Armata Pharmaceuticals (NYSEAMERICAN:ARMP) Stock Price Down 3.6% - Here's Why

Key Points

• Armata Pharmaceuticals stock fell by 3.6% to trade at $2.39, marking a significant decline from its previous close of $2.48, with trading volume down by 65% from the average.
• HC Wainwright raised its target price on Armata shares from $7.00 to $9.00 and assigned a "buy" rating, indicating positive analyst sentiment.
• GSB Wealth Management LLC acquired a new stake of 30,000 shares in Armata Pharmaceuticals, valued at approximately $57,000, increasing institutional ownership to 3.57% of the company.

Armata Pharmaceuticals, Inc. (NYSEAMERICAN:ARMP - Get Free Report) shares dropped 3.6% during mid-day trading on Friday . The company traded as low as $2.35 and last traded at $2.39. Approximately 5,235 shares traded hands during trading, a decline of 65% from the average daily volume of 15,090 shares. The stock had previously closed at $2.48.

Analyst Ratings Changes

Separately, HC Wainwright increased their target price on shares of Armata Pharmaceuticals from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Monday, May 19th.

Armata Pharmaceuticals Trading Down 3.6%

The stock's 50-day moving average is $2.08. The stock has a market cap of $86.49 million, a PE ratio of -2.88 and a beta of 0.94.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Armata Pharmaceuticals stock. GSB Wealth Management LLC acquired a new stake in Armata Pharmaceuticals, Inc. (NYSEAMERICAN:ARMP - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 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 SEC. Institutional investors own 3.57% of the company's stock.

About Armata Pharmaceuticals

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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