Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Short Interest Down 39.7% in September

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) was the target of a large decline in short interest in 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. Currently, 3.7% of the company’s stock are short sold. Based on an average trading volume of 46,300 shares, the days-to-cover ratio is currently 0.8 days. Based on an average trading volume of 46,300 shares, the days-to-cover ratio is currently 0.8 days. Currently, 3.7% of the company’s stock are short sold.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Titan Pharmaceuticals

An institutional investor recently bought a new position in Titan Pharmaceuticals stock. Marex Group plc purchased a new position in Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,663 shares of the specialty pharmaceutical company’s stock, valued at approximately $45,000. Marex Group plc owned approximately 1.17% of Titan Pharmaceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 31.49% of the company’s stock.

Titan Pharmaceuticals Stock Performance

Shares of NASDAQ TTNP opened at $5.93 on Friday. 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 fifty-two week low of $3.03 and a fifty-two week high of $5.76. The company has a market capitalization of $7.88 million, a price-to-earnings ratio of -2.01 and a beta of 1.37.

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

About Titan Pharmaceuticals

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.