% lower than SMA200.
BlackRock Fund Advisors acquired 0.27 million shares of TRACON Pharmaceuticals Inc having value of about $54903.0. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 102.0 shares in the company valued at close to $19.38, or have control over 0.04% stake in the company. TRACON Pharmaceuticals Inc (NASDAQ: TCON) currently have 31.14M outstanding shares and institutions hold larger chunk of about 29.64% of that. Holding of mutual funds in the company is about 27.54% while other institutional holders and individual stake holders have control over 30.85% and 2.11% of the stake respectively.
The stock has a current market capitalization of $5.85M and its 3Y-monthly beta is at 0.98. It has posted earnings per share of -$0.58 in the same period. It has Quick Ratio of 0.71. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TCON, volatility over the week remained 14.12% while standing at 13.41% over the month.
Analysts are in expectations that TRACON Pharmaceuticals Inc (TCON) stock would likely to be making an EPS of -$0.08 in the current quarter, while forecast for next quarter EPS is $0 and it is -$0.4 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.11 which is -$0.03 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.31 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 59.95% while it is estimated to increase by 10.18% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BTIG Research on April 16, 2021 offering a Buy rating for the stock and assigned a target price of $14 to it.
