Nantahala Capital Management LLC Sells 259,665 Shares of Theratechnologies Inc. $THTX

Key Points

• Nantahala Capital Management LLC has reduced its holdings in Theratechnologies Inc. by 9.7% during the first quarter, now owning about 5.27% of the company with approximately $3.47 million in shares.
• Theratechnologies' stock has experienced a slight decline of 0.3%, opening at $3.24 with a market capitalization of $148.98 million.
• Following recent earnings results that missed expectations, one analyst downgraded Theratechnologies from a "strong-buy" to a "hold" rating, while the company's current average rating remains at "Buy."

Nantahala Capital Management LLC lowered its holdings in Theratechnologies Inc. (NASDAQ:THTX - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,422,563 shares of the company's stock after selling 259,665 shares during the quarter. Nantahala Capital Management LLC owned approximately 5.27% of Theratechnologies worth $3,476,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Theratechnologies in the 4th quarter worth approximately $27,000. Bank of America Corp DE lifted its stake in shares of Theratechnologies by 1,416.7% in the 4th quarter. Bank of America Corp DE now owns 16,487 shares of the company's stock valued at $30,000 after purchasing an additional 15,400 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of Theratechnologies in the 4th quarter valued at approximately $33,000. Stonepine Capital Management LLC purchased a new position in shares of Theratechnologies in the 1st quarter valued at approximately $36,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Theratechnologies in the 4th quarter valued at approximately $36,000.

Analysts Set New Price Targets

Separately, Jones Trading cut Theratechnologies from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Theratechnologies presently has an average rating of "Buy".

Theratechnologies Price Performance

THTX stock traded up $0.01 on Thursday, reaching $3.25. 306,837 shares of the company traded hands, compared to its average volume of 1,356,810. Theratechnologies Inc. has a one year low of $1.12 and a one year high of $3.27. The company has a market cap of $149.44 million, a P/E ratio of -17.11 and a beta of 0.51. The firm has a fifty day simple moving average of $3.10 and a 200-day simple moving average of $2.49.

Theratechnologies (NASDAQ:THTX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 9th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.08). The company had revenue of $17.73 million during the quarter, compared to the consensus estimate of $24.30 million. On average, sell-side analysts forecast that Theratechnologies Inc. will post 0.01 EPS for the current year.

Theratechnologies Profile

Theratechnologies Inc, a biopharmaceutical company, focuses on the development and commercialization of various therapies to address the unmet medical needs in the United States, Canada, and Europe. The company offers EGRIFTA SV for the reduction of excess abdominal fat in human immunodeficiency virus (HIV)-infected patients with lipodystrophy; and Trogarzo for the treatment of HIV-1 infection in heavily treatment-experienced adults with multidrug-resistant HIV-1 infection failing their current antiretroviral regimen.