Are Hedge Funds Betting Against Titan Pharmaceuticals, Inc. (TTNP)?

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) produced a 84.62% rally since recording the worst price of $1.3. Thanks to the latest 17.07% increase, it now trades at $2.4. Throughout the trading on Oct. 6, 2017, the share price floated between $2.06 and $2.45. This company shares are 150% off its target price of $6 and the current market capitalization stands at $45.89M. The recent change has given its price a 43.63% lead over SMA 50 and -60.46% deficit over its 52-week high. The stock witnessed 54.84% gains, 29.73% gains and -22.58% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found TTNP’s volatility during a week at 13.55% and during a month it has been found around 7.19%.

Titan Pharmaceuticals, Inc. (TTNP) Top Holders

Institutional investors currently hold around $7 million or 13.2% in TTNP stock. Look at its top three institutional owners. Vanguard Group Inc owns $1.6 million in Titan Pharmaceuticals, Inc., which represents roughly 3.48% of the company’s market cap and approximately 22.79% of the institutional ownership. Similar statistics are true for the second largest owner, Municipal Employees’ Retirement System Of Michigan, which owns 303,300 shares of the stock are valued at $728 thousand. The third largest holder is Renaissance Technologies Llc, which currently holds $669 thousand worth of this stock and that ownership represents nearly 1.46% of its market capitalization.

Titan Pharmaceuticals, Inc. 13F Filings

At the end of 06/30/2017 reporting period, 21 institutional holders increased their position in Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) by some 1,001,056 shares, 31 decreased positions by 1,568,019 and 14 held positions by 199,078. That puts total institutional holdings at 2,768,153 shares, according to SEC filings. The stock grabbed 9 new institutional investments totaling 853,296 shares while 17 institutional investors sold out their entire positions totaling 437,275 shares.

Titan Pharmaceuticals, Inc. (NASDAQ:TTNP) Insider Trades

Multiple company employees have indulged in significant insider trading. Titan Pharmaceuticals, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Director Akers Joseph A has acquired 13,000 shares of Titan Pharmaceuticals, Inc. (TTNP) in trading session dated Jul. 19, 2016. These shares are worth $63,050 and were traded at $4.85 each. The SEC filing shows that Bhonsle Sunil performed a purchase of 10,000 shares. The President and CEO added these shares by way of transaction on Jul. 18, 2016. The company’s shares were assimilated at $4.96 per share worth to an investment of some $49,600 on account of Bhonsle Sunil.

Director, Mcnab James R, purchased 20,000 common shares of Titan Pharmaceuticals, Inc. (TTNP) in the open market. In a transaction dated May. 31, 2016, the shares were bought at an average price of $7.03, giving away a sum of $140,600. After this purchase, 100,000 common shares of TTNP are directly owned by the insider, with total stake valued at $240,000.

In the transaction dated Feb. 22, 2016, the great number of shares acquired came courtesy the President and CEO; Bhonsle Sunil added a total of 11,763 shares at an average price of $3.56, amounting to approximately $41,876. The insider now directly owns 180,262 shares worth $432,629.

Titan Pharmaceuticals, Inc. (TTNP) Analyst Guide

Not many analysts have released their opinion on Titan Pharmaceuticals, Inc. (NASDAQ:TTNP), with 1 analysts believing it is a strong buy. Whereas 0 of them predict the stock is a hold. Also, there are 0 buy, 0 sell and 0 strong sell ratings, collectively assigning a 1 average brokerage recommendation.

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