Tricida Inc (NASDAQ:TCDA)’s share price traded down 9% during trading on Thursday following insider selling activity. The company traded as low as $36.77 and last traded at $39.79, 1,611,900 shares changed hands during mid-day trading. An increase of 475% from the average session volume of 280,359 shares. The stock had previously closed at $43.71.
Specifically, CEO Gerrit Klaerner sold 3,948 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $43.28, for a total transaction of $170,869.44. Following the sale, the chief executive officer now owns 582,893 shares of the company’s stock, valued at approximately $25,227,609.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sandra I. Coufal sold 713 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $43.28, for a total transaction of $30,858.64. Following the sale, the director now directly owns 216,939 shares in the company, valued at approximately $9,389,119.92. The disclosure for this sale can be found here. Insiders have sold a total of 673,283 shares of company stock valued at $26,589,220 over the last three months. 66.70% of the stock is currently owned by insiders.
A number of equities research analysts have recently commented on TCDA shares. Cowen set a $50.00 price objective on shares of Tricida and gave the stock a “buy” rating in a research note on Tuesday, October 15th. ValuEngine raised shares of Tricida from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Zacks Investment Research cut shares of Tricida from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $49.60.
The business’s 50 day moving average is $38.92 and its 200-day moving average is $35.23. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -8.58 and a beta of 0.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 15.48 and a current ratio of 15.48.
Tricida (NASDAQ:TCDA) last released its quarterly earnings results on Thursday, November 14th. The company reported ($0.89) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.89). Sell-side analysts anticipate that Tricida Inc will post -3.75 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Orbimed Advisors LLC grew its stake in Tricida by 2.1% in the 2nd quarter. Orbimed Advisors LLC now owns 11,114,280 shares of the company’s stock valued at $438,569,000 after acquiring an additional 225,000 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Tricida by 69.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,901,325 shares of the company’s stock valued at $153,946,000 after acquiring an additional 1,603,231 shares during the period. BlackRock Inc. grew its stake in Tricida by 23.4% in the 2nd quarter. BlackRock Inc. now owns 2,356,417 shares of the company’s stock valued at $92,984,000 after acquiring an additional 447,562 shares during the period. Vanguard Group Inc. grew its stake in Tricida by 49.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,246,304 shares of the company’s stock valued at $88,639,000 after acquiring an additional 740,141 shares during the period. Finally, Redmile Group LLC grew its stake in Tricida by 6.8% in the 3rd quarter. Redmile Group LLC now owns 2,077,700 shares of the company’s stock valued at $64,139,000 after acquiring an additional 132,500 shares during the period. 79.28% of the stock is currently owned by hedge funds and other institutional investors.
About Tricida (NASDAQ:TCDA)
Tricida, Inc, a pharmaceutical company, focuses on the development and commercialization of its drug candidate, TRC101, a non-absorbed, orally-administered polymer designed as a potential treatment for metabolic acidosis in patients with chronic kidney disease (CKD). It has completed a Phase 3, double-blind, placebo-controlled trial of TRC101 in patients with CKD and metabolic acidosis.
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