Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Up 11.8%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s share price traded up 11.8% on Monday . The company traded as high as $11.23 and last traded at $11.22. 489,633 shares were traded during mid-day trading, a decline of 40% from the average session volume of 809,964 shares. The stock had previously closed at $10.04.

Analysts Set New Price Targets

Several brokerages have issued reports on PHAT. Needham & Company LLC reissued a “buy” rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, May 3rd. Stifel Nicolaus started coverage on Phathom Pharmaceuticals in a research report on Friday, May 3rd. They set a “buy” rating and a $24.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.00.

Phathom Pharmaceuticals Stock Performance

The company has a market capitalization of $591.05 million, a P/E ratio of -2.60 and a beta of 0.67. The stock’s fifty day moving average price is $9.80 and its 200-day moving average price is $8.70.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.12. The business had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.93 million. During the same period in the previous year, the firm posted ($1.33) earnings per share. On average, research analysts predict that Phathom Pharmaceuticals, Inc. will post -4.22 EPS for the current fiscal year.

Insider Activity

In related news, CFO Molly Henderson sold 3,435 shares of Phathom Pharmaceuticals stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $11.10, for a total transaction of $38,128.50. Following the completion of the sale, the chief financial officer now owns 95,263 shares of the company’s stock, valued at approximately $1,057,419.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 16,851 shares of Phathom Pharmaceuticals stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $9.11, for a total value of $153,512.61. Following the completion of the sale, the insider now owns 410,784 shares in the company, valued at approximately $3,742,242.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Molly Henderson sold 3,435 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $11.10, for a total transaction of $38,128.50. Following the completion of the sale, the chief financial officer now directly owns 95,263 shares of the company’s stock, valued at approximately $1,057,419.30. The disclosure for this sale can be found here. Insiders own 24.10% of the company’s stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jennison Associates LLC bought a new position in Phathom Pharmaceuticals during the 1st quarter worth $17,499,000. Klingman & Associates LLC acquired a new position in shares of Phathom Pharmaceuticals during the first quarter worth $110,000. China Universal Asset Management Co. Ltd. lifted 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 last quarter. Medicxi Ventures Management Jersey Ltd boosted its holdings in shares of Phathom Pharmaceuticals by 98.5% during the 1st quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock valued at $79,274,000 after acquiring an additional 3,703,703 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Phathom Pharmaceuticals by 54.7% in the 4th quarter. Wellington Management Group LLP now owns 154,391 shares of the company’s stock worth $1,410,000 after purchasing an additional 54,581 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.