Saturday, June 25, 2022

Checking in on Tricida Inc. (TCDA) after recent insiders movement

Tricida Inc.’s recently made public that its 10% Owner Venrock Healthcare Capital Par acquired Company’s shares for reported $57665.0 on Jun 16. In the deal valued at $9.69 per share,5,951 shares were bought. As a result of this transaction, Venrock Healthcare Capital Par now holds 6,577,189 shares worth roughly $ 72.35 million.

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Then, Venrock Healthcare Capital Par bought 10,000 shares, generating $87,200 in total proceeds. Upon buying the shares at $8.72, the 10% Owner now owns 6,571,238 shares.

Before that, Venrock Healthcare Capital Par bought 50,000 shares. Tricida Inc. shares valued at $407,000 were divested by the 10% Owner at a price of $8.14 per share. As a result of the transaction, Venrock Healthcare Capital Par now holds 6,561,238 shares, worth roughly $72.17 million.

Taking this into account, Goldman initiated its Tricida Inc. [TCDA] rating to a Buy in a research note published on Tuesday, April 13, 2022; the price target was $25. PT values the company’s stock at a premium of 56.0 to its Tuesday closing price. A number of analysts have revised their coverage, including JP Morgan’s analysts, who increased its forecast for the stock in mid November from “an Underweight” to “a Neutral”. Goldman revised its rating on August 25, 2020. It rated TCDA as “a Neutral” which previously was an “a Buy”.

Price Performance Review of TCDA

On Tuesday, Tricida Inc. [NASDAQ:TCDA] saw its stock jump 7.11% to $11.00. On the same session, the stock had its day’s lowest price of $10.37, but rose to a high of $11.39. Over the last five days, the stock has gained 34.31%. Tricida Inc. shares have risen nearly 15.06% since the year began. Nevertheless, the stocks have risen 127.27% over the past one year. While a 52-week high of $12.45 was reached on 04/26/22, a 52-week low of $3.55 was recorded on 03/02/22. SMA at 50 days reached $9.44, while 200 days put it at $7.88. A total of 0.86 million shares were traded, compared to the trading of 0.32 million shares in the previous session.

Levels Of Support And Resistance For TCDA Stock

The 24-hour chart illustrates a support level at 10.45, which if violated will result in even more drops to 9.90. On the upside, there is a resistance level at 11.47. A further resistance level may holdings at 11.94. The Relative Strength Index (RSI) on the 14-day chart is 62.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.94, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 11.30%. Stochastics %K at 93.23% indicates the stock is a selling.

Tricida Inc. [TCDA] – Who Are The Largest Shareholders?

In filings from Deep Track Capital LP, it is revealed that the company now owns 2,652,693 shares, or roughly 4.79% of the outstanding TCDA shares. In other words, the investor’s shares have risen by 317,550 from its previous 13-F filing of 2335143.0. Additionally, Point72 Asset Management LP decreased -44.02% of its stake after which the total value it holdings stand at $15,305,443, while Lion Point Capital LP reduced 0.00% of its stake to hold $15.23 million in the firm. Over the last quarter, Commodore Capital LP purchased 497,527 shares of Tricida Inc., while Baker Bros. Advisors LP bought 446,700 shares. At present, Stonehill Capital Management LLC is holding 1,463,846 shares valued at $12.21 million. The Vanguard Group, Inc. owned 1,420,633 shares of the company at the time of its most recent 13F filing, worth $11.85 million.

According to FactSet, Tricida Inc.’s share price will average $15.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 65.53 percent from its previous closing price of $10.27. Analysts expect Tricida Inc. stock to reach the higher price of $20.00, while the lowest price estimate is $8.00. However, 4 analysts have rated TCDA stock as an Overweight in their predictions for 2022. The most recent change occurred on June 27, 2019 when Goldman began covering the stock and recommended ‘”a Buy”‘ rating along with a $48 price target.

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