TRACON Pharmaceuticals, Inc. (TCON) is gaining in the market in today’s trading session. The stock, one that is focused on the biotechnology space, is currently priced at $1.55 after gaining 10.64% so far in today’s session. When it comes to biotechnology companies, there are quite a few factors that have the potential to cause price movement in the market.
While a move toward the top in a single session, like the move that we’re seeing from TRACON Pharmaceuticals, Inc. might lead to excitement in some investors, that alone should not be the basis of a decision to, or not to, invest in a stock. It is generally important to look at trends just a single trading session. In the case of TCON, below are the returns that we have seen:
- Weekly – Throughout the last 7 days, TCON has generated a price change that amounts to 2.94%.
- Monthly – The monthly returns from TRACON Pharmaceuticals, Inc. has been 35.92%.
- Past Three Months – Over the past three months, the stock has generated a return on investment of 27.27%
- Past Six Months – Throughout the last 6 months, investors have seen a change of -36.36% from the stock.
- YTD – Since the last trading session of last year, TCON has generated an ROI of 122.22%.
- Annually – Lastly, in the past year, we have seen the performance of -49.09% out of TCON. In this period of time, the stock has traded at a high price of -51.59% and a low price of 209.80%.
Digging into various key ratios associated with a stock generally gives traders an understanding of just how dangerous and/or potentially profitable a pick maybe. Below are some of the important ratios to think about when looking at TCON.
Short Ratio – The short ratio is a measure of short interest. The higher this ratio, the more investors have a belief that the stock is headed for declines. In general, biotech stocks can have a higher short ratio. However, we also see a lot of short squeezes in space. Nonetheless, as it relates to TRACON Pharmaceuticals, Inc., the stock’s short ratio comes to 0.99.
Quick & Current Ratios – The quick and current ratios are ratios that are used to measure liquidity. Essentially, they measure the company’s abilities to cover its debts as they mature with only current assets or quick assets. In the biotech industry, companies are heavily reliant on continued support from investors, the quick and current ratios can be upsetting. However, several good picks in the biotechnology space do have strong current and quick ratios. As it relates to TCON, the quick and current ratios add up to 3.00 and 3.00 respectively.