TRACON Pharmaceuticals Inc (NASDAQ: TCON) stock jumped 3.34% on Monday to $0.17 against a previous-day closing price of $0.17. With 17.18 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.4 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.2090 whereas the lowest price it dropped to was $0.1650. The 52-week range on TCON shows that it touched its highest point at $2.19 and its lowest point at $0.13 during that stretch. It currently has a 1-year price target of $4.00. Beta for the stock currently stands at 1.16.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TCON was down-trending over the past week, with a drop of -18.93%, but this was up by 10.65% over a month. Three-month performance dropped to -34.28% while six-month performance fell -71.08%. The stock lost -88.12% in the past year, while it has lost -88.36% so far this year. A look at the trailing 12-month EPS for TCON yields -0.58 with Next year EPS estimates of -0.50. For the next quarter, that number is -0.10. This implies an EPS growth rate of 59.95% for this year and 10.18% for next year.
Float and Shares Shorts:
At present, 31.14 million TCON shares are outstanding with a float of 26.41 million shares on hand for trading. On Oct 30, 2023, short shares totaled 1.31 million, which was 4.27% higher than short shares on Sep 28, 2023. In addition to TCOM as the firm’s Trip.com Group Limited, TCON serves as its TRACON Pharmaceuticals, Inc..
Through their ownership of 51.92% of TCON’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 31.30% of TCON, in contrast to 27.75% held by mutual funds. Shares owned by individuals account for 2.41%. As the largest shareholder in TCON with 15.52% of the stake, Opaleye Management, Inc. holds 4,764,508 shares worth 4,764,508. A second-largest stockholder of TCON, Ikarian Capital LLC, holds 2,765,530 shares, controlling over 9.01% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in TCON, holding 619,740 shares or 2.02% stake. With a 0.86% stake in TCON, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 262,772 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 0.79% of TCON stock, is the second-largest Mutual Fund holder. It holds 243,447 shares valued at 43334.0. Fidelity Extended Market Index Fu holds 0.46% of the stake in TCON, owning 140,425 shares worth 24996.0.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TCON since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TCON analysts setting a high price target of $7.00 and a low target of $1.00, the average target price over the next 12 months is $4.00. Based on these targets, TCON could surge 4017.65% to reach the target high and rise by 488.24% to reach the target low. Reaching the average price target will result in a growth of 2252.94% from current levels.
Summary of Insider Activity:
Insiders traded TCON stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 652,846 while 1,659 shares were sold.