Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Up 4.8%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) shares traded up 4.8% during mid-day trading on Thursday . The stock traded as high as $17.56 and last traded at $17.56. 126,570 shares were traded during trading, a decline of 84% from the average session volume of 796,487 shares. The stock had previously closed at $16.76.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, September 13th. HC Wainwright restated a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Monday, August 12th. Finally, The Goldman Sachs Group raised their price target on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th.

Phathom Pharmaceuticals Stock Performance

The stock has a market capitalization of $1.11 billion, a P/E ratio of -4.04 and a beta of 0.71. The stock has a 50-day moving average price of $15.08 and a two-hundred day moving average price of $12.07.

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

Insider Buying and Selling

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 4,325 shares of the company’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 $50,689.00. Following the transaction, the chief financial officer now owns 99,447 shares in the company, valued at approximately $1,165,518.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Terrie Curran sold 33,848 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 transaction of $396,698.56. Following the sale, the insider now owns 377,734 shares of the company’s stock, valued at $4,427,042.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Molly Henderson sold 4,325 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $50,689.00. Following the transaction, the chief financial officer now directly owns 99,447 shares of the company’s stock, valued at approximately $1,165,518.84. The disclosure for this sale can be found here. Insiders sold a total of 49,074 shares of company stock valued at $575,147 over the last three months. Corporate insiders own 24.10% of the company’s stock.

Institutional Trading of Phathom Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Catalys Pacific LLC bought a new position in Phathom Pharmaceuticals during the 4th quarter valued at approximately $6,592,000. Avidity Partners Management LP raised its position in shares of Phathom Pharmaceuticals by 6.4% in the 4th 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. Octagon Capital Advisors LP bought a new position in Phathom Pharmaceuticals in the 4th quarter worth about $456,000. Wellington Management Group LLP boosted its stake in Phathom Pharmaceuticals by 54.7% in the 4th quarter. Wellington Management Group LLP now owns 154,391 shares of the company’s stock worth $1,410,000 after purchasing an additional 54,581 shares in the last quarter. Finally, Medicxi Ventures Management Jersey Ltd grew its position in Phathom Pharmaceuticals by 98.5% during the 1st quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock valued at $79,274,000 after purchasing an additional 3,703,703 shares during the last quarter. 99.01% of the stock is owned by institutional investors.

Phathom Pharmaceuticals Company Profile

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.