Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Short Interest Up 161.5% in April

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) saw 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 daily trading volume, of 10,900 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.7% of the company’s shares are short sold.

Titan Pharmaceuticals Price Performance

TTNP stock opened at $7.09 on Friday. The company’s 50-day moving average is $7.36 and its 200-day moving average is $7.14. The stock has a market capitalization of $6.45 million, a PE ratio of -0.86 and a beta of 1.33. Titan Pharmaceuticals has a 1 year low of $5.00 and a 1 year high of $16.60.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Titan Pharmaceuticals in a research report on Tuesday, April 23rd. They set a “sell” rating on the stock.

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.