Phathom Pharmaceuticals (NASDAQ:PHAT) Trading Down 3.4% – What’s Next?

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) traded down 3.4% on Monday . The company traded as low as $14.52 and last traded at $14.58. 145,864 shares were traded during mid-day trading, a decline of 82% from the average session volume of 802,677 shares. The stock had previously closed at $15.09.

Analyst Ratings Changes

A number of analysts recently commented on PHAT shares. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, September 13th. HC Wainwright reiterated a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Monday, August 12th. Finally, The Goldman Sachs Group lifted 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.

Phathom Pharmaceuticals Trading Up 1.2 %

The business has a 50 day simple moving average of $15.76 and a 200-day simple moving average of $12.41. The stock has a market capitalization of $893.83 million, a price-to-earnings ratio of -3.42 and a beta of 0.71.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.35) earnings per share (EPS) 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 analyst estimates of $5.65 million. Research analysts predict that Phathom Pharmaceuticals, Inc. will post -6.03 EPS for the current year.

Institutional Trading of Phathom Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its stake in shares of Phathom Pharmaceuticals by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock valued at $144,000 after purchasing an additional 1,339 shares in the last quarter. Inspirion Wealth Advisors LLC lifted its position in Phathom Pharmaceuticals by 4.3% during the 2nd quarter. Inspirion Wealth Advisors LLC now owns 36,634 shares of the company’s stock worth $377,000 after acquiring an additional 1,500 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Phathom Pharmaceuticals by 12.5% during the 1st 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Phathom Pharmaceuticals by 42.2% during the 2nd 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 in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in Phathom Pharmaceuticals by 65.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,989 shares of the company’s stock worth $117,000 after acquiring an additional 4,363 shares in the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

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.