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

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Iterum Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. OneDigital Investment Advisors LLC bought a new stake in Iterum Therapeutics in the 1st quarter valued at about $124,000. Jane Street Group LLC bought a new stake in Iterum Therapeutics in the 2nd quarter valued at about $92,000. Two Sigma Investments LP bought a new stake in Iterum Therapeutics in the 4th quarter valued at about $45,000. Finally, Citadel Advisors LLC bought a new stake in Iterum Therapeutics in the 4th quarter valued at about $38,000. 9.21% of the stock is owned by hedge funds and other institutional investors.

Iterum Therapeutics Stock Performance

Shares of NASDAQ:ITRM opened at $0.67 on Thursday. The company’s 50-day moving average is $0.77 and its 200 day moving average is $0.99. The company has a market capitalization of $31.61 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 issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). As a group, research analysts predict that Iterum Therapeutics will post -0.86 earnings per share for the current year.

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.