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Weak Fundamental Momentum Drags Tricida Inc. (TCDA) Lower

Tricida Inc. (NASDAQ:TCDA) has a beta value of 0.20 and has seen 28.67 million shares traded in the last trading session. The company, currently valued at $6.84M, closed the last trade at $0.11 per share which meant it lost -$0.01 on the day or -10.00% during that session. The TCDA stock price is -12490.91% off its 52-week high price of $13.85 and -9.09% below the 52-week low of $0.12. If we look at the company’s 10-day average daily trading volume, we find that it stood at 20.34 million shares traded. The 3-month trading volume is 15.23 million shares.

The consensus among analysts is that Tricida Inc. (TCDA) is an Underweight stock at the moment, with a recommendation rating of 3.50. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 2 out of 3 have rated it as a Hold, with 0 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.54.

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Tricida Inc. (NASDAQ:TCDA) trade information

Sporting -10.00% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the TCDA stock price touched $0.11 or saw a rise of 40.54%. Year-to-date, Tricida Inc. shares have moved -29.37%, while the 5-day performance has seen it change -27.27%. Over the past 30 days, the shares of Tricida Inc. (NASDAQ:TCDA) have changed -35.17%. Short interest in the company has seen 9.37 million shares shorted with days to cover at 7.53.

Wall Street analysts have a consensus price target for the stock at $20.00, which means that the shares’ value could jump 99.45% from current levels. The projected low price target is $20.00 while the price target rests at a high of $20.00. In that case, then, we find that the current price level is -18081.82% off the targeted high while a plunge would see the stock gain -18081.82% from current levels.

Tricida Inc. (TCDA) estimates and forecasts

Figures show that Tricida Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -98.81% over the past 6 months, with this year growth rate of 40.70%, compared to 11.30% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 31.60% and 42.40% for the next quarter.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -37.00% over the past 5 years.

TCDA Dividends

Tricida Inc. is expected to release its next earnings report between March 27 and March 31 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Tricida Inc. (NASDAQ:TCDA)’s Major holders

Insiders own 8.35% of the company shares, while shares held by institutions stand at 100.45% with a share float percentage of 109.60%. Investors are also buoyed by the number of investors in a company, with Tricida Inc. having a total of 168 institutions that hold shares in the company. The top two institutional holders are Orbimed Advisors LLC. with over 10.28 million shares worth more than $99.52 million. As of Jun 29, 2022, Orbimed Advisors LLC. held 18.47% of shares outstanding.

The other major institutional holder is VR Adviser, LLC, with the holding of over 7.13 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $69.04 million and represent 12.81% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. As of Jun 29, 2022, the former fund manager holds about 1.71% shares in the company for having 0.95 million shares of worth $9.22 million while later fund manager owns 0.72 million shares of worth $7.5 million as of Sep 29, 2022, which makes it owner of about 1.29% of company’s outstanding stock.

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