Short Interest in Tocagen Inc (TOCA) Decreases By 37.5%

Tocagen Inc (NASDAQ:TOCA) was the recipient of a significant decline in short interest during the month of October. As of October 13th, there was short interest totalling 490,006 shares, a decline of 37.5% from the September 29th total of 783,892 shares. Based on an average daily volume of 125,307 shares, the days-to-cover ratio is presently 3.9 days. Currently, 2.9% of the company’s stock are short sold.

Several hedge funds and other institutional investors have recently made changes to their positions in TOCA. TD Asset Management Inc. bought a new stake in shares of Tocagen in the 2nd quarter worth approximately $158,000. Schwab Charles Investment Management Inc. bought a new stake in shares of Tocagen in the 2nd quarter worth approximately $165,000. Alps Advisors Inc. bought a new stake in shares of Tocagen in the 2nd quarter worth approximately $215,000. Bank of New York Mellon Corp bought a new stake in shares of Tocagen in the 2nd quarter worth approximately $281,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Tocagen in the 2nd quarter worth approximately $837,000. 37.87% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently weighed in on TOCA. Zacks Investment Research upgraded Tocagen from a “sell” rating to a “hold” rating in a research note on Friday, September 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $24.00 price target on shares of Tocagen in a research report on Tuesday, July 25th.

Tocagen (NASDAQ:TOCA) last announced its quarterly earnings results on Wednesday, August 9th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.04). The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.01 million.

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Tocagen Company Profile

Tocagen Inc (Tocagen) is a clinical-stage, cancer-selective gene therapy company. The Company is focused on developing product candidates designed to activate a patient’s immune system against their own cancer. Its cancer-selective gene therapy platform is built on retroviral replicating vectors (RRVs), which are designed to selectively deliver therapeutic genes into the deoxyribonucleic acid (DNA) of cancer cells.

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