The stock price of TRACON Pharmaceuticals Inc (NASDAQ: TCON) has plunged by -14.10 when compared to previous closing price of 0.26, but the company has seen a -46.68% decline in its stock price over the last five trading sessions. GlobeNewsWire reported 2024-02-28 that SAN DIEGO, Feb. 28, 2024 (GLOBE NEWSWIRE) — TRACON Pharmaceuticals, Inc. (Nasdaq: TCON), a clinical stage biopharmaceutical company utilizing a cost-efficient, CRO-independent product development platform to advance its pipeline of novel targeted cancer therapeutics and to partner with other life science companies, announced today that it will report its fourth quarter and year-end 2023 financial and operating results after the close of U.S. financial markets on Tuesday, March 5, 2024. In addition, management will host a conference call to provide an update on corporate activities and discuss the financial results.
Is It Worth Investing in TRACON Pharmaceuticals Inc (NASDAQ: TCON) Right Now?
The stock has a 36-month beta value of 1.09. Opinions on the stock are mixed, with 1 analysts rating it as a “buy,” 3 as “overweight,” 1 as “hold,” and 0 as “sell.”
The public float for TCON is 40.26M, and at present, short sellers hold a 4.71% of that float. On April 08, 2024, the average trading volume of TCON was 3.38M shares.
TCON’s Market Performance
TCON stock saw a decrease of -46.68% in the past week, with a monthly decline of -5.68% and a quarterly a decrease of 26.03%. The volatility ratio for the week is 34.49%, and the volatility levels for the last 30 days are 31.29% for TRACON Pharmaceuticals Inc (TCON). The simple moving average for the last 20 days is -42.90% for TCON stock, with a simple moving average of -6.66% for the last 200 days.
Analysts’ Opinion of TCON
Many brokerage firms have already submitted their reports for TCON stocks, with BTIG Research repeating the rating for TCON by listing it as a “Buy.” The predicted price for TCON in the upcoming period, according to BTIG Research is $14 based on the research report published on April 16, 2021 of the previous year 2021.
Maxim Group, on the other hand, stated in their research note that they expect to see TCON reach a price target of $24. The rating they have provided for TCON stocks is “Buy” according to the report published on February 10th, 2021.
H.C. Wainwright gave a rating of “Buy” to TCON, setting the target price at $18 in the report published on December 23rd of the previous year.
TCON Trading at -18.45% from the 50-Day Moving Average
After a stumble in the market that brought TCON to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -89.75% of loss for the given period.
Volatility was left at 31.29%, however, over the last 30 days, the volatility rate increased by 34.49%, as shares sank -13.00% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +5.34% upper at present.
During the last 5 trading sessions, TCON fell by -47.75%, which changed the moving average for the period of 200-days by -51.17% in comparison to the 20-day moving average, which settled at $0.3824. In addition, TRACON Pharmaceuticals Inc saw 25.24% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at TCON starting from THEUER CHARLES, who purchase 47,000 shares at the price of $0.75 back on Apr 27 ’23. After this action, THEUER CHARLES now owns 399,417 shares of TRACON Pharmaceuticals Inc, valued at $35,250 using the latest closing price.
THEUER CHARLES, the President and CEO of TRACON Pharmaceuticals Inc, purchase 3,999 shares at $0.66 during a trade that took place back on Apr 26 ’23, which means that THEUER CHARLES is holding 352,417 shares at $2,639 based on the most recent closing price.
Stock Fundamentals for TCON
Current profitability levels for the company are sitting at:
- -0.77 for the present operating margin
- 1.0 for the gross margin
The net margin for TRACON Pharmaceuticals Inc stands at -0.5. The total capital return value is set at 120.43.
Based on TRACON Pharmaceuticals Inc (TCON), the company’s capital structure generated -0.41 points at debt to capital in total, while cash flow to debt ratio is standing at 15.58. The debt to equity ratio resting at -0.29. The interest coverage ratio of the stock is 1.85.
Currently, EBITDA for the company is -6.88 million with net debt to EBITDA at 0.85. When we switch over and look at the enterprise to sales, we see a ratio of 0.15. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.89.
Conclusion
To sum up, TRACON Pharmaceuticals Inc (TCON) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
