Short Interest in Tricida Inc (NASDAQ:TCDA) Grows By 5.9%

Tricida Inc (NASDAQ:TCDA) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 3,590,000 shares, an increase of 5.9% from the September 30th total of 3,390,000 shares. Based on an average daily volume of 199,400 shares, the short-interest ratio is presently 18.0 days. Currently, 10.4% of the shares of the stock are sold short.

In other news, VP Wilhelm Stahl sold 836 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $39.97, for a total value of $33,414.92. Following the sale, the vice president now directly owns 15,642 shares in the company, valued at approximately $625,210.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert J. Alpern sold 11,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $36.96, for a total value of $406,560.00. Over the last quarter, insiders sold 83,921 shares of company stock worth $2,862,205. Corporate insiders own 66.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Tricida in the 3rd quarter valued at $29,000. Tower Research Capital LLC TRC acquired a new position in shares of Tricida in the 3rd quarter valued at $57,000. Bank of Montreal Can acquired a new position in shares of Tricida in the 2nd quarter valued at $72,000. Nisa Investment Advisors LLC acquired a new position in shares of Tricida in the 3rd quarter valued at $145,000. Finally, Strs Ohio lifted its stake in shares of Tricida by 8.3% in the 2nd quarter. Strs Ohio now owns 5,200 shares of the company’s stock valued at $205,000 after purchasing an additional 400 shares during the period. 80.74% of the stock is currently owned by institutional investors.

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Tricida from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday. Cowen set a $50.00 price objective on Tricida and gave the company a “buy” rating in a research note on Tuesday, October 15th. Zacks Investment Research upgraded Tricida from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. ValuEngine upgraded Tricida from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Needham & Company LLC set a $50.00 price objective on Tricida and gave the company a “buy” rating in a research note on Monday, August 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $48.33.

NASDAQ TCDA traded down $2.25 during trading hours on Friday, reaching $33.60. 763,200 shares of the company’s stock were exchanged, compared to its average volume of 225,615. The firm has a fifty day moving average of $34.75 and a 200-day moving average of $34.58. The company has a current ratio of 14.23, a quick ratio of 14.22 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.81 billion, a PE ratio of -7.24 and a beta of 0.85. Tricida has a one year low of $19.43 and a one year high of $42.80.

Tricida (NASDAQ:TCDA) last posted its quarterly earnings results on Thursday, November 14th. The company reported ($0.89) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.89). As a group, research analysts forecast that Tricida will post -3.53 EPS for the current year.

Tricida Company Profile

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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