Titan Pharmaceuticals (NASDAQ:TTNP) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Titan Pharmaceuticals (NASDAQ:TTNP – Get Free Report) in a note issued to investors on Tuesday. The firm set a “sell” rating on the specialty pharmaceutical company’s stock.

Titan Pharmaceuticals Stock Performance

Shares of NASDAQ TTNP opened at $0.61 on Tuesday. The business has a fifty day simple moving average of $0.73 and a 200 day simple moving average of $0.81. Titan Pharmaceuticals has a one year low of $0.59 and a one year high of $1.59.

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Insider Activity at Titan Pharmaceuticals

In related news, CEO David E. Lazar sold 3,388,902 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $1.23, for a total value of $4,168,349.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 27.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in Titan Pharmaceuticals by 559.3% during the second quarter. Renaissance Technologies LLC now owns 240,710 shares of the specialty pharmaceutical company’s stock worth $135,000 after acquiring an additional 204,200 shares in the last quarter. State Street Corp bought a new stake in shares of Titan Pharmaceuticals during the third quarter worth $41,000. Virtu Financial LLC bought a new stake in shares of Titan Pharmaceuticals during the second quarter worth $35,000. Finally, Millennium Management LLC grew its holdings in shares of Titan Pharmaceuticals by 516.8% during the second quarter. Millennium Management LLC now owns 63,106 shares of the specialty pharmaceutical company’s stock worth $35,000 after purchasing an additional 52,874 shares during the last quarter. 6.33% of the stock is currently owned by institutional investors and hedge funds.

About Titan Pharmaceuticals

(Get Free Report)

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 the United States, Canada, and the European Union.

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