Phathom Pharmaceuticals (NASDAQ:PHAT) Trading Up 7.9%

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) traded up 7.9% during mid-day trading on Tuesday . The company traded as high as $12.75 and last traded at $12.62. 414,311 shares were traded during trading, a decline of 44% from the average session volume of 733,711 shares. The stock had previously closed at $11.70.

Wall Street Analyst Weigh In

Several research firms have recently commented on PHAT. HC Wainwright restated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, May 10th. Stifel Nicolaus assumed coverage on Phathom Pharmaceuticals in a research report on Friday, May 3rd. They issued a “buy” rating and a $24.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday.

Phathom Pharmaceuticals Trading Up 1.5 %

The company has a market cap of $694.75 million, a PE ratio of -2.85 and a beta of 0.67. The business’s 50 day moving average is $10.19 and its two-hundred day moving average is $9.21.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.42) EPS for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.01. The business had revenue of $1.91 million for the quarter, compared to the consensus estimate of $2.76 million. As a group, equities research analysts predict that Phathom Pharmaceuticals, Inc. will post -5.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 3,435 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $11.10, for a total transaction of $38,128.50. Following the completion of the sale, the chief financial officer now directly owns 95,263 shares of the company’s stock, valued at approximately $1,057,419.30. 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 3,435 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $11.10, for a total value of $38,128.50. Following the sale, the chief financial officer now owns 95,263 shares in the company, valued at approximately $1,057,419.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Terrie Curran sold 16,851 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $9.11, for a total value of $153,512.61. Following the transaction, the insider now owns 410,784 shares of the company’s stock, valued at approximately $3,742,242.24. The disclosure for this sale can be found here. 24.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its position in Phathom Pharmaceuticals by 355.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock valued at $60,000 after buying an additional 5,171 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Phathom Pharmaceuticals in the third quarter valued at approximately $92,000. DAVENPORT & Co LLC bought a new position in Phathom Pharmaceuticals in the fourth quarter worth approximately $91,000. Klingman & Associates LLC purchased a new position in Phathom Pharmaceuticals during the 1st quarter worth $110,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in Phathom Pharmaceuticals during the 1st quarter worth $119,000. 99.01% of the stock is currently owned by institutional investors.

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.