Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Stock Traded 18.3% Above Its 50 Day Average

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It is trading at $2.00 impressively higher than the 50 day moving average of $1.69 and which is significantly lower than the 200 day moving average of $2.49. The 50 day moving average was up by +18.10% and the 200 day average went down by -19.52%. Titan Pharmaceuticals, Inc. shares had a trading volume of 13K by the end of trading on Tuesday. Trading volume was down 87.93% under the stocks average daily volume.

Investors are a little more bullish lately if you look at the motion in short interest. The firm realized a fall in short interest from September 15, 2017 to September 29, 2017 of -6.43%. Short shares fell 52,348 over that timeframe. Days to cover decreased -5.0 to 10.0 and the percentage of shorted shares is 0.04% as of September 29.

Here are a few substantial investment firms who have updated their positions. As of quarter end Renaissance Technologies LLC had acquired a total of 42,186 shares growing its stake by 17.8%. The value of the investment in (TTNP) decreased from $781,000 to $530,000 a change of $251,000 quarter to quarter. As of the end of the quarter Blackrock Inc. had sold 128,187 shares trimming its holdings by 97.2%. The value of the investment in TTNP went from $435,000 to $7,000 decreasing 98.4% for the reporting period.

As of the end of the quarter Bank Of NEW York Mellon Corp had bought a total of 12,390 shares growing its position 2,828.8%. The value of the total investment in Titan Pharmaceuticals, Inc. went from $1,000 to $24,000 a change of 2,300.0% quarter over quarter. Meeder Asset Management Inc added to its stake by buying 233 shares an increase of 25.3% from 06/30/2017 to 09/30/2017. Meeder Asset Management Inc now holds 1,153 shares valued at $2,000. The total value of its holdings decreased 0.0%.

As of the latest earnings report the EPS was $-0.61 and is projected to be $-0.60 for the current year with 21,203,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $-0.14 with next year’s EPS projected 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..

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