Citadel Advisors LLC recently announced the acquisition of new stake in Tricida Inc. (NASDAQ:TCDA). The institutional investor has increased its shareholding in the Healthcare company by 20,020.44% to 3.41 million shares with purchase of 3.39 million shares. This fresh investment now brings its stake to 6.12% valued currently at $1.13 million. In addition, BlackRock Fund Advisors raised its holdings by 0.36 million to 2.75 million shares. And The Vanguard Group, Inc. has lifted its position by 3.68% or 57038.0 shares – to 1.6 million shares.
With over 10.03 million Tricida Inc. (TCDA) shares trading Tuesday and a closing price of $0.21 on the day, the dollar volume was approximately $2.11 million. The shares have shown a negative half year performance of -97.74% and its price on 11/22/22 lost nearly -10.20%. Currently, there are 58.02M common shares owned by the public and among those 50.99M shares have been available to trade.
Insiders at the company have transacted a total of 92 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 47 of these insider trades were purchases, accounting for 4,530,321 shares. Insider sales of the common stock occurred on 45 occasions, with total insider shares sold totaling 13,752,102 shares.
The top 3 mutual fund holders in Tricida Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Wellington Fund – US Mom. Vanguard Total Stock Market Index owns 1.07 million shares of the company’s stock, all valued at over $0.36 million. The company sold 17200.0 shares recently to bring their total holdings to about 1.93% of the shares outstanding. iShares Russell 2000 ETF sold 13589.0 shares to see its total holdings shrink to 0.73 million shares valued at over $0.24 million and representing 1.31% of the shares outstanding. Vanguard Wellington Fund – US Mom now owns shares totaling to 1.16% of the shares outstanding.
However, the script later moved the day high at 0.2383, down -10.20%. The company’s stock has a 5-day price change of -14.98% and -98.44% over the past three months. TCDA shares are trading -97.83% year to date (YTD), with the 12-month market performance down to -97.28% lower. It has a 12-month low price of $0.23 and touched a high of $13.85 over the same period. TCDA has an average intraday trading volume of 7.42 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -32.14%, -96.77%, and -97.70% respectively.
Institutional ownership of Tricida Inc. (NASDAQ: TCDA) shares accounts for 90.30% of the company’s 58.02M shares outstanding. Mutual fund holders own 39.47%, while other institutional holders and individual stakeholders account for 64.63% and 11.81% respectively.
It has a market capitalization of $12.36M and a beta (3y monthly) value of 0.14. The earnings-per-share (ttm) stands at -$2.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.02% over the week and 17.87% over the month.
Analysts forecast that Tricida Inc. (TCDA) will achieve an EPS of -$0.54 for the current quarter, -$0.53 for the next quarter and -$1.06 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.56 while analysts give the company a high EPS estimate of -$0.52. Comparatively, EPS for the current quarter was -$0.79 a year ago. Earnings per share for the fiscal year are expected to increase by 34.90%, and 48.00% over the next financial year.
Looking at the support for the TCDA, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on April 13, 2022, with the firm’s price target at $25. JP Morgan coverage for the Tricida Inc. (TCDA) stock in a research note released on November 16, 2021 offered a Neutral rating with a price target of $7. JP Morgan was of a view on September 29, 2020 that the stock is Underweight, while Goldman gave the stock Neutral rating on August 25, 2020, issuing a price target of $25- $10. Goldman on their part issued Buy rating on June 27, 2019.