Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT – Get Free Report)’s stock price traded up 3.9% during mid-day trading on Wednesday . The stock traded as high as $19.50 and last traded at $19.22. 328,342 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 782,814 shares. The stock had previously closed at $18.49.
Analyst Ratings Changes
Several research firms have recently commented on PHAT. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Monday, August 12th. The Goldman Sachs Group upped their price objective on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, September 13th.
View Our Latest Report on Phathom Pharmaceuticals
Phathom Pharmaceuticals Stock Up 4.1 %
Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.35) EPS for the quarter, topping analysts’ consensus estimates 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. Research analysts anticipate that Phathom Pharmaceuticals, Inc. will post -6.03 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 4,325 shares of Phathom Pharmaceuticals stock in a transaction on Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $50,689.00. Following the sale, the chief financial officer now directly owns 99,447 shares in the company, valued at approximately $1,165,518.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Terrie Curran sold 33,848 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $396,698.56. Following the completion of the transaction, the insider now directly owns 377,734 shares in the company, valued at approximately $4,427,042.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Molly Henderson sold 4,325 shares of the business’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 completion of the sale, the chief financial officer now owns 99,447 shares in the company, valued at approximately $1,165,518.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,074 shares of company stock worth $575,147. 24.10% of the stock is owned by insiders.
Hedge Funds Weigh In On Phathom Pharmaceuticals
Several institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its position in shares of Phathom Pharmaceuticals by 10.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock valued at $144,000 after buying an additional 1,339 shares in the last quarter. Oracle Investment Management Inc. bought a new stake in shares of Phathom Pharmaceuticals in the 2nd quarter valued at approximately $2,318,000. Marshall Wace LLP purchased a new position in shares of Phathom Pharmaceuticals in the 2nd quarter worth approximately $1,161,000. Rhumbline Advisers increased its position in shares of Phathom Pharmaceuticals by 17.1% during the 2nd quarter. Rhumbline Advisers now owns 55,178 shares of the company’s stock valued at $568,000 after purchasing an additional 8,075 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Phathom Pharmaceuticals by 42.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock valued at $104,000 after buying an additional 2,987 shares during the period. Institutional investors own 99.01% of the company’s stock.
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.
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