Insider buy: TRACON Pharmaceuticals, Inc. (NASDAQ: TCON) Major shareholder buys $13,008.47 worth of stock


TRACON Pharmaceuticals, Inc. (NASDAQ: TCONGet a rating) majority shareholder Opaleye Management Inc. acquired 7,187 shares of the company in a transaction on Thursday, July 14. The shares were purchased at an average cost of $1.81 per share, with a total value of $13,008.47. Following the completion of the transaction, the insider now owns 355,920 shares of the company, valued at $644,215.20. The acquisition was disclosed in an SEC filing, available at the SEC website. Major shareholders who own more than 10% of a company’s stock are required to disclose their sales and purchases to the SEC.

Opaleye Management Inc. has also recently made the following trade(s):

  • On Friday, June 24, Opaleye Management Inc. acquired 11,419 shares of TRACON Pharmaceuticals. The shares were acquired at an average price of $1.39 per share, for a total transaction of $15,872.41.
  • On Tuesday, June 21, Opaleye Management Inc. purchased 841,989 shares of TRACON Pharmaceuticals. The shares were purchased at an average price of $1.31 per share, for a total transaction of $1,103,005.59.
  • On Tuesday, May 10, Opaleye Management Inc. acquired 9,700 shares of TRACON Pharmaceuticals. The shares were purchased at an average price of $1.76 per share, for a total transaction of $17,072.00.
  • On Monday, April 25, Opaleye Management Inc. purchased 10,777 shares of TRACON Pharmaceuticals. The shares were acquired at an average price of $2.18 per share, with a total value of $23,493.86.
  • On Friday, April 22, Opaleye Management Inc. acquired 42,000 shares of TRACON Pharmaceuticals. The shares were purchased at an average cost of $2.24 per share, with a total value of $94,080.00.

TRACON Pharmaceuticals is trading down 1.6%

Stock of TRACON Pharmaceuticals opened at $1.79 on Friday. The company has a market capitalization of $36.25 million, a P/E ratio of -0.97 and a beta of 1.61. The company’s fifty-day simple moving average is $1.71 and its 200-day simple moving average is $2.21. TRACON Pharmaceuticals, Inc. has a 1-year low of $1.24 and a 1-year high of $5.99.

TRACON Pharmaceuticals (NASDAQ: TCONGet a rating) last announced its results on Wednesday, May 11. The biopharmaceutical company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.07). During the same period of the previous year, the company posted EPS ($0.33). On average, stock research analysts expect TRACON Pharmaceuticals, Inc. to post -1.24 earnings per share for the current year.

TRACON Pharmaceuticals Institutional Trading

Several hedge funds and other institutional investors have been buying and selling stocks recently. Jane Street Group LLC acquired a new stake in TRACON Pharmaceuticals in Q1 valued at $27,000. Bank of New York Mellon Corp increased its position in TRACON Pharmaceuticals by 67.2% in Q1. Bank of New York Mellon Corp now owns 142,253 shares of the biopharmaceutical company worth $374,000 after buying an additional 57,174 shares in the last quarter. Opaleye Management Inc. increased its position in TRACON Pharmaceuticals shares by 21.3% during the 4th quarter. Opaleye Management Inc. now owns 3,055,000 shares of the biopharmaceutical company valued at $8,462,000 after acquiring an additional 536,629 shares last quarter. Acadian Asset Management LLC increased its position in TRACON Pharmaceuticals shares by 45.8% during the 4th quarter. Acadian Asset Management LLC now owns 20,523 shares of the biopharmaceutical company valued at $55,000 after acquiring an additional 6,451 shares last quarter. Finally, Dowling & Yahnke LLC increased its position in TRACON Pharmaceuticals shares by 17.3% during the 4th quarter. Dowling & Yahnke LLC now owns 47,455 shares of the biopharmaceutical company valued at $131,000 after acquiring an additional 7,000 shares last quarter. 51.35% of the shares are currently held by institutional investors and hedge funds.

Analysts set new price targets

Separately, StockNews.com began covering shares of TRACON Pharmaceuticals in a research report on Wednesday. They issued a “sell” rating for the company.

TRACON Pharmaceuticals Company Profile

(Get a rating)

TRACON Pharmaceuticals, Inc, a biopharmaceutical company, is focused on the development and commercialization of cancer treatments in the United States. Its clinical-stage products include envafolimab (KN035), a PD-L1 single-domain antibody for the treatment of soft tissue sarcoma; and YH001, an investigational humanized CTLA-4 IgG1 monoclonal antibody for the treatment of various cancer indications.

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Insider buying and selling by quarter for TRACON Pharmaceuticals (NASDAQ:TCON)



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