Short Interest in Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Rises By 161.5%

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) was the target of a large increase in short interest in the month of 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 trading volume of 10,900 shares, the short-interest ratio is currently 0.9 days. Approximately 1.7% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Titan Pharmaceuticals in a research note on Tuesday. They set a “sell” rating for the company.

Titan Pharmaceuticals Stock Performance

Shares of TTNP stock traded up $0.12 during trading hours on Friday, reaching $7.09. The company had a trading volume of 10,648 shares, compared to its average volume of 11,457. The company has a market capitalization of $6.45 million, a P/E ratio of -0.85 and a beta of 1.33. Titan Pharmaceuticals has a twelve month low of $5.00 and a twelve month high of $16.60. The stock’s fifty day simple moving average is $7.36 and its 200 day simple moving average is $7.16.

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.