Iterum Therapeutics (NASDAQ:ITRM) is in the news Thursday following news of massive stakes in the company pushing ITRM stock higher.
A filing with the U.S. Securities and Exchange Commission (SEC) reveals that several members connected to RA Capital Management have taken a stake in the company. This has resulted in these new investors owning more than 73% of ITRM stock.
Let’s break this Iterum Therapeutics news down below.
- Starting off, RA Capital Management, which is based out of Delaware, now holds 10 million shares of ITRM stock. This gives it an 18.9% stake in Iterum Therapeutics.
- Next up is RA Capital Management managing partner Peter Kolchinsky, who also bought 10 million shares of the stock. That also nets him an 18.9% stake in the company.
- Now we move on to Rajeev Shah, another managing partner at RA Capital Management. Likewise, he now holds 10 million shares of ITRM stock and an 18.9% stake in the company.
- Finally, we have RA Capital Healthcare Fund picking up 8,486,000 shares of Iterum Therapeutics’ stock. That has it holding a 16.5% stake in the company.
The recent activity has caught the attention of investors. Shares of ITRM stock have seen massive amounts of trading in the early hours of today. As of this writing, more than 79 million shares have changed hands. That’s quite the jump from the company’s daily average trading volume of 6.65 million shares.
ITRM stock was up 41.5% as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.