Short Interest in Iterum Therapeutics PLC (NASDAQ:ITRM) Grows By 49.9%

Iterum Therapeutics PLC (NASDAQ:ITRM) was the target of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 3,065,983 shares, an increase of 49.9% from the February 26th total of 2,045,972 shares. Based on an average daily volume of 2,768,177 shares, the days-to-cover ratio is presently 1.1 days. Approximately 5.9% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ITRM. Alchemi Wealth LLC bought a new position in shares of Iterum Therapeutics during the 4th quarter worth approximately $90,000. Jane Street Group LLC grew its stake in Iterum Therapeutics by 1,893.5% during the 4th quarter. Jane Street Group LLC now owns 289,410 shares of the company’s stock worth $97,000 after buying an additional 274,892 shares during the last quarter. Apollon Financial LLC raised its stake in Iterum Therapeutics by 151.8% in the fourth quarter. Apollon Financial LLC now owns 630,250 shares of the company’s stock valued at $211,000 after buying an additional 380,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in Iterum Therapeutics in the third quarter worth about $32,000. Finally, OneDigital Investment Advisors LLC increased its holdings in shares of Iterum Therapeutics by 18.6% during the third quarter. OneDigital Investment Advisors LLC now owns 191,000 shares of the company’s stock valued at $128,000 after acquiring an additional 30,000 shares in the last quarter. Hedge funds and other institutional investors own 9.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ITRM shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Iterum Therapeutics in a report on Monday, December 22nd. Maxim Group cut Iterum Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.00.

Iterum Therapeutics Trading Down 79.8%

Shares of ITRM traded down $0.14 during trading hours on Friday, hitting $0.04. The company had a trading volume of 70,752,790 shares, compared to its average volume of 1,613,413. The company has a market capitalization of $1.90 million, a PE ratio of -0.05 and a beta of 2.96. Iterum Therapeutics has a one year low of $0.03 and a one year high of $1.42. The company’s fifty day moving average price is $0.24 and its two-hundred day moving average price is $0.43.

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).