Iterum Therapeutics plc (NASDAQ:ITRM) Short Interest Update


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Iterum Therapeutics plc (NASDAQ:ITRM) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 3,970,000 shares, a drop of 24.7% from the March 15th total of 5,270,000 shares. Based on an average daily volume of 26,490,000 shares, the short-interest ratio is currently 0.1 days.

Iterum Therapeutics stock traded up $0.05 on Friday, hitting $1.10. 17,266,436 shares of the stock traded hands, compared to its average volume of 25,012,971. The firm has a market cap of $194.13 million, a P/E ratio of -0.27 and a beta of 1.49. The business’s fifty day simple moving average is $1.50 and its 200 day simple moving average is $1.18. Iterum Therapeutics has a 1 year low of $0.45 and a 1 year high of $6.02.

Iterum Therapeutics (NASDAQ:ITRM) last announced its quarterly earnings data on Thursday, March 11th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.03. On average, equities analysts forecast that Iterum Therapeutics will post -1.74 EPS for the current year.

In other news, Director Michael W. Dunne sold 33,143 shares of the firm’s stock in a transaction that occurred on Tuesday, January 26th. The shares were sold at an average price of $1.73, for a total value of $57,337.39. Following the transaction, the director now owns 289,498 shares in the company, valued at $500,831.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Alexander J. Denner sold 10,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 11th. The stock was sold at an average price of $2.59, for a total transaction of $25,900,000.00. The disclosure for this sale can be found here. Insiders sold 10,152,456 shares of company stock worth $26,163,749 in the last 90 days. Company insiders own 22.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ITRM. Grimes & Company Inc. purchased a new position in Iterum Therapeutics during the fourth quarter valued at $71,000. Focused Wealth Management Inc purchased a new position in shares of Iterum Therapeutics in the 4th quarter worth about $74,000. Pivotal bioVenture Partners Investment Advisor LLC purchased a new position in shares of Iterum Therapeutics in the 4th quarter worth about $935,000. Renaissance Technologies LLC purchased a new position in shares of Iterum Therapeutics in the 4th quarter worth about $725,000. Finally, Virtu Financial LLC purchased a new position in shares of Iterum Therapeutics in the 4th quarter worth about $43,000. 10.14% of the stock is owned by institutional investors and hedge funds.

ITRM has been the subject of a number of research analyst reports. Zacks Investment Research lowered Iterum Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday. HC Wainwright raised Iterum Therapeutics from a “neutral” rating to a “buy” rating and set a $2.50 price target for the company in a research note on Monday, March 22nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $2.90.

About Iterum Therapeutics

Iterum Therapeutics plc, a clinical-stage pharmaceutical company, engages in developing anti-infectives for multi-drug resistant pathogens in Ireland and the United States. It is developing sulopenem, a novel anti-infective compound with oral and IV formulations that is in Phase III clinical trials for the treatment of uncomplicated urinary tract infections, complicated urinary tract infections, and complicated intra-abdominal infections.

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