Phathom Pharmaceuticals (NASDAQ:PHAT) Trading Down 10.2% – What’s Next?

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) traded down 10.2% during mid-day trading on Monday . The company traded as low as $11.70 and last traded at $11.32. Approximately 411,253 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 1,186,402 shares. The stock had previously closed at $12.61.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays raised shares of Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $16.00 to $18.00 in a research report on Friday, March 27th. HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a research report on Wednesday, June 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Phathom Pharmaceuticals Trading Down 11.0%

The firm has a market capitalization of $895.31 million, a price-to-earnings ratio of -5.28 and a beta of 0.49. The firm has a fifty day moving average price of $11.09 and a 200 day moving average price of $12.28.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PHAT. Caitong International Asset Management Co. Ltd bought a new stake in Phathom Pharmaceuticals during the 4th quarter worth about $27,000. Kestra Advisory Services LLC bought a new stake in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $38,000. Summit Securities Group LLC acquired a new stake in shares of Phathom Pharmaceuticals in the first quarter valued at approximately $34,000. Raymond James Financial Inc. acquired a new stake in shares of Phathom Pharmaceuticals in the second quarter valued at approximately $30,000. Finally, State of Wyoming bought a new position in Phathom Pharmaceuticals in the 1st quarter worth approximately $55,000. 99.01% of the stock is owned by institutional investors.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company’s core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom’s research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company’s lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.