The trading price of TRACON Pharmaceuticals Inc (NASDAQ:TCON) closed higher on Thursday, March 29, closing at $0.43, 4.80% higher than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $2.19 and a 52-week low of $0.13. Over the past month, the stock has gained 146.73% in value.
TRACON Pharmaceuticals Inc, whose market valuation is $19.56 million at the time of this writing, is expected to release its quarterly earnings report May 08, 2024 – May 13, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.06 per share this quarter, however they have predicted annual earnings per share of -$0.23 for 2024 and -$0.07 for 2025. It means analysts are expecting annual earnings per share growth of -109.10% this year and 69.60% next year.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of TRACON Pharmaceuticals Inc No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest TCON has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.
A quick review shows that TCON’s price is currently 25.28% off the SMA20 and 73.27% off the SMA50. The RSI metric on the 14-day chart is currently showing 59.75, and weekly volatility stands at 16.23%. When measured over the past 30 days, the indicator reaches 25.58%. TRACON Pharmaceuticals Inc (NASDAQ:TCON)’s beta value is currently sitting at 0.92, while the Average True Range indicator is currently displaying 0.07.
To see how TRACON Pharmaceuticals Inc stock has been performing in comparison to its peers in the industry, here are the numbers: TCON stock’s performance was 4.80% in the latest trading, and -76.25% in the past year.
An evaluation of the daily trading volume of TRACON Pharmaceuticals Inc (NASDAQ:TCON) indicates that the 3-month average is 2.93 million. However, this figure has increased over the past 10 days to an average of 5.34 million.
Currently, records show that 44.27 million of the company’s shares remain outstanding. The insiders hold 11.53% of outstanding shares, whereas institutions hold 11.23%. The stats also highlight that short interest as of Mar 15, 2024, stood at 1.9 million shares, resulting in a short ratio of 0.38 at that time. From this, we can conclude that short interest is 4.17% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 0.86 million. However, since the stock’s price has seen 145.46% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
