Equities research analysts at StockNews.com initiated coverage on shares of TRACON Pharmaceuticals (NASDAQ:TCON – Get Free Report) in a research note issued on Sunday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.
Separately, HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of TRACON Pharmaceuticals in a report on Monday, November 20th.
TRACON Pharmaceuticals Price Performance
Institutional Trading of TRACON Pharmaceuticals
A number of institutional investors have recently modified their holdings of TCON. Millennium Management LLC purchased a new stake in shares of TRACON Pharmaceuticals during the 2nd quarter worth about $150,000. Renaissance Technologies LLC grew its holdings in shares of TRACON Pharmaceuticals by 98.9% during the 4th 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 during the period. CI Private Wealth LLC purchased a new stake in shares of TRACON Pharmaceuticals during the 4th quarter worth about $86,000. Bank of New York Mellon Corp grew its holdings in shares of TRACON Pharmaceuticals by 67.2% during the 1st 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 during the period. Finally, Virtu Financial LLC acquired a new position in TRACON Pharmaceuticals during the 4th quarter worth approximately $67,000. Hedge funds and other institutional investors own 40.17% of the company’s stock.
About TRACON Pharmaceuticals
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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