Theratechnologies (NASDAQ:THTX) Shares Down 0.3% - Here's What Happened

Key Points

• Theratechnologies Inc. experienced a slight decline of 0.3% in its stock price, trading at $3.15 with notably low trading volume of 234,850 shares.
• Analysts from Jones Trading have lowered their rating for the company from a "strong-buy" to a "hold."
• During its last quarterly earnings report, Theratechnologies posted an EPS of -$0.09, falling short of analyst expectations of -$0.01 and generating revenue significantly below forecasts at $17.73 million.

Theratechnologies Inc. (NASDAQ:THTX - Get Free Report)'s share price traded down 0.3% during trading on Wednesday . The stock traded as low as $3.15 and last traded at $3.15. 234,850 shares were traded during mid-day trading, a decline of 79% from the average session volume of 1,105,427 shares. The stock had previously closed at $3.16.

Analyst Ratings Changes

Separately, Jones Trading downgraded Theratechnologies from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd.

Theratechnologies Stock Performance

The company's fifty day moving average price is $2.79 and its two-hundred day moving average price is $2.25. The firm has a market capitalization of $145.30 million, a PE ratio of -16.63 and a beta of 0.52.

Theratechnologies (NASDAQ:THTX - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $17,729 billion for the quarter, compared to the consensus estimate of $24.30 million. On average, equities analysts expect that Theratechnologies Inc. will post 0.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in THTX. National Bank of Canada FI boosted its position in Theratechnologies by 2.6% during the 1st quarter. National Bank of Canada FI now owns 197,068 shares of the company's stock worth $282,000 after purchasing an additional 4,938 shares during the period. Harbour Investments Inc. lifted its stake in shares of Theratechnologies by 9.5% during the first quarter. Harbour Investments Inc. now owns 96,105 shares of the company's stock worth $135,000 after purchasing an additional 8,333 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Theratechnologies in the fourth quarter worth about $27,000. Bank of America Corp DE grew its stake in shares of 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 buying an additional 15,400 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Theratechnologies during the 4th quarter valued at about $33,000.

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.