Iterum Therapeutics plc [ITRM] moved down -19.24: Why It’s Important

Iterum Therapeutics plc [NASDAQ: ITRM] traded at a low on 08/17/22, posting a -19.24 loss after which it closed the day’ session at $0.22. The company report on August 16, 2022 that Iterum Therapeutics Announces Date of 1-for-15 Reverse Share Split.

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Iterum Therapeutics plc (Nasdaq: ITRM), a clinical-stage pharmaceutical company focused on developing next generation oral and IV antibiotics to treat infections caused by multi-drug resistant pathogens in both community and hospital settings, announced today that it will effect a 1-for-15 reverse share split of its outstanding ordinary shares at 5.00 p.m. Eastern Time on August 17, 2022, which will be effective for trading purposes on the Nasdaq Capital Market as of the commencement of trading on August 18, 2022.

At the Annual General Meeting of Shareholders on June 15, 2022, the Company’s shareholders approved, subject to and conditional upon the Board of Directors of the Company determining, in its sole discretion, that a reverse share split is necessary for the Company to comply with the minimum $1.00 per share requirement pursuant to Nasdaq Listing Rule 5550(a)(2) (“Bid Price Rule”), a reverse share split (i.e., a consolidation of share capital under Irish law) whereby every fifteen ordinary shares of $0.01 (nominal value) each in the authorized and unissued and authorized and issued share capital of the Company be consolidated into one ordinary share of $0.15 (nominal value) each, and the subsequent reduction in the nominal value of the ordinary shares in the authorized and unissued and authorized and issued share capital of the Company from $0.15 each to $0.01 each. The Company’s Board of Directors subsequently determined that the reverse share split was necessary for the Company to comply with the Bid Price Rule.

The results of the trading session contributed to over 5266397 shares changing hands. Over the past one week, the price volatility of Iterum Therapeutics plc stands at 9.68% while the volatility over the past one month is 11.26%.

The market cap for ITRM stock reached $39.12 million, with 182.78 million shares outstanding and 182.20 million shares in the current float. Compared to the average trading volume of 4.02M shares, ITRM reached a trading volume of 5266397 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Iterum Therapeutics plc [ITRM]?

Gabelli & Co have made an estimate for Iterum Therapeutics plc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 28, 2021. The new note on the price target was released on March 15, 2021, representing the official price target for Iterum Therapeutics plc stock. Previously, the target price had yet another drop from $7 to $2, while RBC Capital Mkts kept a Sector Perform rating on ITRM stock.

The Average True Range (ATR) for Iterum Therapeutics plc is set at 0.03 The Price to Book ratio for the last quarter was 0.77, with the Price to Cash per share for the same quarter was set at 0.39.

How has ITRM stock performed recently?

Iterum Therapeutics plc [ITRM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.91. With this latest performance, ITRM shares dropped by -15.71% in over the last four-week period, additionally sinking by -44.61% over the last 6 months – not to mention a drop of -67.10% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ITRM stock in for the last two-week period is set at 42.52, with the RSI for the last a single of trading hit 37.69, and the three-weeks RSI is set at 44.94 for Iterum Therapeutics plc [ITRM]. The present Moving Average for the last 50 days of trading for this stock 0.2386, while it was recorded at 0.2574 for the last single week of trading, and 0.3451 for the last 200 days.

Iterum Therapeutics plc [ITRM]: Deeper insight into the fundamentals

Iterum Therapeutics plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.50 and a Current Ratio set at 9.50.

Insider trade positions for Iterum Therapeutics plc [ITRM]

There are presently around $1 million, or 3.70% of ITRM stock, in the hands of institutional investors. The top three institutional holders of ITRM stocks are: CANAAN PARTNERS X LLC with ownership of 1,733,170, which is approximately 0% of the company’s market cap and around 0.60% of the total institutional ownership; NEW LEAF VENTURE PARTNERS, L.L.C., holding 1,456,303 shares of the stock with an approximate value of $0.32 million in ITRM stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $72000.0 in ITRM stock with ownership of nearly 199.075% of the company’s market capitalization.

Positions in Iterum Therapeutics plc stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 11 institutional holders increased their position in Iterum Therapeutics plc [NASDAQ:ITRM] by around 1,234,724 shares. Additionally, 15 investors decreased positions by around 447,859 shares, while 20 investors held positions by with 4,193,456 shares. The mentioned changes placed institutional holdings at 5,876,039 shares, according to the latest SEC report filing. ITRM stock had 7 new institutional investments in for a total of 972,704 shares, while 10 institutional investors sold positions of 115,439 shares during the same period.


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