Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Down 3.7%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s share price was down 3.7% during mid-day trading on Friday . The stock traded as low as $9.10 and last traded at $9.13. Approximately 111,017 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 842,120 shares. The stock had previously closed at $9.48.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a research report on Thursday, April 11th.

Phathom Pharmaceuticals Stock Down 4.2 %

The company has a market cap of $531.36 million, a PE ratio of -2.31 and a beta of 0.63. The business’s fifty day moving average is $9.60 and its 200-day moving average is $8.75.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its earnings results on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.12. The firm had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.93 million. During the same quarter in the previous year, the business posted ($1.33) EPS. Analysts forecast that Phathom Pharmaceuticals, Inc. will post -4.22 EPS for the current fiscal year.

Insider Activity at Phathom Pharmaceuticals

In related news, CFO Molly Henderson sold 3,435 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $11.10, for a total value of $38,128.50. Following the completion of the transaction, the chief financial officer now directly owns 95,263 shares of the company’s stock, valued at $1,057,419.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Phathom Pharmaceuticals news, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of Phathom Pharmaceuticals stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $8.10, for a total transaction of $29,999,994.30. Following the completion of the transaction, the insider now directly owns 3,755,583 shares of the company’s stock, valued at $30,420,222.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Molly Henderson sold 3,435 shares of Phathom Pharmaceuticals stock in a transaction on Monday, April 8th. The stock was sold at an average price of $11.10, for a total transaction of $38,128.50. Following the transaction, the chief financial officer now directly owns 95,263 shares of the company’s stock, valued at $1,057,419.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,723,989 shares of company stock valued at $30,191,635. 27.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PHAT. Quantbot Technologies LP boosted its stake in Phathom Pharmaceuticals by 112.6% during the second quarter. Quantbot Technologies LP now owns 5,527 shares of the company’s stock worth $46,000 after buying an additional 2,927 shares during the period. Legal & General Group Plc boosted its stake in shares of Phathom Pharmaceuticals by 20.1% during the second quarter. Legal & General Group Plc now owns 6,328 shares of the company’s stock valued at $54,000 after purchasing an additional 1,061 shares during the period. Osaic Holdings Inc. boosted its stake in shares of Phathom Pharmaceuticals by 2,715.2% during the second quarter. Osaic Holdings Inc. now owns 4,251 shares of the company’s stock valued at $59,000 after purchasing an additional 4,100 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Phathom Pharmaceuticals by 355.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock valued at $60,000 after purchasing an additional 5,171 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Phathom Pharmaceuticals by 371.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock valued at $87,000 after purchasing an additional 6,641 shares during the period. 99.01% of the stock is 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.