Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Up 3.9%

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) traded up 3.9% during trading on Wednesday . The company traded as high as $19.50 and last traded at $19.22. 328,342 shares changed hands during trading, a decline of 58% from the average session volume of 782,814 shares. The stock had previously closed at $18.49.

Wall Street Analysts Forecast Growth

PHAT has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, September 13th. The Goldman Sachs Group increased their price target on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Finally, HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Monday, August 12th.

Phathom Pharmaceuticals Stock Performance

The stock’s 50 day simple moving average is $13.72 and its 200 day simple moving average is $11.40. The firm has a market capitalization of $1.15 billion, a P/E ratio of -4.19 and a beta of 0.71.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.39) by $0.04. The firm had revenue of $7.32 million during the quarter, compared to the consensus estimate of $5.65 million. On average, analysts anticipate that Phathom Pharmaceuticals, Inc. will post -6.03 earnings per share for the current year.

Insider Transactions at Phathom Pharmaceuticals

In related news, CFO Molly Henderson sold 4,325 shares of Phathom Pharmaceuticals stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $11.72, for a total value of $50,689.00. Following the completion of the sale, the chief financial officer now directly owns 99,447 shares in the company, valued at $1,165,518.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 33,848 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $396,698.56. Following the completion of the sale, the insider now owns 377,734 shares in the company, valued at $4,427,042.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Molly Henderson sold 4,325 shares of Phathom Pharmaceuticals stock in a transaction on Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $50,689.00. Following the completion of the transaction, the chief financial officer now owns 99,447 shares in the company, valued at $1,165,518.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,074 shares of company stock valued at $575,147. 24.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of hedge funds have recently made changes to their positions in PHAT. Russell Investments Group Ltd. raised its holdings in Phathom Pharmaceuticals by 178.3% in the fourth quarter. Russell Investments Group Ltd. now owns 39,292 shares of the company’s stock worth $359,000 after purchasing an additional 25,172 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Phathom Pharmaceuticals during the fourth quarter valued at approximately $137,000. Decheng Capital LLC purchased a new stake in Phathom Pharmaceuticals during the fourth quarter valued at approximately $7,760,000. Catalys Pacific LLC acquired a new stake in Phathom Pharmaceuticals in the fourth quarter valued at approximately $6,592,000. Finally, Avidity Partners Management LP grew its holdings in Phathom Pharmaceuticals by 6.4% in the fourth quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock worth $15,718,000 after purchasing an additional 104,280 shares during the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals, Inc, biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada for an investigational potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.