Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price Down 1.6%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s share price dropped 1.6% on Friday . The stock traded as low as $19.09 and last traded at $19.19. Approximately 60,575 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 760,178 shares. The stock had previously closed at $19.50.

Wall Street Analyst Weigh In

PHAT has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Monday, August 12th. The Goldman Sachs Group increased their target price on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a report on Friday.

Phathom Pharmaceuticals Stock Down 3.8 %

The company’s fifty day moving average is $13.23 and its 200 day moving average is $11.21. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -4.15 and a beta of 0.71.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.39) by $0.04. The firm had revenue of $7.32 million for the quarter, compared to the consensus estimate of $5.65 million. On average, equities research analysts forecast that Phathom Pharmaceuticals, Inc. will post -6.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Phathom Pharmaceuticals news, insider Terrie Curran sold 33,848 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $396,698.56. Following the sale, the insider now directly owns 377,734 shares of the company’s stock, valued at $4,427,042.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 33,848 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $396,698.56. Following the sale, the insider now directly owns 377,734 shares of the company’s stock, valued at $4,427,042.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Molly Henderson sold 4,325 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $50,689.00. Following the sale, the chief financial officer now directly owns 99,447 shares in the company, valued at $1,165,518.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,074 shares of company stock valued at $575,147. 24.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Phathom Pharmaceuticals by 42.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock valued at $104,000 after purchasing an additional 2,987 shares during the period. Klingman & Associates LLC bought a new position in shares of Phathom Pharmaceuticals in the first quarter valued at about $110,000. China Universal Asset Management Co. Ltd. raised its position in shares of Phathom Pharmaceuticals by 65.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 10,989 shares of the company’s stock valued at $117,000 after purchasing an additional 4,363 shares during the period. State Board of Administration of Florida Retirement System bought a new position in shares of Phathom Pharmaceuticals in the first quarter valued at about $119,000. Finally, LVW Advisors LLC bought a new position in shares of Phathom Pharmaceuticals in the second quarter valued at about $133,000. 99.01% of the stock is 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.