Iterum Therapeutics (NASDAQ:ITRM) Downgraded by Maxim Group to “Hold”

Iterum Therapeutics (NASDAQ:ITRM) was downgraded by equities researchers at Maxim Group from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

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

Iterum Therapeutics Stock Up 12.2%

Shares of NASDAQ:ITRM opened at $0.17 on Wednesday. The company has a market cap of $8.98 million, a price-to-earnings ratio of -0.22 and a beta of 2.96. The firm’s 50-day simple moving average is $0.30 and its 200-day simple moving average is $0.50. Iterum Therapeutics has a fifty-two week low of $0.14 and a fifty-two week high of $1.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. OneDigital Investment Advisors LLC raised its stake in shares of Iterum Therapeutics by 18.6% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 191,000 shares of the company’s stock worth $128,000 after buying an additional 30,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in Iterum Therapeutics in the 3rd quarter valued at about $32,000. Jane Street Group LLC purchased a new position in Iterum Therapeutics during the 2nd quarter valued at about $92,000. Alchemi Wealth LLC purchased a new position in Iterum Therapeutics during the 4th quarter valued at about $90,000. Finally, Apollon Financial LLC raised its position in Iterum Therapeutics by 151.8% during the fourth quarter. Apollon Financial LLC now owns 630,250 shares of the company’s stock worth $211,000 after acquiring an additional 380,000 shares during the last quarter. Hedge funds and other institutional investors own 9.21% of the company’s stock.

Iterum Therapeutics Company Profile

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).