Phathom Pharmaceuticals (NASDAQ:PHAT) Trading Down 5.9%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) dropped 5.9% during mid-day trading on Tuesday . The stock traded as low as $10.16 and last traded at $10.20. Approximately 390,238 shares were traded during trading, a decline of 52% from the average daily volume of 807,666 shares. The stock had previously closed at $10.84.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Stifel Nicolaus started coverage on shares of Phathom Pharmaceuticals in a report on Friday. They set a “buy” rating and a $24.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a report on Friday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Phathom Pharmaceuticals Stock Down 5.5 %

The firm has a market cap of $599.24 million, a P/E ratio of -2.79 and a beta of 0.67. The firm has a fifty day moving average of $9.80 and a 200-day moving average of $8.69.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.12. The business had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.93 million. During the same quarter in the prior year, the firm earned ($1.33) EPS. Sell-side analysts anticipate that Phathom Pharmaceuticals, Inc. will post -4.22 EPS for the current year.

Insider Buying and Selling at Phathom Pharmaceuticals

In other news, insider Terrie Curran sold 16,851 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $9.11, for a total value of $153,512.61. Following the transaction, the insider now directly owns 410,784 shares in the company, valued at approximately $3,742,242.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Terrie Curran sold 16,851 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $9.11, for a total value of $153,512.61. Following the sale, the insider now directly owns 410,784 shares in the company, valued at approximately $3,742,242.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Molly Henderson sold 3,435 shares of the business’s 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 transaction, the chief financial officer now owns 95,263 shares of the company’s stock, valued at approximately $1,057,419.30. The disclosure for this sale can be found here. Corporate insiders own 24.10% of the company’s stock.

Institutional Trading of Phathom Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. grew its position in shares of 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 purchasing an additional 5,171 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Phathom Pharmaceuticals by 371.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock valued at $87,000 after purchasing an additional 6,641 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in Phathom Pharmaceuticals in the 4th quarter valued at $91,000. Public Employees Retirement System of Ohio bought a new stake in Phathom Pharmaceuticals during the 3rd quarter worth about $92,000. Finally, Klingman & Associates LLC acquired a new position in shares of Phathom Pharmaceuticals during the 1st quarter worth about $110,000. 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.