Phathom Pharmaceuticals (NASDAQ:PHAT) Trading Down 6.9%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s stock price was down 6.9% on Tuesday . The company traded as low as $16.71 and last traded at $16.84. Approximately 773,478 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 795,546 shares. The stock had previously closed at $18.08.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. The Goldman Sachs Group raised their price target on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Needham & Company LLC restated a “buy” rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, September 13th. Finally, HC Wainwright restated a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Monday, August 12th.

Phathom Pharmaceuticals Stock Down 6.1 %

The company’s 50-day moving average price is $14.88 and its 200-day moving average price is $11.97. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -3.81 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 for the quarter, topping the consensus estimate of ($1.39) by $0.04. The business had revenue of $7.32 million during the quarter, compared to analysts’ expectations of $5.65 million. Analysts predict that Phathom Pharmaceuticals, Inc. will post -6.03 earnings per share for the current fiscal year.

Insider Transactions at Phathom Pharmaceuticals

In other news, CFO Molly Henderson sold 4,325 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $50,689.00. Following the transaction, the chief financial officer now directly owns 99,447 shares of the company’s stock, valued at $1,165,518.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Phathom Pharmaceuticals news, COO Azmi Nabulsi sold 10,901 shares of Phathom Pharmaceuticals stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $127,759.72. Following the transaction, the chief operating officer now directly owns 240,421 shares of the company’s stock, valued at $2,817,734.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Molly Henderson sold 4,325 shares of Phathom Pharmaceuticals stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $50,689.00. Following the transaction, 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. Corporate insiders own 24.10% of the company’s stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in PHAT. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Phathom Pharmaceuticals by 42.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock valued at $104,000 after acquiring an additional 2,987 shares during the period. Klingman & Associates LLC purchased a new stake in shares of Phathom Pharmaceuticals in the 1st quarter valued at approximately $110,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Phathom Pharmaceuticals by 65.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,989 shares of the company’s stock valued at $117,000 after acquiring an additional 4,363 shares during the period. State Board of Administration of Florida Retirement System purchased a new stake in shares of Phathom Pharmaceuticals in the 1st quarter valued at approximately $119,000. Finally, LVW Advisors LLC purchased a new stake in shares of Phathom Pharmaceuticals in the 2nd quarter valued at approximately $133,000. 99.01% of the stock is owned by hedge funds and other 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.