Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Sees Significant Drop in Short Interest

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 35,400 shares, a decline of 39.7% from the August 31st total of 58,700 shares. Based on an average trading volume of 46,300 shares, the short-interest ratio is currently 0.8 days. Approximately 3.7% of the company’s stock are sold short. Approximately 3.7% of the company’s stock are sold short. Based on an average trading volume of 46,300 shares, the short-interest ratio is currently 0.8 days.

Titan Pharmaceuticals Trading Up 23.7%

NASDAQ:TTNP opened at $5.93 on Friday. The company has a market cap of $7.88 million, a PE ratio of -2.01 and a beta of 1.37. The company has a 50 day simple moving average of $4.42 and a two-hundred day simple moving average of $4.30. Titan Pharmaceuticals has a 12 month low of $3.03 and a 12 month high of $5.76.

Titan Pharmaceuticals (NASDAQ:TTNP) last issued its quarterly earnings data on Thursday, August 14th. The specialty pharmaceutical company reported ($0.65) EPS for the quarter.

Institutional Investors Weigh In On Titan Pharmaceuticals

A hedge fund recently bought a new stake in Titan Pharmaceuticals stock. Marex Group plc acquired a new position in Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,663 shares of the specialty pharmaceutical company’s stock, valued at approximately $45,000. Marex Group plc owned 1.17% of Titan Pharmaceuticals as of its most recent SEC filing. Hedge funds and other institutional investors own 31.49% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Titan Pharmaceuticals in a research note on Saturday, September 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Titan Pharmaceuticals presently has a consensus rating of “Sell”.

Titan Pharmaceuticals Company Profile

Titan Pharmaceuticals, Inc, a pharmaceutical company, develops therapeutics for the treatment of chronic diseases in the United States and internationally. It develops products based on ProNeura, a proprietary long-term drug delivery platform. It also develops TP-2021 in combination with ProNeura technology for the treatment of chronic pruritus, a severe and debilitating condition defined as itching of the skin lasting longer than six weeks; and Nalmefene implant program for the prevention of opioid relapse following detoxification of patients suffering opioid use disorder.