As of Friday close, TRACON Pharmaceuticals Inc.’s (NASDAQ:TCON) stock was up $0.03, moving up 12.20 percent to $0.23. The average number of shares traded per day over the past five days has been 784,760 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.0900 fall in that time frame. In the last twenty days, the average volume was 779,645, while in the previous 50 days, it was 525,068.
Since last month, TCON stock retreated -20.69%. Shares of the company fell to $0.1900 on 08/17/23, the lowest level in the past month. A 52-week high of $2.31 was reached on 03/29/23 after having rallying from a 52-week low of $0.19. Since the beginning of this year, TCON’s stock price has dropped by -84.56% or -$1.2600, and marked a new high 11 times. However, the stock has declined by -90.04% since its 52-week high.
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TCON stock investors should be aware that TRACON Pharmaceuticals Inc. (TCON) stock had its last reported insider trading activity 114 days ago on Apr 27. THEUER CHARLES, the President and CEO of the company, purchased of 47,000 shares for $0.75 on Apr 27. It resulted in a $35,250 investment by the insider. THEUER CHARLES added 3,999 shares at an average price of $0.66 on Apr 26. The insider now owns 352,417 shares following the transaction. On Mar 09, 10% Owner Opaleye Management Inc. bought 174,508 shares at $1.38 apiece. The transaction was valued at $240,821.
Financial Health
In the three months ended June 29, TRACON Pharmaceuticals Inc.’s quick ratio stood at 0.50, while its current ratio was 0.50, showing that the company is not able to pay off its debt. Based on annual data, TCON earned $27.89 million in gross profit.
TCON’s revenue rose 100.0% during the quarter, while net income inched up to $9.0 million. While analysts expected TRACON Pharmaceuticals Inc. to report -$0.1 quarterly earnings, the actual figure was $0.22 per share. During the quarter, the company generated $4.76 million in EBITDA. The liabilities of TRACON Pharmaceuticals Inc. were 27.93 million at the end of its most recent quarter ended June 29, and its total debt was $0.9 million. The value of shareholders’ equity is $30.7 million.
Technical Picture
This quick technical analysis looks at TRACON Pharmaceuticals Inc.’s (TCON) price momentum. With a historical volatility rate of 125.26%, the RSI 9-day stood at 30.47% on 18 August.
With respect to its five-day moving average, the current TRACON Pharmaceuticals Inc. price is down by -28.12% percent or -$0.0900. At present, TCON shares trade -19.78% below its 20-day simple moving average and -86.23% percent below its 100-day simple moving average. However, the stock is currently trading approximately -63.49% below its SMA50 and -85.44% below its SMA200.
Stochastic coefficient K was 8.85% and Stochastic coefficient D was 8.76%, while ATR was 0.0384. Given the Stochastic reading of 19.26% for the 14-day period, the RSI (14) reading has been calculated as 31.80%. As of today, the MACD Oscillator reading stands at -0.0558, while the 14-day reading stands at -0.0799.
Analyst Ratings
BTIG Research upgraded its rating on TRACON Pharmaceuticals Inc. (NASDAQ: TCON) to a Buy in a note to investors on April 16, 2021. The analysts firm previously had a Neutral rating on the stock.TRACON Pharmaceuticals Inc. (TCON) has been rated Buy by analysts. According to 0 brokerage firms, TCON is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate TRACON Pharmaceuticals Inc. stock as buy, with 3 recommending it as overweight.
With a median target price of $4.00, the current consensus forecast for the stock is $1.00 – $12.00. Based on these forecasts, analysts predict TRACON Pharmaceuticals Inc. (TCON) will achieve an average price target of $5.25.
