Needham & Company LLC restated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT – Free Report) in a research note published on Monday morning, Benzinga reports. The firm currently has a $26.00 target price on the stock.
PHAT has been the subject of several other reports. Stifel Nicolaus began coverage on shares of Phathom Pharmaceuticals in a report on Friday, May 3rd. They issued a buy rating and a $24.00 target price for the company. The Goldman Sachs Group increased their target price on shares of 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 reissued a buy rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Monday, August 12th.
View Our Latest Stock Report on Phathom Pharmaceuticals
Phathom Pharmaceuticals Stock Up 1.8 %
Insider Buying and Selling at Phathom Pharmaceuticals
In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 4,325 shares of the 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 completion of the sale, the chief financial officer now directly owns 99,447 shares of the company’s stock, valued at approximately $1,165,518.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 4,325 shares of the 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 completion of the sale, the chief financial officer now directly owns 99,447 shares of the company’s stock, valued at approximately $1,165,518.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Terrie Curran sold 33,848 shares of the 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 $396,698.56. Following the sale, the insider now directly owns 377,734 shares of the company’s stock, valued at $4,427,042.48. The disclosure for this sale can be found here. Insiders sold a total of 49,074 shares of company stock valued at $575,147 in the last three months. 24.10% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Medicxi Ventures Management Jersey Ltd boosted its position in shares of 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 acquiring an additional 3,703,703 shares during the last quarter. Vanguard Group Inc. lifted its position in Phathom Pharmaceuticals by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,979,113 shares of the company’s stock worth $21,018,000 after buying an additional 22,684 shares during the last quarter. Avidity Partners Management LP lifted its position 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 buying an additional 104,280 shares during the last quarter. Jennison Associates LLC bought a new stake in Phathom Pharmaceuticals in the first quarter worth $17,499,000. Finally, Propel Bio Management LLC lifted its position in Phathom Pharmaceuticals by 96.4% in the first quarter. Propel Bio Management LLC now owns 869,927 shares of the company’s stock worth $9,239,000 after buying an additional 426,880 shares during the last quarter. 99.01% of the stock is currently 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.
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