Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Sees Large Increase in Short Interest

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 23,500 shares, an increase of 58.8% from the January 15th total of 14,800 shares. Based on an average daily trading volume, of 28,500 shares, the days-to-cover ratio is currently 0.8 days. Currently, 3.6% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Titan Pharmaceuticals in a report on Thursday. They set a “sell” rating for the company.

Titan Pharmaceuticals Stock Down 0.7 %

TTNP traded down $0.03 on Friday, hitting $4.03. The company had a trading volume of 8,030 shares, compared to its average volume of 33,504. The company’s fifty day moving average price is $3.46 and its 200 day moving average price is $4.49. Titan Pharmaceuticals has a 1-year low of $3.03 and a 1-year high of $14.80.

Titan Pharmaceuticals (NASDAQ:TTNP) last posted its earnings results on Friday, January 3rd. The specialty pharmaceutical company reported ($0.83) earnings per share for the quarter.

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.