Shares last traded at $3.75 marginally over $3.55, the 50 day moving average and a tad above the 200 day moving average of $3.55. The 50 day moving average was up $0.20 or +5.53% whereas the 200 day moving average was up $0.20 or +5.53%. TRACON Pharmaceuticals, Inc. shares had a trading volume of 62K by the end of trading on Wednesday. Volume was up 7.58% over the stocks average daily volume.
Traders are more bearish on the company lately as indicated by the uptick in short interest. The firm saw a rise in short interest of 4.43% between August 15, 2017 and August 31, 2017. Short interest grew from 311,533 to 325,328 over that period. With short interest at 325,328 and short average daily volume at 108,575, days to cover is 3.0 and the percentage of shorted shares was 0.02% on August 31.
A few notable investment firms have updated their holdings. Ubs Group Ag grew its holdings by buying 3,793 shares an increase of 82.0%. Ubs Group Ag now holds 8,418 shares valued at $20,000. The total value of its holdings increased 17.6%. Alyeska Investment Group, L.p. downsized its ownership by selling 2,907 shares a decrease of 2.9% from 03/31/2017 to 06/30/2017. Alyeska Investment Group, L.p. claims 95,930 shares worth $230,000. The value of the position overall is down by 38.0%.
Kcg Holdings, Inc. bolstered its stake by buying 7,897 shares an increase of 70.6% as of 06/30/2017. Kcg Holdings, Inc. now controls 19,086 shares with a value of $46,000. The total value of its holdings increased 9.5%. As of the end of the quarter Tower Research Capital LLC (trc) had bought 406 shares growing its position 23.0%. The value in dollars decreased from $9,000 to $5,000 a change of 44.4% since the last quarter.
As of the last earnings report the EPS was $-1.75 and is projected to be $-1.57 for the current year with 16,655,000 shares outstanding. Next quarter’s EPS is expected be $-0.49 and the next full year EPS is projected to be $-1.83.
TRACON Pharmaceuticals, Inc., launched on October 28, 2004, is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics for cancer, wet age-related macular degeneration (wet AMD) and fibrotic diseases. The Business’s research focuses on antibodies that bind to the endoglin receptor, which is essential to angiogenesis (the process of new blood vessel formation) and a contributor to fibrosis (tissue scarring). The Business’s lead product candidate, TRC105, is an endoglin antibody that is being developed for the treatment of multiple solid tumor types in combination with inhibitors of the vascular endothelial growth factor (VEGF) pathway. TRC205 is being developed for the treatment of fibrotic disease. The Company is also developing TRC102, a small molecule that is in clinical development for the treatment of lung cancer and glioblastoma..