Armata Pharmaceuticals (NYSEAMERICAN:ARMP) Shares Down 1.1% - Here's Why

Key Points

• Armata Pharmaceuticals shares declined by 1.1% during trading, reaching a low of $2.81, with a total volume of around 10,950 shares.
• Analysts at HC Wainwright raised their price target for the company from $7.00 to $9.00, maintaining a "buy" rating.
• GSB Wealth Management LLC acquired 30,000 shares of Armata Pharmaceuticals, representing an investment of approximately $57,000.

Armata Pharmaceuticals, Inc. (NYSEAMERICAN:ARMP - Get Free Report) shares were down 1.1% during trading on Monday . The company traded as low as $2.81 and last traded at $2.82. Approximately 10,950 shares traded hands during trading, a decline of 15% from the average daily volume of 12,854 shares. The stock had previously closed at $2.85.

Analysts Set New Price Targets

Separately, HC Wainwright upped their target price on Armata Pharmaceuticals from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $9.00.

Armata Pharmaceuticals Price Performance

The company has a market capitalization of $102.17 million, a P/E ratio of -2.74 and a beta of 1.09. The business's fifty day moving average price is $2.45.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Armata Pharmaceuticals stock. GSB Wealth Management LLC bought a new position in Armata Pharmaceuticals, Inc. (NYSEAMERICAN:ARMP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 30,000 shares of the company's stock, valued at approximately $57,000. GSB Wealth Management LLC owned about 0.08% of Armata Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 3.57% of the company's stock.

Armata Pharmaceuticals Company Profile

Armata Pharmaceuticals, Inc, a clinical-stage biotechnology company, focuses on the development of targeted bacteriophage therapeutics for antibiotic-resistant infections worldwide. It develops its products using its proprietary bacteriophage-based technology. The company's product candidates include AP-SA02 for the treatment of Staphylococcus aureus bacteremia; AP-PA02 for Pseudomonas aeruginosa; and AP-PA03 for the treatment of pneumonia.

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