Phathom Pharmaceuticals (NASDAQ:PHAT) Trading Up 2.6%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s share price rose 2.6% on Tuesday . The stock traded as high as $14.32 and last traded at $14.30. Approximately 148,712 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 744,885 shares. The stock had previously closed at $13.94.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PHAT shares. The Goldman Sachs Group raised their price objective on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Stifel Nicolaus began coverage on shares of Phathom Pharmaceuticals in a research note on Friday, May 3rd. They issued a “buy” rating and a $24.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a research report on Monday, August 19th. Finally, HC Wainwright restated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Monday, August 12th.

Phathom Pharmaceuticals Trading Up 12.8 %

The firm has a market cap of $920.17 million, a P/E ratio of -3.56 and a beta of 0.68. The stock’s fifty day moving average is $11.56 and its two-hundred day moving average is $10.45.

Insider Transactions at Phathom Pharmaceuticals

In related news, CFO Molly Henderson sold 4,325 shares of Phathom Pharmaceuticals 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 of the company’s stock, valued at $1,165,518.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Molly Henderson sold 4,325 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,165,518.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Azmi Nabulsi sold 10,901 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 $127,759.72. Following the sale, the chief operating officer now owns 240,421 shares of the company’s stock, valued at $2,817,734.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,074 shares of company stock valued at $575,147. 24.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Medicxi Ventures Management Jersey Ltd raised 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 buying an additional 3,703,703 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Phathom Pharmaceuticals in the 1st quarter valued at $17,499,000. Decheng Capital LLC bought a new position in shares of Phathom Pharmaceuticals during the 4th quarter valued at $7,760,000. Catalys Pacific LLC bought a new stake in Phathom Pharmaceuticals in the fourth quarter worth $6,592,000. Finally, Propel Bio Management LLC lifted its stake in Phathom Pharmaceuticals by 96.4% in the first quarter. Propel Bio Management LLC now owns 869,927 shares of the company’s stock worth $9,239,000 after purchasing an additional 426,880 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Phathom Pharmaceuticals Company Profile

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.