Tracon Pharmaceuticals Inc. (NASDAQ:TCON) major shareholder Peter W. Sonsini purchased 869,565 shares of the firm’s stock in a transaction that occurred on Tuesday, November 29th. The stock was acquired at an average price of $5.75 per share, for a total transaction of $4,999,998.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Tracon Pharmaceuticals Inc. (NASDAQ:TCON) opened at 5.75 on Thursday. The firm’s market capitalization is $75.12 million. Tracon Pharmaceuticals Inc. has a 1-year low of $4.00 and a 1-year high of $12.50. The company has a 50 day moving average of $5.98 and a 200 day moving average of $5.85.

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A number of institutional investors have recently modified their holdings of the stock. ClariVest Asset Management LLC boosted its position in shares of Tracon Pharmaceuticals by 1.4% in the third quarter. ClariVest Asset Management LLC now owns 57,300 shares of the biopharmaceutical company’s stock valued at $387,000 after buying an additional 800 shares during the period. Stifel Financial Corp bought a new position in shares of Tracon Pharmaceuticals during the second quarter valued at $144,000. Finally, Vanguard Group Inc. boosted its position in shares of Tracon Pharmaceuticals by 1.7% in the second quarter. Vanguard Group Inc. now owns 190,600 shares of the biopharmaceutical company’s stock valued at $835,000 after buying an additional 3,118 shares during the period. Institutional investors and hedge funds own 27.87% of the company’s stock.

Several research firms recently commented on TCON. Stifel Nicolaus restated a “buy” rating and issued a $14.00 price target on shares of Tracon Pharmaceuticals in a research note on Wednesday, October 5th. BTIG Research began coverage on shares of Tracon Pharmaceuticals in a research note on Friday, August 19th. They issued a “buy” rating and a $15.00 price target on the stock.

Tracon Pharmaceuticals Company Profile

TRACON Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics for cancer, wet age-related macular degeneration (wet AMD) and fibrotic diseases. The Company’s research focuses on antibodies that bind to the endoglin receptor, which is essential to angiogenesis (the process of new blood vessel formation) and a contributor to fibrosis (tissue scarring).

5 Day Chart for NASDAQ:TCON

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