Research analysts at Jones Trading have initiated coverage of Armata Pharmaceuticals (NYSEAMERICAN:ARMP), according to a report released on March 15, 2024. The firm has assigned a “buy” rating with a price target of $15.00 per share, indicating a potential upside of approximately 129.71% from the stock’s previous closing price.
On the day of the report, Armata Pharmaceuticals’ stock decreased by $0.03, bringing the trading price to $6.53. A total of 6,693 shares changed hands, significantly lower than the average volume of 15,917 shares. Over the past year, Armata’s stock has fluctuated, with a low of $0.90 and a high of $16.34. The company currently has a market capitalization of $237.76 million and a PE ratio of -4.03, indicating ongoing investment in research and development rather than immediate profitability.
Investor Activity and Market Position
Institutional interest in Armata Pharmaceuticals has also been growing. Recently, GSB Wealth Management LLC acquired a new position in the company during the second quarter of the year. According to their latest disclosure with the SEC, GSB purchased 30,000 shares valued at approximately $57,000. Following this acquisition, institutional investors collectively own about 3.57% of the company’s stock.
Armata Pharmaceuticals is focused on developing targeted bacteriophage therapies for antibiotic-resistant infections. Its innovative approach utilizes naturally occurring viruses to selectively infect and eliminate bacteria that contribute to serious health issues in both hospital and community settings. The company’s pipeline includes candidates targeting Pseudomonas aeruginosa, a common culprit of hospital-acquired pneumonia, as well as Staphylococcus aureus and other significant pathogens.
As the demand for effective treatments against resistant bacteria continues to rise, Armata’s research efforts position it as a key player in the biotechnology sector. With the backing of analysts like Jones Trading and increasing institutional investment, the company is poised to make strides in addressing critical public health challenges.
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