Iterum Therapeutics (NASDAQ:ITRM) Stock Price Up 2.1% – Here’s Why

Iterum Therapeutics PLC (NASDAQ:ITRM) traded up 2.1% on Tuesday . The stock traded as high as $0.3599 and last traded at $0.3425. 418,814 shares were traded during trading, a decline of 51% from the average session volume of 853,949 shares. The stock had previously closed at $0.3355.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ITRM. Wall Street Zen downgraded Iterum Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Iterum Therapeutics in a research report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.00.

Iterum Therapeutics Stock Up 2.1%

The company has a market cap of $18.25 million, a P/E ratio of -0.46 and a beta of 2.87. The firm’s 50-day moving average price is $0.38 and its 200-day moving average price is $0.59.

Iterum Therapeutics (NASDAQ:ITRM) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). The company had revenue of $0.39 million for the quarter. As a group, analysts forecast that Iterum Therapeutics PLC will post -0.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ITRM. Jane Street Group LLC bought a new position in shares of Iterum Therapeutics in the second quarter valued at approximately $92,000. OneDigital Investment Advisors LLC boosted its holdings in Iterum Therapeutics by 18.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 191,000 shares of the company’s stock valued at $128,000 after purchasing an additional 30,000 shares during the period. Virtu Financial LLC purchased a new position in shares of Iterum Therapeutics during the 3rd quarter valued at $32,000. Finally, Apollon Financial LLC increased its holdings in shares of Iterum Therapeutics by 151.8% in the fourth quarter. Apollon Financial LLC now owns 630,250 shares of the company’s stock worth $211,000 after purchasing an additional 380,000 shares during the period. Hedge funds and other institutional investors own 9.21% of the company’s stock.

About Iterum Therapeutics

Iterum Therapeutics plc is a clinical-stage biopharmaceutical company focused on the development and commercialization of anti-infective products targeting drug-resistant bacterial infections. The company’s research efforts are centered on novel therapeutic agents designed to address serious community-acquired and hospital-acquired infections where current treatment options are limited by emerging resistance.

The company’s lead product candidate, sulopenem, is being evaluated in both intravenous and oral formulations for the treatment of complicated urinary tract infections (cUTI) and intra-abdominal infections (IAI).