Tricida, Inc. (NASDAQ:TCDA – Get Rating) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 10,820,000 shares, a decline of 22.7% from the November 30th total of 14,000,000 shares. Approximately 28.4% of the company's shares are short sold. Based on an average daily volume of 11,330,000 shares, the days-to-cover ratio is currently 1.0 days.
Tricida Stock Down 11.9 %
Shares of NASDAQ TCDA traded down $0.02 during trading hours on Friday, reaching $0.15. The stock had a trading volume of 3,212,580 shares, compared to its average volume of 6,092,721. Tricida has a fifty-two week low of $0.13 and a fifty-two week high of $13.85. The firm has a 50-day moving average of $0.25 and a 200-day moving average of $7.23.
Get Tricida alerts:Tricida (NASDAQ:TCDA – Get Rating) last announced its earnings results on Monday, November 14th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.54) by $0.10. Equities research analysts forecast that Tricida will post -1.88 earnings per share for the current year.
Insider Buying and Selling at Tricida
In other Tricida news, Director Orbimed Advisors Llc sold 3,629,226 shares of Tricida stock in a transaction on Friday, November 25th. The stock was sold at an average price of $0.22, for a total value of $798,429.72. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Orbimed Advisors Llc sold 3,629,226 shares of the business's stock in a transaction on Friday, November 25th. The stock was sold at an average price of $0.22, for a total value of $798,429.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Brian M. Isern sold 212,283 shares of the business's stock in a transaction on Wednesday, October 12th. The shares were sold at an average price of $12.53, for a total value of $2,659,905.99. Following the completion of the sale, the insider now owns 1,580,899 shares in the company, valued at approximately $19,808,664.47. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 859,708 shares of company stock worth $9,591,203 and have sold 8,482,094 shares worth $5,870,783. Company insiders own 35.60% of the company's stock.Institutional Trading of Tricida
Large investors have recently made changes to their positions in the company. VR Adviser LLC raised its stake in Tricida by 26.9% during the 3rd quarter. VR Adviser LLC now owns 9,050,064 shares of the company's stock valued at $94,845,000 after acquiring an additional 1,917,985 shares during the last quarter. BlackRock Inc. raised its stake in Tricida by 37.6% during the 3rd quarter. BlackRock Inc. now owns 3,698,400 shares of the company's stock valued at $38,759,000 after acquiring an additional 1,009,907 shares during the last quarter. Deep Track Capital LP raised its stake in Tricida by 13.6% during the 1st quarter. Deep Track Capital LP now owns 2,652,693 shares of the company's stock valued at $21,805,000 after acquiring an additional 317,550 shares during the last quarter. Frazier Life Sciences Management L.P. purchased a new stake in Tricida during the 1st quarter valued at approximately $17,115,000. Finally, Commodore Capital LP raised its stake in Tricida by 16.3% during the 2nd quarter. Commodore Capital LP now owns 2,028,453 shares of the company's stock valued at $19,635,000 after acquiring an additional 283,883 shares during the last quarter.
Analysts Set New Price Targets
Several research analysts recently commented on TCDA shares. Needham & Company LLC cut Tricida from a "buy" rating to a "hold" rating in a research note on Tuesday, October 25th. Cowen cut Tricida from an "outperform" rating to a "market perform" rating in a research note on Monday, October 24th. JPMorgan Chase & Co. cut Tricida from a "neutral" rating to an "underweight" rating in a research note on Tuesday, October 25th. Finally, Cowen cut Tricida to a "market perform" rating in a research report on Monday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $17.00.
About Tricida
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Tricida, Inc operates as a pharmaceutical company. It focuses on the development and commercialization of veverimer (TRC101), a non-absorbed orally-administered polymer that has completed Phase III trial to treat metabolic acidosis in patients with chronic kidney disease by binding and removing acid from the gastrointestinal track.
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