Phathom Pharmaceuticals (NASDAQ:PHAT) Trading Up 11.8%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) shares were up 11.8% on Monday . The company traded as high as $11.23 and last traded at $11.22. Approximately 489,633 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 809,964 shares. The stock had previously closed at $10.04.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stifel Nicolaus assumed coverage on Phathom Pharmaceuticals in a report on Friday, May 3rd. They set a “buy” rating and a $24.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, May 3rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Phathom Pharmaceuticals Stock Down 1.4 %

The stock has a 50 day simple moving average of $9.80 and a 200 day simple moving average of $8.70. The company has a market cap of $591.05 million, a price-to-earnings ratio of -2.60 and a beta of 0.67.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.12. The firm had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $0.93 million. During the same quarter last year, the company posted ($1.33) earnings per share. As a group, equities research analysts expect that Phathom Pharmaceuticals, Inc. will post -4.22 EPS for the current fiscal year.

Insider Activity

In other Phathom Pharmaceuticals news, insider Terrie Curran sold 16,851 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,742,242.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Molly Henderson sold 3,435 shares of Phathom Pharmaceuticals stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $11.10, for a total value of $38,128.50. Following the completion of the transaction, the chief financial officer now directly owns 95,263 shares in the company, valued at $1,057,419.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Terrie Curran sold 16,851 shares of the business’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 completion of the sale, the insider now directly owns 410,784 shares of the company’s stock, valued at $3,742,242.24. The disclosure for this sale can be found here. Insiders own 24.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PHAT. China Universal Asset Management Co. Ltd. lifted its stake in Phathom Pharmaceuticals by 355.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock worth $60,000 after purchasing an additional 5,171 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Phathom Pharmaceuticals by 371.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock worth $87,000 after purchasing an additional 6,641 shares during the period. DAVENPORT & Co LLC acquired a new stake in Phathom Pharmaceuticals in the fourth quarter worth $91,000. Public Employees Retirement System of Ohio bought a new stake in Phathom Pharmaceuticals in the third quarter valued at $92,000. Finally, Klingman & Associates LLC acquired a new position in shares of Phathom Pharmaceuticals during the first quarter valued at $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.