TRACON Pharmaceuticals Inc. (TCON) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on September 22. At the lunch break, shares of TCON have clocked gains of 3.19% to $6.14 after closing the day prior at $5.95. In the first two and a half hours of trading, the stock has gone as high as $6.31 and as low as $5.78. Today’s rise has come with about 9,647 shares changing hands, compared to an average 30-day volume of 21,266 for TRACON Pharmaceuticals Inc.. The price is currently below the 30-day volume weighted average price of $6.01 for TCON.
The share appreciation gives the company a market capitalization of $72.61 million based upon 12.2 million shares outstanding. It also means that TCON has a price-to-book ratio of 4.01:1.
In the past 52 weeks, shares of TCON have traded as low as $4.0 and as high as $13.606. Technical traders will take note that at $6.14, shares of TCON are trading below their 200-day MA at $6.77 and above their 50-day MA at $5.68. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is TCON?
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. The company’s 23 employees are led by CEO Charles P. Theuer from the corporate headquarters at 8910 University Center Lane in San Diego, CA.
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