Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Down 3.7%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) shares fell 3.7% during mid-day trading on Friday . The company traded as low as $9.10 and last traded at $9.13. 111,017 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 842,120 shares. The stock had previously closed at $9.48.

Analysts Set New Price Targets

Separately, Needham & Company LLC reissued a “buy” rating and issued a $26.00 price objective on shares of Phathom Pharmaceuticals in a report on Thursday, April 11th.

Phathom Pharmaceuticals Price Performance

The stock has a market cap of $531.36 million, a PE ratio of -2.31 and a beta of 0.63. The company has a 50-day simple moving average of $9.60 and a 200-day simple moving average of $8.75.

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

Insider Activity

In other news, CFO Molly Henderson sold 3,435 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $11.10, for a total value of $38,128.50. Following the completion of the sale, the chief financial officer now directly owns 95,263 shares in the company, valued at approximately $1,057,419.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Molly Henderson sold 3,435 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $11.10, for a total value of $38,128.50. Following the completion of the sale, the chief financial officer now directly owns 95,263 shares in the company, valued at approximately $1,057,419.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $8.10, for a total value of $29,999,994.30. Following the completion of the sale, the insider now owns 3,755,583 shares of the company’s stock, valued at $30,420,222.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,723,989 shares of company stock worth $30,191,635. 27.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PHAT. Quantbot Technologies LP boosted its position in Phathom Pharmaceuticals by 112.6% during the 2nd quarter. Quantbot Technologies LP now owns 5,527 shares of the company’s stock worth $46,000 after acquiring an additional 2,927 shares during the period. Legal & General Group Plc boosted its position in Phathom Pharmaceuticals by 20.1% during the 2nd quarter. Legal & General Group Plc now owns 6,328 shares of the company’s stock worth $54,000 after acquiring an additional 1,061 shares during the period. Osaic Holdings Inc. boosted its position in Phathom Pharmaceuticals by 2,715.2% during the 2nd quarter. Osaic Holdings Inc. now owns 4,251 shares of the company’s stock worth $59,000 after acquiring an additional 4,100 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Phathom Pharmaceuticals by 355.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock worth $60,000 after acquiring an additional 5,171 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Phathom Pharmaceuticals by 371.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock worth $87,000 after acquiring an additional 6,641 shares during the period. Institutional investors and hedge funds 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.