Theratechnologies Inc. (NASDAQ:THTX) Short Interest Update

Key Points

• Short interest in Theratechnologies Inc. saw a significant decline of 30.2% in August, totaling 209,400 shares as of August 31, down from 300,200 shares mid-month.
• The company's quarterly earnings reported a loss of ($0.09) EPS, missing analysts' expectations, with revenues of $17.73 million, below the anticipated $24.30 million.
• Hedge fund activity includes a striking 1,416.7% increase in holdings by Bank of America during the 4th quarter, along with new investments from various firms totaling approximately $39,000 to $41,000 each.

Theratechnologies Inc. (NASDAQ:THTX - Get Free Report) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 209,400 shares, a decrease of 30.2% from the August 15th total of 300,200 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 525,200 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 525,200 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.6% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Jones Trading cut Theratechnologies from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. One investment 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, the company has a consensus rating of "Buy".

Theratechnologies Stock Performance

Shares of THTX stock traded down $0.01 during trading hours on Friday, reaching $3.30. The company had a trading volume of 431,057 shares, compared to its average volume of 493,035. The company has a market capitalization of $151.73 million, a price-to-earnings ratio of -17.37 and a beta of 0.51. Theratechnologies has a 12-month low of $1.12 and a 12-month high of $3.34. The stock has a fifty day moving average of $3.22 and a 200-day moving average of $2.62.

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

Institutional Trading of Theratechnologies

Several hedge funds have recently modified their holdings of the stock. Stonepine Capital Management LLC raised its stake in Theratechnologies by 632.0% in the second quarter. Stonepine Capital Management LLC now owns 189,051 shares of the company's stock valued at $446,000 after buying an additional 163,226 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in Theratechnologies in the 2nd quarter valued at approximately $354,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in Theratechnologies in the 2nd quarter valued at approximately $313,000. Rangeley Capital LLC purchased a new stake in Theratechnologies in the 2nd quarter valued at approximately $118,000. Finally, Cyndeo Wealth Partners LLC acquired a new stake in shares of Theratechnologies during the 1st quarter valued at approximately $42,000.

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.