TRACON Pharmaceuticals Inc (NASDAQ:TCON) shares, rose in value, with the stock price down by -47.18% to the previous day’s close as strong demand from buyers drove the stock to $0.22.
Actively observing the price movement in the last trading, the stock closed the session at $0.42. The value of beta (5-year monthly) was 0.79. Referring to stock’s 52-week performance, its high was $2.14, and the low was $0.13. On the whole, TCON has fluctuated by 16.45% over the past month.
With the market capitalization of TRACON Pharmaceuticals Inc currently standing at about $9.99 million, investors are eagerly awaiting this quarter’s results, scheduled for May 08, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.06, which is expected to increase to -$0.05 for fiscal year -$0.23 and then to about -$0.07 by fiscal year 2025. Data indicates that the EPS growth is expected to be -109.10% in 2025, while the next year’s EPS growth is forecast to be 69.60%.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that TCON’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of TCON currently trading nearly -41.94% and -16.84% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.25, while the 7-day volatility ratio is showing 31.56% which for the 30-day chart, stands at 30.45%. Furthermore, TRACON Pharmaceuticals Inc (TCON)’s beta value is 1.04, and its average true range (ATR) is 0.08.
A comparison of TRACON Pharmaceuticals Inc (TCON) with its peers suggests the former has fared considerably weaker in the market. TCON showed an intraday change of -47.18% in last session, and over the past year, it shrunk by -88.39%%.
Data on historical trading for TRACON Pharmaceuticals Inc (NASDAQ:TCON) indicates that the trading volumes over the past 10 days have averaged 5.03 million and over the past 3 months, they’ve averaged 2.98 million. According to company’s latest data on outstanding shares, there are 44.27 million shares outstanding.
Nearly 11.53% of TRACON Pharmaceuticals Inc’s shares belong to company insiders and institutional investors own 11.23% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.9 million shares as on Mar 15, 2024, resulting in a short ratio of 0.38. According to the data, the short interest in TRACON Pharmaceuticals Inc (TCON) stood at 4.17% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 0.86 million. The stock has risen by 25.36% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the TCON stock heading into the next quarter.
