Titan Pharmaceuticals (TTNP) Stock Price Down 6.9%
Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) shares fell 6.9% on Monday . The stock traded as low as $1.60 and last traded at $1.62. 565,685 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 1,287,081 shares. The stock had previously closed at $1.74.
Separately, ValuEngine raised Titan Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, February 2nd.
The company has a quick ratio of 4.65, a current ratio of 5.24 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $22.83 million, a price-to-earnings ratio of -0.39 and a beta of 0.52.
Institutional investors and hedge funds have recently modified their holdings of the stock. Perkins Capital Management Inc. acquired a new stake in Titan Pharmaceuticals in the 3rd quarter valued at $249,000. Virtu Financial LLC increased its holdings in Titan Pharmaceuticals by 530.0% in the 4th quarter. Virtu Financial LLC now owns 236,182 shares of the specialty pharmaceutical company’s stock valued at $53,000 after purchasing an additional 198,693 shares in the last quarter. Finally, Vanguard Group Inc increased its holdings in Titan Pharmaceuticals by 12.7% in the 3rd quarter. Vanguard Group Inc now owns 432,337 shares of the specialty pharmaceutical company’s stock valued at $90,000 after purchasing an additional 48,760 shares in the last quarter. 35.49% of the stock is currently owned by institutional investors and hedge funds.
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About Titan Pharmaceuticals (NASDAQ:TTNP)
Titan Pharmaceuticals, Inc, a pharmaceutical company, develops proprietary therapeutics for the treatment of serious medical disorders. It develops products based on ProNeura, a proprietary long-term drug delivery platform that focuses primarily on treatments for chronic diseases. The company offers Probuphine, a product candidate for maintenance treatment of opioid dependence, which maintains a stable, around the clock blood level of the drug buprenorphine in patients for six months following a single treatment.
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