Shares of the company are trading at $2.05 which is significantly higher than $1.69, the 50 day moving average and significantly lower than the 200 day moving average of $2.49. The 50 day moving average moved up $0.36 whereas the 200 day average was down by -17.51%. Trading was light with 152K shares changing hands in the last trading session. Overall, volume was down 59.00% under the stocks normal daily volume.
Investors are more bearish on shares of Titan Pharmaceuticals, Inc. lately if you consider the uptick in short interest. The firm realized a rise in short interest of 21.25% between September 29, 2017 and October 13, 2017. Short interest increased from 761,277 to 923,024 over that timeframe. The short-interest ratio decreased to 2.0 and the short interest percentage is 0.04% as of October 13.
The following firms have recently changed their position in TTNP. As of quarter end Blackrock Inc. had disposed of a total of 128,187 shares trimming its holdings by 97.2%. The value of the investment in (TTNP) went from $435,000 to $7,000 a change of 98.4% for the reporting period. Bank Of NEW York Mellon Corp expanded its stake by buying 12,390 shares an increase of 2,828.8% from 03/31/2017 to 06/30/2017. Bank Of NEW York Mellon Corp owns 12,828 shares with a value of $24,000. The value of the position overall is up by 2,300.0%.
Meeder Asset Management Inc bolstered its investment by buying 233 shares an increase of 25.3% as of 09/30/2017. Meeder Asset Management Inc claims 1,153 shares worth $2,000. The total value of its holdings decreased 0.0%. Simplex Trading, LLC trimmed its holdings by selling 567 shares a decrease of 83.9% in the quarter. Simplex Trading, LLC currently owns 109 shares valued at $0. The value of the position overall is down by 100.0%.
In the latest earnings report the EPS was $-0.61 and is expected to be $-0.60 for the current year with 21,203,000 shares outstanding. Next quarter’s EPS is forecasted at $-0.14 and the next full year EPS is anticipated to be $-0.45.
Titan Pharmaceuticals, Inc. (Titan), launched on February 7, 1992, is a specialty pharmaceutical company. The Company is involved in developing therapeutics for the treatment of medical disorders. The Business’s segment is involved in the development of pharmaceutical products. The Business’s product development programs utilize its long-term drug delivery platform, ProNeura. The Business’s drug candidate, Probuphine, is being developed for the long-term maintenance treatment of opioid dependence. Titan’s ProNeura continuous drug delivery system consists of a small, solid rod made from a mixture of ethylene-vinyl acetate (EVA) and a drug substance. The Company focuses on developing two product development programs, the first one with a ropinirole implant for the treatment of Parkinson’s disease (PD) and the second one with a Triiodothyronine (T3) implant for the treatment of hypothyroidism. The Company is involved in the development of Probuphine for the maintenance treatment of opioid dependence. Probuphine utilizes ProNeura, Titan’s long-term drug delivery platform. Upon subdermal insertion in a patient, Probuphine is designed to release medication and maintains an around the clock blood level of the drug buprenorphine, an approved agent for the treatment of opioid dependence. Probuphine is in Phase III clinical study stage..