TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) Short Interest Up 39.6% in June

TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 166,100 shares, an increase of 39.6% from the May 31st total of 119,000 shares. Based on an average trading volume of 220,600 shares, the days-to-cover ratio is presently 0.8 days. Approximately 6.6% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TCON. HC Wainwright reduced their target price on TRACON Pharmaceuticals from $120.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. StockNews.com cut TRACON Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday.

TRACON Pharmaceuticals Price Performance

Shares of TCON opened at $1.60 on Monday. The business’s fifty day moving average price is $1.50 and its 200 day moving average price is $3.42. TRACON Pharmaceuticals has a 12-month low of $0.66 and a 12-month high of $14.75. The stock has a market capitalization of $4.29 million, a PE ratio of 0.46 and a beta of 1.28.

TRACON Pharmaceuticals (NASDAQ:TCON) last posted its earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.13). The business had revenue of $0.10 million during the quarter. During the same period in the previous year, the business earned ($7.20) EPS. As a group, research analysts anticipate that TRACON Pharmaceuticals will post -4 earnings per share for the current fiscal year.

TRACON Pharmaceuticals Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 28th will be paid a dividend of $0.045 per share. This represents a dividend yield of 40.3%. The ex-dividend date is Thursday, June 27th.

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.