TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) Short Interest Update

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. HC Wainwright dropped their price objective on shares of TRACON Pharmaceuticals from $120.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. StockNews.com assumed coverage on shares of TRACON Pharmaceuticals in a research note on Tuesday, April 16th. They issued a “strong-buy” rating on the stock.

TRACON Pharmaceuticals Stock Up 1.1 %

Shares of NASDAQ:TCON traded up $0.02 during midday trading on Friday, hitting $1.81. The stock had a trading volume of 206,653 shares, compared to its average volume of 323,025. The stock has a 50 day moving average price of $5.01 and a two-hundred day moving average price of $4.08. TRACON Pharmaceuticals has a 1 year low of $1.59 and a 1 year high of $16.80.

TRACON Pharmaceuticals (NASDAQ:TCON) last issued its earnings results on Tuesday, March 5th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.80. The firm had revenue of $3.41 million during the quarter, compared to analysts’ expectations of $3.00 million. As a group, equities research analysts predict that TRACON Pharmaceuticals will post -4 earnings per share for the current year.

About TRACON Pharmaceuticals

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.