Stock traders buy high volume call options on Tricida (NASDAQ:TCDA)

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Tricida, Inc. (NASDAQ:TCDA) saw unusually heavy options trading activity on Friday. Investors acquired 6,703 call options on the company. This represents a 1,241% increase over the average daily volume of 500 call options.

In other Tricida CEO news Gerrit Klaerner sold 126,000 shares of the company in a transaction dated Monday, November 15. The shares were sold at an average price of $6.02, for a total value of $758,520.00. The sale was disclosed in a filing with the SEC, which is available via this link. Also, director Sandra I. Coufal sold 15,722 shares in a trade that took place on Tuesday, December 7. The shares were sold at an average price of $8.03, for a total transaction of $126,247.66. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 171,669 shares of the company valued at $1,126,141. 47.40% of the shares are held by insiders of the company.

Several institutional investors have recently changed their stock portfolios. Point72 Asset Management LP increased its holdings of Tricida shares by 1.6% during the third quarter. Point72 Asset Management LP now owns 4,889,949 shares of the company worth $22,689,000 after purchasing an additional 75,000 shares in the last quarter. Great Point Partners LLC increased its position in Tricida by 464.6% during the second quarter. Great Point Partners LLC now owns 1,974,000 shares of the company valued at $8,528,000 after purchasing an additional 1,624,400 shares during the period. Morgan Stanley increased its position in Tricida by 18.3% during the second quarter. Morgan Stanley now owns 1,727,196 shares of the company valued at $7,461,000 after purchasing an additional 267,335 shares during the period. Bleichroeder LP acquired a new stake in Tricida during the third quarter valued at $6,032,000. Finally, FMR LLC increased its position in Tricida by 9.7% during the first quarter. FMR LLC now owns 1,213,065 shares of the company valued at $46,849,000 after purchasing an additional 107,500 shares during the period. 85.29% of the shares are held by hedge funds and other institutional investors.

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NASDAQ TCDA shares traded at $0.20 at midday Friday, hitting $9.93. The company had a trading volume of 590,904 shares, compared to an average volume of 376,063. The company’s 50-day simple moving average is $8.55 and its 200-day simple moving average is 5, $90. The stock has a market capitalization of $500.95 million, a P/E ratio of -2.80 and a beta of 1.11. Tricida has a 1 year minimum of $3.55 and a 1 year maximum of $10.60. The company has a current ratio of 5.88, a quick ratio of 5.88 and a debt ratio of 65.82.

Tricida Inc (NASDAQ:TCDA) last released its results on Monday, November 8. The company reported ($0.79) earnings per share (EPS) for the quarter, missing Thomson Reuters consensus estimate of ($0.70) by ($0.09). During the same period of the previous year, the company achieved EPS of ($1.55). Analysts predict that Tricida will post earnings per share of -3.22 for the current year.

A number of research analysts have published TCDA stock reports. JPMorgan Chase & Co. moved Tricida shares from an “underweight” rating to a “neutral” rating and set a price target of $7.00 for the company in a Tuesday, Nov. 16, report. Zacks Investment Research cut Tricida shares from a “buy” rating to a “hold” rating in a Thursday, January 20, report.

Company Profile Tricida

Tricida, Inc is a pharmaceutical company. It is focused on the development and commercialization of its product, TRC101, an unabsorbed orally administered polymeric drug designed to treat metabolic acidosis in patients with chronic kidney disease. The company was founded by Gerrit Klaerner and Craig Jon Hawker in 2013 and is based in South San Francisco, California.

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