After previously exiting a position in the fourth quarter of 2020, Point72 Asset Management leader Steven Cohen (Trades, Portfolio) disclosed a new 5.03% stake in Tricida Inc. (NASDAQ:TCDA) last week. According to GuruFocus Real-Time Picks, a Premium feature, Cohen invested in 2.5 million shares of the San Francisco-based pharmaceutical company on March 23, impacting the equity portfolio by 0.06%. GuruFocus.comTricida is focused on developing its investigational drug candidate, veverimer, to treat metabolic acidosis in patients with chronic kidney disease. Research and development expenses for the quarter were $27.3 million, while the net loss was $1.09 per share. Tricida also has a low Piotroski F-Score of 3, which suggests operating conditions are in poor shape.

Source: Forbes March 30, 2021 21:45 UTC