Short Interest in Iterum Therapeutics PLC (NASDAQ:ITRM) Drops By 22.3%

Iterum Therapeutics PLC (NASDAQ:ITRM) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 1,220,000 shares, a decrease of 22.3% from the August 15th total of 1,570,000 shares. Based on an average daily volume of 807,900 shares, the short-interest ratio is presently 1.5 days. Currently, 2.8% of the company’s stock are sold short. Currently, 2.8% of the company’s stock are sold short. Based on an average daily volume of 807,900 shares, the short-interest ratio is presently 1.5 days.

Iterum Therapeutics Stock Performance

Shares of ITRM opened at $0.67 on Friday. The business’s 50-day moving average is $0.76 and its two-hundred day moving average is $0.98. The company has a market capitalization of $31.60 million, a P/E ratio of -0.79 and a beta of 3.04. Iterum Therapeutics has a fifty-two week low of $0.61 and a fifty-two week high of $3.02.

Iterum Therapeutics (NASDAQ:ITRM) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Analysts forecast that Iterum Therapeutics will post -0.86 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Iterum Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $9.00.

Hedge Funds Weigh In On Iterum Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ITRM. OneDigital Investment Advisors LLC purchased a new position in shares of Iterum Therapeutics in the 1st quarter valued at about $124,000. Jane Street Group LLC purchased a new position in shares of Iterum Therapeutics in the 2nd quarter valued at about $92,000. Two Sigma Investments LP purchased a new position in shares of Iterum Therapeutics in the 4th quarter valued at about $45,000. Finally, Citadel Advisors LLC purchased a new position in shares of Iterum Therapeutics in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 9.21% of the company’s stock.

About Iterum Therapeutics

Iterum Therapeutics plc, a clinical-stage pharmaceutical company, engages in developing and commercializing anti-infectives in Ireland, Bermuda, and the United States. It is developing sulopenem, a novel anti-infective compound with oral and intravenous 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.