Phathom Pharmaceuticals (NASDAQ:PHAT) Now Covered by Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $23.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 309.25% from the stock’s current price.

Other analysts have also issued reports about the stock. HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, January 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ PHAT opened at $5.62 on Friday. Phathom Pharmaceuticals has a 1 year low of $5.21 and a 1 year high of $19.71. The stock has a market cap of $384.30 million, a P/E ratio of -0.99 and a beta of 0.54. The firm has a 50-day moving average of $7.21 and a 200 day moving average of $11.97.

Insider Buying and Selling at Phathom Pharmaceuticals

In related news, CFO Molly Henderson sold 6,583 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total transaction of $43,381.97. Following the sale, the chief financial officer now owns 93,546 shares of the company’s stock, valued at $616,468.14. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Karbe acquired 12,500 shares of the business’s stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $7.93 per share, for a total transaction of $99,125.00. Following the transaction, the director now directly owns 57,000 shares of the company’s stock, valued at approximately $452,010. The trade was a 28.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 35,987 shares of company stock valued at $240,551 over the last 90 days. 24.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PHAT. Huntington National Bank lifted its stake in Phathom Pharmaceuticals by 62.2% in the third quarter. Huntington National Bank now owns 1,471 shares of the company’s stock worth $27,000 after acquiring an additional 564 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Phathom Pharmaceuticals by 41.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock valued at $43,000 after purchasing an additional 722 shares during the last quarter. US Bancorp DE raised its position in shares of Phathom Pharmaceuticals by 28.6% in the 3rd quarter. US Bancorp DE now owns 5,248 shares of the company’s stock valued at $95,000 after purchasing an additional 1,166 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Phathom Pharmaceuticals during the 4th quarter worth approximately $74,000. Finally, Quest Partners LLC purchased a new position in Phathom Pharmaceuticals during the 3rd quarter worth approximately $197,000. 99.01% of the stock is currently owned by institutional investors.

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.