Commodore Capital LP lifted its stake in shares of Tricida, Inc. (NASDAQ:TCDA – Get Rating) by 16.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,028,453 shares of the company's stock after acquiring an additional 283,883 shares during the quarter. Tricida makes up approximately 4.2% of Commodore Capital LP's holdings, making the stock its 9th biggest position. Commodore Capital LP owned about 3.64% of Tricida worth $19,635,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in TCDA. Quantbot Technologies LP bought a new position in Tricida in the 1st quarter worth approximately $45,000. Royal Bank of Canada purchased a new stake in shares of Tricida during the 1st quarter worth approximately $55,000. Bank of America Corp DE raised its holdings in shares of Tricida by 290.5% during the 1st quarter. Bank of America Corp DE now owns 7,400 shares of the company's stock worth $61,000 after acquiring an additional 5,505 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Tricida by 353.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,653 shares of the company's stock worth $74,000 after acquiring an additional 5,965 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Tricida during the 1st quarter worth approximately $87,000.
Get Tricida alerts:Tricida Price Performance
Shares of NASDAQ TCDA opened at $0.24 on Thursday. Tricida, Inc. has a 52-week low of $0.19 and a 52-week high of $13.85. The business has a 50-day moving average price of $4.11 and a 200 day moving average price of $8.26.
Tricida (NASDAQ:TCDA – Get Rating) last issued its earnings results on Monday, November 14th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.54) by $0.10. As a group, sell-side analysts expect that Tricida, Inc. will post -1.88 EPS for the current fiscal year.Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. Cowen downgraded Tricida to a "market perform" rating in a research report on Monday, October 24th. Needham & Company LLC cut Tricida from a "buy" rating to a "hold" rating in a research report on Tuesday, October 25th. Cowen lowered Tricida from an "outperform" rating to a "market perform" rating in a report on Monday, October 24th. Finally, JPMorgan Chase & Co. lowered Tricida from a "neutral" rating to an "underweight" rating in a research note on Tuesday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $17.00.
Insider Buying and Selling at Tricida
In related news, major shareholder Venrock Healthcare Capital Par bought 395,614 shares of the stock in a transaction on Monday, September 26th. The shares were purchased at an average price of $8.56 per share, for a total transaction of $3,386,455.84. Following the acquisition, the insider now owns 8,690,277 shares in the company, valued at $74,388,771.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Brian M. Isern sold 212,283 shares of the stock in a transaction on Wednesday, October 12th. The stock was sold at an average price of $12.53, for a total value of $2,659,905.99. Following the transaction, the insider now directly owns 1,580,899 shares of the company's stock, valued at approximately $19,808,664.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Venrock Healthcare Capital Par bought 395,614 shares of the business's stock in a transaction that occurred on Monday, September 26th. The stock was purchased at an average cost of $8.56 per share, for a total transaction of $3,386,455.84. Following the completion of the transaction, the insider now directly owns 8,690,277 shares in the company, valued at approximately $74,388,771.12. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 1,331,922 shares of company stock worth $13,737,531 and have sold 8,582,062 shares worth $6,937,442. 35.60% of the stock is owned by insiders.
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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