Titan Pharmaceuticals (TTNP) Trading Up 16.3%
Titan Pharmaceuticals, Inc. (NASDAQ:TTNP)’s share price was up 16.3% during trading on Monday . The company traded as high as $1.71 and last traded at $1.71. Approximately 513,262 shares were traded during trading, a decline of 55% from the average daily volume of 1,131,499 shares. The stock had previously closed at $1.47.
Separately, ValuEngine upgraded shares of Titan Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, February 2nd.
The company has a current ratio of 3.85, a quick ratio of 3.49 and a debt-to-equity ratio of 0.55. The firm has a market cap of $19.71 million, a PE ratio of -2.16 and a beta of 0.70.
Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc grew its stake 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 acquiring an additional 48,760 shares during the last quarter. Virtu Financial LLC grew its stake 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 acquiring an additional 198,693 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Titan Pharmaceuticals by 256.0% in the 4th quarter. Geode Capital Management LLC now owns 341,474 shares of the specialty pharmaceutical company’s stock valued at $76,000 after acquiring an additional 245,565 shares during the last quarter. Institutional investors and hedge funds own 30.49% of the company’s stock.
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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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