Phathom Pharmaceuticals (NASDAQ:PHAT) Sets New 52-Week High at $15.84

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s share price hit a new 52-week high on Wednesday . The company traded as high as $15.84 and last traded at $15.72, with a volume of 1193990 shares changing hands. The stock had previously closed at $13.94.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a report on Monday, August 19th. Stifel Nicolaus initiated coverage on Phathom Pharmaceuticals in a research note on Friday, May 3rd. They set a “buy” rating and a $24.00 price target on the stock. The Goldman Sachs Group raised their price objective on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a research 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 research report on Monday, August 12th.

Phathom Pharmaceuticals Stock Up 12.8 %

The company has a market capitalization of $920.17 million, a price-to-earnings ratio of -3.56 and a beta of 0.68. The business has a fifty day simple moving average of $11.56 and a two-hundred day simple moving average of $10.45.

Insider Activity at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, COO Azmi Nabulsi sold 10,901 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $127,759.72. Following the completion of the transaction, the chief operating officer now directly owns 240,421 shares in the company, valued at $2,817,734.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Phathom Pharmaceuticals news, COO Azmi Nabulsi sold 10,901 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $127,759.72. Following the transaction, the chief operating officer now directly owns 240,421 shares in the company, valued at $2,817,734.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Terrie Curran sold 33,848 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 377,734 shares of the company’s stock, valued at approximately $4,427,042.48. The disclosure for this sale can be found here. Insiders have sold a total of 49,074 shares of company stock valued at $575,147 in the last 90 days. 24.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several institutional investors have recently bought and sold shares of PHAT. The Manufacturers Life Insurance Company increased its stake in shares of Phathom Pharmaceuticals by 10.6% in the second quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock valued at $144,000 after buying an additional 1,339 shares in the last quarter. Inspirion Wealth Advisors LLC increased its position in Phathom Pharmaceuticals by 4.3% in the 2nd quarter. Inspirion Wealth Advisors LLC now owns 36,634 shares of the company’s stock valued at $377,000 after acquiring an additional 1,500 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Phathom Pharmaceuticals by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,573 shares of the company’s stock worth $208,000 after acquiring an additional 2,172 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Phathom Pharmaceuticals by 42.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock worth $104,000 after acquiring an additional 2,987 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Phathom Pharmaceuticals by 65.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 10,989 shares of the company’s stock worth $117,000 after purchasing an additional 4,363 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

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.