Phathom Pharmaceuticals (NASDAQ:PHAT) Trading Down 5.9%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s stock price was down 5.9% on Tuesday . The company traded as low as $10.16 and last traded at $10.20. Approximately 390,238 shares were traded during trading, a decline of 52% from the average daily volume of 807,666 shares. The stock had previously closed at $10.84.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PHAT. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday. Stifel Nicolaus assumed coverage on Phathom Pharmaceuticals in a research report on Friday. They set a “buy” rating and a $24.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Phathom Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $22.00.

Phathom Pharmaceuticals Trading Down 5.5 %

The company’s 50-day moving average is $9.80 and its two-hundred day moving average is $8.69. The stock has a market capitalization of $599.24 million, a P/E ratio of -2.79 and a beta of 0.67.

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

Insiders Place Their Bets

In other news, insider Terrie Curran sold 16,851 shares of the stock in a transaction on Friday, March 22nd. The stock was 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 document filed with the SEC, which is available at the SEC website. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 16,851 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $9.11, for a total transaction of $153,512.61. Following the sale, the insider now directly owns 410,784 shares in the company, valued at approximately $3,742,242.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Molly Henderson sold 3,435 shares of the stock in a transaction that occurred on 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 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 currently owned by insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Medicxi Ventures Management Jersey Ltd boosted its stake in Phathom Pharmaceuticals by 98.5% during the first 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 bought a new stake in Phathom Pharmaceuticals in the first quarter worth about $17,499,000. Decheng Capital LLC acquired a new stake in Phathom Pharmaceuticals in the 4th quarter valued at about $7,760,000. Catalys Pacific LLC bought a new position in shares of Phathom Pharmaceuticals during the 4th quarter valued at about $6,592,000. Finally, Vanguard Group Inc. grew its stake in shares of Phathom Pharmaceuticals by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,922,662 shares of the company’s stock worth $19,938,000 after purchasing an additional 180,325 shares during 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.