A Major Shareholder at TRACON Pharmaceuticals Inc (NASDAQ: TCON) is Selling Shares

Yesterday, a Major Shareholder at TRACON Pharmaceuticals Inc (NASDAQ: TCON), Jafco Super V3 Investment Limited Partnership, sold shares of TCON for $289.7k.

Over the last month, Jafco Super V3 Investment Limited Partnership has reported 7 Sell trades on TCON for a total of $2.36M. In addition to Jafco Super V3 Investment Limited Partnership, 3 other TCON executives reported Sell trades in the last month.

Based on Tracon Pharmaceutical`s latest earnings report from June 30, the company posted quarterly revenue of $4.2M and GAAP net loss of $2.92M. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $2.21M. The company has a one year high of $21 and a one year low of $9.02. TCON’s market cap is $154.6M and the company has a P/E ratio of 77.1%.

Based on 3 analyst ratings, the analyst consensus is Strong Buy with an average price target of $22.00, reflecting a -45.1% downside.

Looking at blogger coverage of TCON, there is a 100% Bearish tendency on the stock, in relation to a 75% average bullish tendency within the Healthcare sector.

Over the last 3 months, the insider sentiment on Tracon Pharmaceutical has been negative based on 49 corporate insider transactions. This sentiment is lower than the average sector sentiment of insiders.

TRACON Pharmaceuticals Inc is a clinical stage biopharmaceutical company. The Company is engaged in the development and commercialization of novel targeted therapeutics for cancer, age-related macular degeneration and fibrotic diseases.