A Major Shareholder at Tracon Pharmaceutical (NASDAQ: TCON) is Buying Shares

By Carrie Williams

Today, a Major Shareholder at Tracon Pharmaceutical (NASDAQ: TCON), New Enterprise Associates 14, L.P., bought shares of TCON for $5M.

This recent transaction increases New Enterprise Associates 14, L.P.’s holding in the company by 46.05% to a total of $10.86 million.

The company has a one year high of $12.50 and a one year low of $4. Currently, Tracon Pharmaceutical has an average volume of 58.21K.

Starting in February 2015, TCON received 18 Buy ratings in a row. Five different firms, including BTIG and Citigroup, currently also have a Buy rating on the stock.

The insider sentiment on Tracon Pharmaceutical has been neutral according to 11 insider trades in the past three months. This sentiment is slightly lower than the average sentiment of company insiders in this sector.

Company insider trades are published daily on the SEC (Securities and Exchange Commission). DailyInsider’s proprietary algorithm analyzes these trades and selects the most attractive stocks based on influential insider trades each day. To subscribe to the DailyInsider visit this page.

TRACON Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which focuses on the development and commercialization of novel targeted therapeutics for cancer, age-related macular degeneration and fibrotic diseases. Its products include TRC105, is an anti-endoglin antibody that is being developed for the treatment of multiple solid tumor types, TRC205 an anti-endoglin antibody that is in preclinical development for the treatment of fibrotic diseases and TRC102, a small molecule that is in clinical development for the treatment of lung cancer and glioblastoma. The company was founded in October 2004 and is headquartered in San Diego, CA.