Short Interest in TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) Drops By 96.7%

TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 24,400 shares, a decrease of 96.7% from the March 31st total of 744,900 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily volume of 229,700 shares, the days-to-cover ratio is presently 0.1 days.

TRACON Pharmaceuticals Price Performance

NASDAQ TCON traded up $0.02 on Friday, reaching $1.81. The company’s stock had a trading volume of 206,653 shares, compared to its average volume of 323,025. TRACON Pharmaceuticals has a twelve month low of $1.59 and a twelve month high of $16.80. The firm’s 50 day moving average is $5.01 and its two-hundred day moving average is $4.08.

TRACON Pharmaceuticals (NASDAQ:TCON) last posted its quarterly earnings data on Tuesday, March 5th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.80. The firm had revenue of $3.41 million for the quarter, compared to analysts’ expectations of $3.00 million. As a group, analysts expect that TRACON Pharmaceuticals will post -4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TCON has been the subject of several research analyst reports. HC Wainwright reduced their price objective on shares of TRACON Pharmaceuticals from $120.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. StockNews.com began coverage on shares of TRACON Pharmaceuticals in a report on Tuesday, April 16th. They issued a “strong-buy” rating for the company.

TRACON Pharmaceuticals Company Profile

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.