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

Equities research analysts at StockNews.com initiated coverage on shares of TRACON Pharmaceuticals (NASDAQ:TCONGet 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.

Read Our Latest Stock Report on TCON

TRACON Pharmaceuticals Price Performance

TCON opened at $0.20 on Friday. The stock has a market capitalization of $6.21 million, a price-to-earnings ratio of -0.34 and a beta of 0.85. The business has a 50-day moving average of $0.18 and a two-hundred day moving average of $0.20. TRACON Pharmaceuticals has a 12 month low of $0.13 and a 12 month high of $2.19.

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

(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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