TRACON Pharmaceuticals (NASDAQ:TCON) Shares Cross Below 200 Day Moving Average – Here’s What Happened

TRACON Pharmaceuticals, Inc. (NASDAQ:TCON)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.30 and traded as low as $0.07. TRACON Pharmaceuticals shares last traded at $0.07, with a volume of 19,562 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TCON. StockNews.com started coverage on TRACON Pharmaceuticals in a research report on Saturday. They issued a “hold” rating for the company. HC Wainwright restated a “neutral” rating on shares of TRACON Pharmaceuticals in a report on Monday, July 1st.

TRACON Pharmaceuticals Stock Performance

The firm’s 50 day moving average is $0.11 and its 200 day moving average is $1.25. The stock has a market cap of $250,635.00, a P/E ratio of 0.02 and a beta of 1.36.

TRACON Pharmaceuticals (NASDAQ:TCON) last announced its quarterly earnings data on Tuesday, August 13th. The biopharmaceutical company reported ($0.94) earnings per share for the quarter. The firm had revenue of $0.06 million for the quarter.

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.