Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price Up 11.8%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) shares rose 11.8% during mid-day trading on Monday . The stock traded as high as $11.23 and last traded at $11.22. Approximately 489,633 shares traded hands during trading, a decline of 40% from the average daily volume of 809,964 shares. The stock had previously closed at $10.04.

Wall Street Analyst Weigh In

Several analysts have commented on PHAT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday. Stifel Nicolaus initiated coverage on Phathom Pharmaceuticals in a research report on Friday. They issued a “buy” rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Phathom Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Phathom Pharmaceuticals Stock Up 8.0 %

The company has a market cap of $634.36 million, a PE ratio of -2.79 and a beta of 0.67. The stock’s 50 day simple moving average is $9.80 and its two-hundred day simple moving average is $8.69.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its quarterly 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 analysts’ expectations of $0.93 million. During the same period last year, the company posted ($1.33) earnings per share. Analysts forecast that Phathom Pharmaceuticals, Inc. will post -4.22 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Phathom Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. increased its stake in shares of Phathom Pharmaceuticals by 355.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock valued at $60,000 after purchasing an additional 5,171 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Phathom Pharmaceuticals by 371.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock worth $87,000 after purchasing an additional 6,641 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in Phathom Pharmaceuticals in the fourth quarter worth approximately $91,000. Public Employees Retirement System of Ohio bought a new position in Phathom Pharmaceuticals during the 3rd quarter valued at $92,000. Finally, Klingman & Associates LLC acquired a new position in shares of Phathom Pharmaceuticals during the 1st quarter valued at $110,000. 99.01% of the stock is owned by institutional investors and hedge funds.

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.