Monitoring Tricida Inc. (TCDA) after recent insider movements


Tricida Inc.’s recent filing unveils that its 10% Owner Venrock Healthcare Capital Par unloaded Company’s shares for reported $1.09 million on Oct 26. In the deal valued at $0.46 per share,2,367,174 shares were sold. As a result of this transaction, Venrock Healthcare Capital Par now holds 3,751,406 shares worth roughly $ 1.05 million.

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Then, Venrock Healthcare Capital Par sold 1,970,418 shares, generating $1,123,138 in total proceeds. Upon selling the shares at $0.57, the 10% Owner now owns 6,118,580 shares.

Before that, Venrock Healthcare Capital Par sold 2,113,948 shares. Tricida Inc. shares valued at $1,289,508 were divested by the 10% Owner at a price of $0.61 per share. As a result of the transaction, Venrock Healthcare Capital Par now holds 8,088,998 shares, worth roughly $2.26 million.

Goldman initiated its Tricida Inc. [TCDA] rating to a Buy in a research note published on Friday, April 13, 2022; the price target was $25. PT values the company’s stock at a premium of 98.88 to its Friday 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 Friday, Tricida Inc. [NASDAQ:TCDA] saw its stock jump 2.71% to $0.28. On the same session, the stock had its day’s lowest price of $0.2555, but rose to a high of $0.3032. Over the last five days, the stock has lost -26.74%. Tricida Inc. shares have fallen nearly -97.06% since the year began. Nevertheless, the stocks have fallen -94.72% over the past one year. While a 52-week high of $13.85 was reached on 08/24/22, a 52-week low of $0.25 was recorded on 11/03/22. SMA at 50 days reached $8.9935, while 200 days put it at $9.5635. A total of 18.49 million shares were traded, compared to the trading of 17.02 million shares in the previous session.

Levels Of Support And Resistance For TCDA Stock

The 24-hour chart illustrates a support level at 0.2563, which if violated will result in even more drops to 0.2321. On the upside, there is a resistance level at 0.3040. A further resistance level may holdings at 0.3275. The Relative Strength Index (RSI) on the 14-day chart is 19.15, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.1616, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 99.79%. Stochastics %K at 0.13% indicates the stock is a buying.

How much short interest is there in Tricida Inc.?

A steep rise in short interest was recorded in Tricida Inc. stocks on Jul 14, 2022, growing by 0.23 million shares to a total of 4.38 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 4.15 million shares. There was a rise of 5.25%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 14.12% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.98.

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

In filings from Citadel Advisors LLC, it is revealed that the company now owns 3,407,597 shares, or roughly 6.12% of the outstanding TCDA shares. In other words, the investor’s shares have risen by 3,385,105 from its previous 13-F filing of 22492.0. Additionally, Deep Track Capital LP increased 2.99% of its stake after which the total value it holdings stand at $28,632,586, while BlackRock Fund Advisors added 170.05% of its stake to hold $25.02 million in the firm. Over the last quarter, Commodore Capital LP purchased 283,883 shares of Tricida Inc., while Lion Point Capital LP bought 0 shares. At present, The Vanguard Group, Inc. is holding 1,547,870 shares valued at $16.22 million. Baker Bros. Advisors LP owned 1,503,090 shares of the company at the time of its most recent 13F filing, worth $15.75 million.

According to FactSet, Tricida Inc.’s share price will average $19.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 6937.04 percent from its previous closing price of $0.27. Analysts expect Tricida Inc. stock to reach the higher price of $20.00, while the lowest price estimate is $18.00. However, 3 analysts have rated TCDA stock as an Underweight 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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