Phathom Pharmaceuticals (NASDAQ:PHAT) Sets New 1-Year Low – What’s Next?

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) reached a new 52-week low on Friday . The company traded as low as $8.21 and last traded at $8.1830, with a volume of 149759 shares changing hands. The stock had previously closed at $8.37.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Friday, July 17th. Craig Hallum reaffirmed a “buy” rating and issued a $20.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, July 31st. HC Wainwright reissued a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, July 31st. Guggenheim lowered their price objective on Phathom Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Finally, Barclays dropped their target price on Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.25.

Phathom Pharmaceuticals Stock Down 1.8%

The company’s 50 day simple moving average is $9.91 and its 200-day simple moving average is $10.79. The firm has a market cap of $665.08 million, a P/E ratio of -6.46 and a beta of 0.51.

Institutional Trading of Phathom Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC grew its holdings in shares of Phathom Pharmaceuticals by 125.8% in the third quarter. Millennium Management LLC now owns 5,081,451 shares of the company’s stock worth $59,809,000 after purchasing an additional 2,830,954 shares during the last quarter. BlackRock Inc. purchased a new stake in Phathom Pharmaceuticals in the 2nd quarter valued at about $49,098,000. Invesco Ltd. grew its stake in Phathom Pharmaceuticals by 13.4% in the 2nd quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock worth $39,703,000 after acquiring an additional 489,260 shares in the last quarter. Carlyle Group Inc. bought a new position in Phathom Pharmaceuticals in the 2nd quarter worth about $37,940,000. Finally, Vanguard Group Inc. increased its position in shares of Phathom Pharmaceuticals by 15.4% during the third quarter. Vanguard Group Inc. now owns 3,215,572 shares of the company’s stock worth $37,847,000 after acquiring an additional 428,261 shares during the period. 99.01% of the stock is currently owned by institutional investors.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company’s core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom’s research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company’s lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.