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

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)'s share price fell 3.6% during trading on Friday . The company traded as low as $2.35 and last traded at $2.39. 5,235 shares changed hands during trading, a decline of 65% from the average session volume of 15,090 shares. The stock had previously closed at $2.48.

Wall Street Analyst Weigh In

Separately, HC Wainwright increased their price objective on Armata Pharmaceuticals from $7.00 to $9.00 and gave the stock a "buy" rating in a report on Monday, May 19th.

Armata Pharmaceuticals Trading Down 0.3%

The company has a 50 day moving average price of $2.08. The company has a market capitalization of $85.92 million, a PE ratio of -2.86 and a beta of 0.94.

Institutional Trading of Armata Pharmaceuticals

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 second quarter, according to the company in its most recent filing with the SEC. The fund bought 30,000 shares of the company's stock, valued at approximately $57,000. GSB Wealth Management LLC owned 0.08% of Armata Pharmaceuticals as of its most recent filing with the SEC. 3.57% of the stock is owned by institutional investors.

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.