TRACON Pharmaceuticals, Inc. (TCON) Stock: Seeing Declines In Today’s Session

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TRACON Pharmaceuticals, Inc. (TCON) is making a move down in the market in today’s trading session. The stock, focused on the biotechnology industry, is presently trading at $0.33 after tumbling -8.92% so far today. In terms of biotechnology stocks, there are quite a few factors that have the potential to cause movement in the market. One of the most common is news. Here are the most recent stories surrounding TCON:

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Oct-07-19 12:40PM TRACON Pharmaceuticals Announces that Scientific Advisor William Kaelin, Jr., M.D. was Awarded the 2019 Nobel Prize in Physiology or Medicine
Sep-03-19 08:05AM TRACON Pharmaceuticals to Present at the Rodman & Renshaw 21st Annual Global Investment Conference Sponsored by H.C. Wainwright
Aug-29-19 08:05AM TRACON Pharmaceuticals to Present at the 2019 Wells Fargo Securities Healthcare Conference
Aug-28-19 08:05AM TRACON Pharmaceuticals to Present at the RHK Capital 4th annual Disruptive Growth Conference hosted by Reed Smith
Aug-07-19 04:02PM TRACON Pharmaceuticals Reports Second Quarter 2019 Financial Results and Provides Corporate Update

However, when making an investing decision, prospective investors should look at much more than just news, this is especially the case in the generally speculative biotech sector. Here’s what’s happing when it comes to TRACON Pharmaceuticals, Inc..

Returns That TCON Investors Have Seen

Although a move toward the top in a single session, like the fall that we’re seeing from TRACON Pharmaceuticals, Inc. may make some investors upset, that by itself should not be the basis of a decision to, or not to, invest in a stock. It is always a good idea to look at trends experienced by the stock for a period longer than a single trading session. As it relates to TCON, below are the returns on investment that we have seen:

  • Past Seven Days – Throughout the past 5 trading sessions, TCON has generated a change in price in the amount of -19.05%.
  • Past Month – The performance from TRACON Pharmaceuticals, Inc. over the past month works out to -34.52%.
  • Past Three Months – Over the past three months, the stock has generated a ROI that works out to -43.71%
  • Past Six Months – In the previous six months, investors have seen a change of -74.54% from the company.
  • Year To Date – Since the the last trading session of last year TCON has resulted in a return on investment of -47.46%.
  • Full Year – Lastly, throughout the past year, we’ve seen a change in the amount of -82.30% from TCON. Over this period of time, the stock has traded at a high price of -83.11% and a low price of -8.08%.

Ratios To Watch

Digging into a few key ratios associated with a stock can give investors an understanding of just how risky and/or rewarding a stock pick might be. Below are some of the key ratios to look at when digging into TCON.

Short Ratio – The short ratio is a measure of short interest. As the short ratio heads up, it shows that more investors have a belief that the price of the stock is going to tumble. In general, biotech stocks tend to have a higher short ratio. However, we tend to see quite a few short squeezes in the sector. Nonetheless, as it relates to TRACON Pharmaceuticals, Inc., the stock’s short ratio comes to 6.98.

Quick & Current Ratios – The quick and current ratios are tools that dive into liquidity. Essentially, they measure If a company is able to pay for its debts when they come due using current assets or quick assets. In the biotech space, many companies rely heavily on the continuation of investor support, these ratios can seem bad. Nonetheless, several better companies in the biotechnology space come with good current and quick ratios. When it comes to TCON, the quick and current ratios total up to 1.90 and 1.90 respectively.  

Book To Share Value – The book to share value compares the current book value of assets currently owned by the company to the price of shares. In this particular case, that ratio is 0.30.

Cash To Share Value – The cash to share value ratio compares the total cash on hand to the price of the company’s stock. Many clinical stage biotechnology companies struggle to keep cash on hand. So, when investing in the biotechnology space, this is an important ratio to think about. In this case, the cash to share value comes to 0.85.

What Analysts Think About TRACON Pharmaceuticals, Inc.

Although it’s not a good idea to blindly follow the opinions of analysts, it is a smart idea to use their thoughts to validate your own opinions before making an investment decision in the biotech sector. Below you’ll find the recent moves that we have seen from analysts with regard to TCON.

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Mar-01-19 Reiterated Needham Buy $7
Jun-13-17 Reiterated Stifel Buy $14 → $6
Dec-21-16 Initiated Jefferies Buy $10
Feb-01-16 Resumed Oppenheimer Outperform
Jul-29-15 Initiated ROTH Capital Buy $18

Moves From Big Money Players

Humans that are into investing seem to be infatuated with the term “Smart money follows big money.” It makes sense. Big money became big money by making smart decisions in the market. So, by following the moves of big money institutions and insiders, we can get a glimpse of what market pros think about a stock. When it comes to big money interest in TCON, here’s what we’re seeing:

  • Institutional Investors – As it stands now, institutional investors hold 63.60% of TRACON Pharmaceuticals, Inc.. However, it is worth noting that the ownership held by institutions has seen a move in the amount of 0 over the last 3 months.
  • Investors On The Inside – as it relates to insiders, members of the management team and others close to TCON currently own 0.60% of the company. Insider ownership of the company has moved 37.08% over the past quarter.

What’s Going On With Share Counts?

Traders seem to have an interest in the total numbers of shares both available and outstanding. In regard to TRACON Pharmaceuticals, Inc., currently there are 30.81M and there is a float of 28.79M. These numbers mean that of the total of 30.81M shares of TCON currently in existence today, 28.79M are able to trade hands on the public market.

Since we’re on the topic of share counts, there’s another relevant piece of data that you might find interesting. That would be the short percentage of the float. Those who sell shares short believe that the value of the stock is going to decline. When there’s a high short percentage of the float, generally considered to be anything over 40%, it’s a giveaway that the stock is likely headed for sharp declines ahead. Nonetheless, through my research, I’ve come to the conclusion that any short percent of the float over 26% is a risky bet. When it comes to TCON, the short percent of the float is 2.33%.

Financial Results And Expectations

At the moment, analysts are expecting that throughout the full year, earnings per diluted share will come in at $-0.55. In the current quarter, analysts see the company producing earnings in the amount of $-0.21. Over the last 5 years, TCON has generated revenue in the amount of $0 with earnings coming in at -14.30%. On a quarter over quarter basis, earnings have seen movement of 35.60% and revenue has seen movement of 0.

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