In last trading session, TRACON Pharmaceuticals Inc (NASDAQ:TCON) saw 2.3 million shares changing hands with its beta currently measuring 0.82. Company’s recent per share price level of $0.37 trading at -$0.02 or -4.49% at ring of the bell on the day assigns it a market valuation of $16.93M. That closing price of TCON’s stock is at a discount of -491.89% from its 52-week high price of $2.19 and is indicating a premium of 64.86% from its 52-week low price of $0.13. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 11.23 million shares which gives us an average trading volume of 3.30 million if we extend that period to 3-months.
TRACON Pharmaceuticals Inc (NASDAQ:TCON) trade information
Upright in the red during last session for losing -4.49%, in the last five days TCON remained trading in the red while hitting it’s week-highest on Thursday, 03/14/24 when the stock touched $0.37 price level, adding 40.32% to its value on the day. TRACON Pharmaceuticals Inc’s shares saw a change of 112.45% in year-to-date performance and have moved -41.05% in past 5-day. TRACON Pharmaceuticals Inc (NASDAQ:TCON) showed a performance of 99.89% in past 30-days. Number of shares sold short was 0.45 million shares which calculate 0.67 days to cover the short interests.
TRACON Pharmaceuticals Inc (TCON) estimates and forecasts
Statistics highlight that TRACON Pharmaceuticals Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company added 59.11% of value to its shares in past 6 months, showing an annual growth rate of -81.82% while that of industry is 12.50. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 83.30% in the current quarter and calculating 75.00% increase in the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 61.51% during past 5 years.
TCON Dividends
TRACON Pharmaceuticals Inc is more likely to be releasing its next quarterly report between May 08 and May 13 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
TRACON Pharmaceuticals Inc (NASDAQ:TCON)’s Major holders
Insiders are in possession of 5.00% of company’s total shares while institution are holding 11.87 percent of that, with stock having share float percentage of 12.50%. Investors also watch the number of corporate investors in a company very closely, which is 11.87% institutions for TRACON Pharmaceuticals Inc that are currently holding shares of the company. Opaleye Management Inc. is the top institutional holder at TCON for having 4.76 million shares of worth $1.39 million. And as of Jun 29, 2023, it was holding 15.52% of the company’s outstanding shares.
The second largest institutional holder is Ikarian Capital, LLC, which was holding about 2.77 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 9.01% of outstanding shares, having a total worth of $0.8 million.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 0.48 million shares of worth $0.14 million or 1.56% of the total outstanding shares. The later fund manager was in possession of 0.26 million shares on Jun 29, 2023, making its stake of worth around $76466.0 in the company or a holder of 0.86% of company’s stock.
