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

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

TRACON Pharmaceuticals Stock Performance

NASDAQ:TCON opened at $1.60 on Monday. The company has a market cap of $4.29 million, a PE ratio of 0.46 and a beta of 1.28. TRACON Pharmaceuticals has a 52-week low of $0.66 and a 52-week high of $14.75. The stock has a 50-day simple moving average of $1.50 and a 200 day simple moving average of $3.42.

TRACON Pharmaceuticals (NASDAQ:TCON) last posted its quarterly earnings data 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 company had revenue of $0.10 million during the quarter. During the same quarter in the prior year, the firm earned ($7.20) earnings per share. On average, research analysts predict that TRACON Pharmaceuticals will post -4 earnings per share for the current fiscal year.

TRACON Pharmaceuticals Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com lowered TRACON Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday. HC Wainwright lowered their price target on TRACON Pharmaceuticals from $120.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd.

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.