Equities researchers at StockNews.com started coverage on shares of TRACON Pharmaceuticals (NASDAQ:TCON – Get Free Report) in a report released on Sunday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.
Separately, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of TRACON Pharmaceuticals in a research report on Monday, November 20th.
TRACON Pharmaceuticals Stock Performance
Hedge Funds Weigh In On TRACON Pharmaceuticals
Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC bought a new position in TRACON Pharmaceuticals in the second quarter worth $150,000. Renaissance Technologies LLC raised its holdings in TRACON Pharmaceuticals by 98.9% in the fourth quarter. Renaissance Technologies LLC now owns 135,049 shares of the biopharmaceutical company’s stock worth $201,000 after purchasing an additional 67,149 shares in the last quarter. CI Private Wealth LLC purchased a new stake in shares of TRACON Pharmaceuticals in the fourth quarter worth $86,000. Bank of New York Mellon Corp grew its stake in shares of TRACON Pharmaceuticals by 67.2% in the first quarter. Bank of New York Mellon Corp now owns 142,253 shares of the biopharmaceutical company’s stock worth $374,000 after acquiring an additional 57,174 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of TRACON Pharmaceuticals in the fourth quarter worth $67,000. Institutional investors own 40.17% of the company’s stock.
TRACON Pharmaceuticals Company Profile
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.
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