Theratechnologies Inc. (NASDAQ:THTX) Sees Significant Drop in Short Interest

Key Points

• Theratechnologies Inc. experienced a significant 26.4% decline in short interest, dropping from 310,500 shares to 228,400 shares as of July 31st.
• Several institutional investors have recently increased their stakes in Theratechnologies, including Bank of America, which grew its stake by 1,416.7% during the fourth quarter.
• Theratechnologies reported a loss of $0.09 per share for the last quarter, failing to meet analysts' expectations of a loss of $0.01.

Theratechnologies Inc. (NASDAQ:THTX - Get Free Report) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 228,400 shares, adeclineof26.4% from the July 15th total of 310,500 shares. Based on an average daily volume of 462,000 shares, the days-to-cover ratio is currently 0.5 days. Currently,0.6% of the company's shares are short sold. Currently,0.6% of the company's shares are short sold. Based on an average daily volume of 462,000 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Theratechnologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Theratechnologies in the fourth quarter worth $27,000. Bank of America Corp DE grew its stake in Theratechnologies by 1,416.7% in the fourth quarter. Bank of America Corp DE now owns 16,487 shares of the company's stock worth $30,000 after purchasing an additional 15,400 shares during the period. JPMorgan Chase & Co. purchased a new stake in Theratechnologies in the fourth quarter worth $33,000. BNP Paribas Financial Markets purchased a new stake in Theratechnologies in the fourth quarter worth $36,000. Finally, Stonepine Capital Management LLC purchased a new stake in Theratechnologies in the first quarter worth $36,000.

Analysts Set New Price Targets

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

Theratechnologies Stock Up 0.3%

Shares of Theratechnologies stock opened at $3.24 on Thursday. The company has a market cap of $148.98 million, a PE ratio of -17.05 and a beta of 0.52. The business has a 50 day moving average of $2.95 and a 200 day moving average of $2.38. Theratechnologies has a 52 week low of $1.12 and a 52 week high of $3.25.

Theratechnologies (NASDAQ:THTX - Get Free Report) last announced its earnings results on Wednesday, July 9th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.08). The company had revenue of $17,729 billion during the quarter, compared to the consensus estimate of $24.30 million. On average, research analysts anticipate that Theratechnologies will post 0.01 earnings per share for the current year.

About Theratechnologies

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.

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