Phathom Pharmaceuticals (NASDAQ:PHAT) Trading 10.9% Higher

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) shares traded up 10.9% during mid-day trading on Thursday . The company traded as high as $12.03 and last traded at $11.99. 351,850 shares traded hands during trading, a decline of 52% from the average session volume of 736,186 shares. The stock had previously closed at $10.81.

Wall Street Analyst Weigh In

Several research firms have recently commented on PHAT. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, July 26th. HC Wainwright reissued a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, July 19th. The Goldman Sachs Group increased their price objective on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals in a research note on Friday, May 3rd. They set a “buy” rating and a $24.00 price target on the stock.

Phathom Pharmaceuticals Price Performance

The stock has a fifty day moving average of $11.09 and a two-hundred day moving average of $9.95. The stock has a market cap of $687.79 million, a price-to-earnings ratio of -2.66 and a beta of 0.68.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its earnings results on Thursday, May 9th. The company reported ($1.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.01. The business had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.76 million. Equities research analysts anticipate that Phathom Pharmaceuticals, Inc. will post -5.57 EPS for the current fiscal year.

Insider Activity at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, COO Azmi Nabulsi sold 10,901 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 value of $127,759.72. Following the completion of the sale, the chief operating officer now owns 240,421 shares of the company’s stock, valued at $2,817,734.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Azmi Nabulsi sold 10,901 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $127,759.72. Following the completion of the sale, the chief operating officer now directly owns 240,421 shares in the company, valued at $2,817,734.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Molly Henderson sold 4,325 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $11.72, for a total value of $50,689.00. Following the completion of the transaction, the chief financial officer now owns 99,447 shares in the company, valued at approximately $1,165,518.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,074 shares of company stock worth $575,147. 24.10% of the stock is currently owned by company insiders.

Institutional Trading of Phathom Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Medicxi Ventures Management Jersey Ltd grew its stake in Phathom Pharmaceuticals by 98.5% in the first quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock worth $79,274,000 after purchasing an additional 3,703,703 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Phathom Pharmaceuticals during the 1st quarter valued at approximately $17,499,000. Decheng Capital LLC bought a new position in Phathom Pharmaceuticals during the fourth quarter worth $7,760,000. Catalys Pacific LLC acquired a new position in Phathom Pharmaceuticals in the fourth quarter worth $6,592,000. Finally, Propel Bio Management LLC raised its holdings in shares of Phathom Pharmaceuticals by 96.4% during the first quarter. Propel Bio Management LLC now owns 869,927 shares of the company’s stock worth $9,239,000 after purchasing an additional 426,880 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

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.