Phathom Pharmaceuticals (NASDAQ:PHAT) Sets New 12-Month High at $19.76

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $19.76 and last traded at $19.76, with a volume of 490 shares trading hands. The stock had previously closed at $19.23.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. HC Wainwright reissued 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 lifted their target price on shares of 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 restated a “buy” rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, September 13th.

Phathom Pharmaceuticals Stock Down 1.5 %

The stock has a market capitalization of $1.10 billion, a PE ratio of -4.18 and a beta of 0.71. The firm has a 50 day moving average price of $14.18 and a 200-day moving average price of $11.56.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.35) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.04. The business had revenue of $7.32 million for the quarter, compared to analyst estimates of $5.65 million. Equities analysts expect that Phathom Pharmaceuticals, Inc. will post -6.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, insider Terrie Curran sold 33,848 shares of the stock in a transaction dated Monday, July 15th. The stock was 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 approximately $4,427,042.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Terrie Curran sold 33,848 shares of Phathom Pharmaceuticals stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 377,734 shares of the company’s stock, valued at approximately $4,427,042.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Molly Henderson sold 4,325 shares of the 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 owned by insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new stake in Phathom Pharmaceuticals in the fourth quarter valued at approximately $137,000. Decheng Capital LLC purchased a new stake in Phathom Pharmaceuticals in the 4th quarter worth $7,760,000. Catalys Pacific LLC acquired a new position in Phathom Pharmaceuticals during the fourth quarter worth $6,592,000. Avidity Partners Management LP lifted its holdings in Phathom Pharmaceuticals by 6.4% during the fourth quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock valued at $15,718,000 after purchasing an additional 104,280 shares in the last quarter. Finally, Octagon Capital Advisors LP acquired a new stake in shares of Phathom Pharmaceuticals in the fourth quarter valued at about $456,000. Institutional investors and hedge funds 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.