MetLife Investment Advisors LLC boosted its position in Tricida Inc (NASDAQ:TCDA) by 68.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,804 shares of the company’s stock after purchasing an additional 3,587 shares during the period. MetLife Investment Advisors LLC’s holdings in Tricida were worth $340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TCDA. BlackRock Inc. raised its stake in shares of Tricida by 59.2% during the fourth quarter. BlackRock Inc. now owns 1,600,579 shares of the company’s stock valued at $37,743,000 after acquiring an additional 595,476 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Tricida by 40.1% in the first quarter. JPMorgan Chase & Co. now owns 1,014,195 shares of the company’s stock worth $39,169,000 after buying an additional 290,391 shares in the last quarter. Opaleye Management Inc. raised its stake in Tricida by 141.2% in the fourth quarter. Opaleye Management Inc. now owns 123,000 shares of the company’s stock worth $2,900,000 after buying an additional 72,000 shares in the last quarter. Marshall Wace LLP bought a new position in Tricida in the first quarter worth approximately $2,546,000. Finally, Federated Investors Inc. PA grew its holdings in Tricida by 8.6% in the first quarter. Federated Investors Inc. PA now owns 443,100 shares of the company’s stock worth $17,113,000 after purchasing an additional 35,200 shares during the last quarter. 62.89% of the stock is owned by institutional investors and hedge funds.
In other news, Director Robert J. Alpern sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $37.05, for a total value of $111,150.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sandra I. Coufal sold 2,000 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $35.92, for a total transaction of $71,840.00. The disclosure for this sale can be found here. In the last three months, insiders sold 70,126 shares of company stock valued at $2,586,416. Corporate insiders own 66.70% of the company’s stock.
Tricida (NASDAQ:TCDA) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.10). On average, analysts forecast that Tricida Inc will post -3.44 EPS for the current year.
TCDA has been the topic of several analyst reports. Zacks Investment Research lowered shares of Farmland Partners from a “hold” rating to a “sell” rating in a report on Friday, July 12th. Needham & Company LLC lifted their price target on shares of ViaSat from $78.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Cowen reissued a “buy” rating and set a $50.00 price objective on shares of Tricida in a report on Tuesday, June 25th. Empire boosted their price objective on shares of Tricida from $37.00 to $58.00 in a report on Monday, April 1st. Finally, Goldman Sachs Group started coverage on shares of Tricida in a report on Wednesday, June 26th. They set a “buy” rating and a $48.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $47.00.
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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