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

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 10,200 shares, an increase of 161.5% from the March 31st total of 3,900 shares. Based on an average daily trading volume, of 10,900 shares, the short-interest ratio is presently 0.9 days. Approximately 1.7% of the shares of the stock are short sold.

Titan Pharmaceuticals Stock Performance

TTNP stock opened at $7.09 on Friday. The firm has a market cap of $6.45 million, a P/E ratio of -0.86 and a beta of 1.33. The firm’s fifty day moving average is $7.36 and its 200 day moving average is $7.14. Titan Pharmaceuticals has a 52 week low of $5.00 and a 52 week high of $16.60.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Titan Pharmaceuticals in a research note on Tuesday, April 23rd. They issued a “sell” rating for the company.

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.