Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Short Interest Down 40.9% in April

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP – Get Rating) was the target of a large decline in short interest in April. As of April 30th, there was short interest totalling 188,300 shares, a decline of 40.9% from the April 15th total of 318,400 shares. Based on an average daily trading volume, of 162,300 shares, the days-to-cover ratio is currently 1.2 days.

Shares of TTNP opened at $0.57 on Friday. The stock has a fifty day moving average price of $0.85 and a two-hundred day moving average price of $1.11. Titan Pharmaceuticals has a 52-week low of $0.49 and a 52-week high of $3.10.

Separately, StockNews.com initiated coverage on Titan Pharmaceuticals in a research note on Friday. They issued a “hold” rating on the stock.

An institutional investor recently raised its position in Titan Pharmaceuticals stock. Morgan Stanley raised its holdings in Titan Pharmaceuticals, Inc. (NASDAQ:TTNP – Get Rating) by 1,058,500.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 158,790 shares of the specialty pharmaceutical company’s stock after purchasing an additional 158,775 shares during the quarter. Morgan Stanley owned approximately 1.61% of Titan Pharmaceuticals worth $413,000 as of its most recent SEC filing. 18.86% of the stock is currently owned by institutional investors and hedge funds.

Titan Pharmaceuticals Company Profile (Get Rating)

Titan Pharmaceuticals, Inc, a pharmaceutical company, develops therapeutics for the treatment of chronic diseases. It develops products based on ProNeura, a proprietary long-term drug delivery platform. The company offers Probuphine implant for the maintenance treatment of opioid use disorder in clinically stable patients in Canada and the European Union.

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