Tocagen (NASDAQ:TOCA) Shares Gap Down to $0.93

Tocagen Inc (NASDAQ:TOCA) shares gapped down before the market opened on Friday . The stock had previously closed at $1.11, but opened at $0.93. Tocagen shares last traded at $1.04, with a volume of 79,942 shares traded.

A number of research firms have weighed in on TOCA. Robert W. Baird lowered shares of Tocagen from an “outperform” rating to a “neutral” rating in a report on Thursday. Leerink Swann set a $5.00 target price on shares of Tocagen and gave the stock a “hold” rating in a report on Wednesday, May 22nd. B. Riley lowered shares of Tocagen from a “buy” rating to a “neutral” rating in a report on Thursday. HC Wainwright lowered shares of Tocagen from a “buy” rating to a “neutral” rating and set a $3.32 target price on the stock. in a report on Thursday. Finally, Chardan Capital lowered shares of Tocagen from a “buy” rating to a “neutral” rating in a report on Friday. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $11.62.

The stock has a market cap of $89.61 million, a price-to-earnings ratio of -0.42 and a beta of 4.07. The company has a current ratio of 4.21, a quick ratio of 4.21 and a debt-to-equity ratio of 0.86. The stock’s 50-day moving average price is $4.26 and its 200-day moving average price is $7.23.

Tocagen (NASDAQ:TOCA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.76) by $0.04. The firm had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.50 million. Tocagen had a negative net margin of 300.42% and a negative return on equity of 115.81%. As a group, analysts predict that Tocagen Inc will post -2.67 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of TOCA. Sphera Funds Management LTD. acquired a new position in shares of Tocagen in the 1st quarter worth approximately $1,304,000. Rubric Capital Management LP acquired a new position in shares of Tocagen in the 1st quarter worth approximately $1,176,000. GSA Capital Partners LLP acquired a new position in shares of Tocagen in the 2nd quarter worth approximately $551,000. JPMorgan Chase & Co. lifted its position in shares of Tocagen by 19.0% in the 1st quarter. JPMorgan Chase & Co. now owns 453,391 shares of the company’s stock worth $4,929,000 after purchasing an additional 72,539 shares during the period. Finally, LPL Financial LLC acquired a new position in shares of Tocagen in the 2nd quarter worth approximately $384,000. Hedge funds and other institutional investors own 35.43% of the company’s stock.

About Tocagen (NASDAQ:TOCA)

Tocagen Inc, a clinical-stage cancer-selective gene therapy company, focuses on developing and commercializing product candidates designed to activate a patient's immune system against their cancer. Its cancer-selective gene therapy platform is built on retroviral replicating vectors (RRVs), which are designed to deliver therapeutic genes into the DNA of cancer cells.

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