Short Interest in Theratechnologies Inc. (NASDAQ:THTX) Declines By 31.9%

Theratechnologies Inc. (NASDAQ:THTX - Get Free Report) was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totalling 285,600 shares, a decrease of 31.9% from the April 30th total of 419,500 shares. Based on an average daily volume of 2,930,000 shares, the short-interest ratio is currently 0.1 days. Currently, 1.5% of the company's stock are sold short.

Theratechnologies Price Performance

THTX stock traded up $0.02 during mid-day trading on Tuesday, reaching $2.61. 119,798 shares of the company's stock were exchanged, compared to its average volume of 810,664. The company has a market cap of $120.01 million, a price-to-earnings ratio of -26.10 and a beta of 0.56. The stock's 50 day moving average is $2.34 and its 200 day moving average is $1.87. Theratechnologies has a 12-month low of $1.12 and a 12-month high of $3.13.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in THTX. Raymond James Financial Inc. acquired a new position in shares of Theratechnologies during the 4th quarter worth approximately $27,000. Bank of America Corp DE increased 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 valued at $30,000 after purchasing an additional 15,400 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Theratechnologies in the fourth quarter valued at $33,000. Stonepine Capital Management LLC purchased a new stake in Theratechnologies in the first quarter valued at $36,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Theratechnologies in the fourth quarter valued at approximately $36,000.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on THTX shares. Research Capitl raised Theratechnologies to a "strong-buy" rating in a report on Friday, February 14th. Jones Trading raised shares of Theratechnologies from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th.

Theratechnologies Company 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.