TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) Major Shareholder Opaleye Management Inc. Purchases 17,311 Shares

TRACON Pharmaceuticals, Inc. (NASDAQ:TCONGet Rating) major shareholder Opaleye Management Inc. purchased 17,311 shares of the firm’s stock in a transaction on Thursday, September 22nd. The shares were acquired at an average cost of $1.73 per share, for a total transaction of $29,948.03. Following the completion of the acquisition, the insider now owns 3,780,000 shares of the company’s stock, valued at $6,539,400. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large 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 Monday, September 19th, Opaleye Management Inc. purchased 5,000 shares of TRACON Pharmaceuticals stock. The shares were acquired at an average cost of $1.87 per share, for a total transaction of $9,350.00.
  • On Tuesday, July 26th, Opaleye Management Inc. purchased 2,254 shares of TRACON Pharmaceuticals stock. The shares were acquired at an average cost of $1.72 per share, for a total transaction of $3,876.88.
  • On Thursday, July 14th, Opaleye Management Inc. bought 7,187 shares of TRACON Pharmaceuticals stock. The stock was purchased at an average cost of $1.81 per share, for a total transaction of $13,008.47.
  • On Friday, June 24th, Opaleye Management Inc. bought 11,419 shares of TRACON Pharmaceuticals stock. The stock was purchased at an average cost of $1.39 per share, for a total transaction of $15,872.41.

TRACON Pharmaceuticals Trading Down 1.7 %

Shares of TCON stock traded down $0.03 during trading hours on Thursday, hitting $1.78. The stock had a trading volume of 136,142 shares, compared to its average volume of 91,209. TRACON Pharmaceuticals, Inc. has a one year low of $1.24 and a one year high of $4.49. The stock’s 50-day moving average price is $1.93 and its two-hundred day moving average price is $2.03.

TRACON Pharmaceuticals (NASDAQ:TCONGet Rating) last issued its earnings results on Wednesday, August 10th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.02). Equities research analysts predict that TRACON Pharmaceuticals, Inc. will post -0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On TRACON Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. Opaleye Management Inc. increased its stake in TRACON Pharmaceuticals by 30.8% during the second quarter. Opaleye Management Inc. now owns 4,125,322 shares of the biopharmaceutical company’s stock worth $8,251,000 after acquiring an additional 970,224 shares during the last quarter. Millennium Management LLC bought a new stake in TRACON Pharmaceuticals during the second quarter worth approximately $150,000. Renaissance Technologies LLC increased its stake in TRACON Pharmaceuticals by 80.1% during the second 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 during the last quarter. Jane Street Group LLC bought a new stake in TRACON Pharmaceuticals during the first quarter worth approximately $27,000. Finally, Bank of New York Mellon Corp increased its stake in 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 acquiring an additional 57,174 shares during the last quarter. 52.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on TRACON Pharmaceuticals in a report on Thursday, September 15th. They issued a “sell” rating on the stock.

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.

Further Reading

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

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