Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Director Acquires $99,125.00 in Stock

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Director Frank Karbe purchased 12,500 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $7.93 per share, for a total transaction of $99,125.00. Following the completion of the transaction, the director now directly owns 57,000 shares of the company’s stock, valued at $452,010. The trade was a 28.09 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Phathom Pharmaceuticals Price Performance

NASDAQ:PHAT opened at $7.99 on Thursday. The company’s 50-day moving average is $12.43 and its two-hundred day moving average is $13.12. Phathom Pharmaceuticals, Inc. has a 1-year low of $6.07 and a 1-year high of $19.71. The firm has a market capitalization of $546.33 million, a price-to-earnings ratio of -1.40 and a beta of 0.56.

Analyst Upgrades and Downgrades

PHAT has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Wednesday, December 11th.

Institutional Trading of Phathom Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Eagle Asset Management Inc. increased its stake in Phathom Pharmaceuticals by 25.9% during the third quarter. Eagle Asset Management Inc. now owns 455,196 shares of the company’s stock worth $7,675,000 after acquiring an additional 93,733 shares during the last quarter. FMR LLC grew its holdings in shares of Phathom Pharmaceuticals by 49,000.7% during the 3rd quarter. FMR LLC now owns 1,304,114 shares of the company’s stock worth $23,578,000 after purchasing an additional 1,301,458 shares during the period. Oracle Investment Management Inc. acquired a new stake in shares of Phathom Pharmaceuticals during the 2nd quarter worth about $2,318,000. Point72 Asset Management L.P. purchased a new stake in Phathom Pharmaceuticals in the 3rd quarter valued at about $7,952,000. Finally, Jennison Associates LLC lifted its position in Phathom Pharmaceuticals by 112.7% in the third quarter. Jennison Associates LLC now owns 5,866,389 shares of the company’s stock valued at $106,064,000 after buying an additional 3,108,810 shares during the last quarter. Hedge funds and other 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.