Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Up 4.8% - Here's Why

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report)'s stock price was up 4.8% during trading on Thursday . The company traded as high as $17.56 and last traded at $17.56. Approximately 126,570 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 796,487 shares. The stock had previously closed at $16.76.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PHAT shares. The Goldman Sachs Group increased their target price on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a "neutral" rating in a research report on Friday, August 9th. Needham & Company LLC reiterated a "buy" rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, September 13th. Finally, HC Wainwright restated a "buy" rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Monday, August 12th.

Phathom Pharmaceuticals Price Performance

The stock has a market cap of $1.08 billion, a PE ratio of -4.12 and a beta of 0.71. The stock has a 50-day simple moving average of $15.22 and a 200-day simple moving average of $12.11.

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($1.35) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.39) by $0.04. The firm had revenue of $7.32 million for the quarter, compared to analysts' expectations of $5.65 million. As a group, equities research analysts anticipate that Phathom Pharmaceuticals, Inc. will post -6.03 EPS for the current year.

Insiders Place Their Bets

In other news, insider Terrie Curran sold 33,848 shares of the firm's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $396,698.56. Following the transaction, the insider now owns 377,734 shares of the company's stock, valued at approximately $4,427,042.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Terrie Curran sold 33,848 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $11.72, for a total value of $396,698.56. Following the completion of the sale, the insider now owns 377,734 shares in the company, valued at $4,427,042.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Molly Henderson sold 4,325 shares of the firm's stock in a transaction dated 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 owns 99,447 shares in the company, valued at $1,165,518.84. The disclosure for this sale can be found here. Insiders sold a total of 49,074 shares of company stock worth $575,147 over the last ninety days. 24.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PHAT. Catalys Pacific LLC purchased a new stake in Phathom Pharmaceuticals during the 4th quarter worth $6,592,000. Avidity Partners Management LP increased its holdings in Phathom Pharmaceuticals by 6.4% during the 4th quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company's stock worth $15,718,000 after purchasing an additional 104,280 shares during the last quarter. Octagon Capital Advisors LP purchased a new stake in Phathom Pharmaceuticals during the 4th quarter worth approximately $456,000. Wellington Management Group LLP raised its position in shares of Phathom Pharmaceuticals by 54.7% in the 4th quarter. Wellington Management Group LLP now owns 154,391 shares of the company's stock valued at $1,410,000 after purchasing an additional 54,581 shares in the last quarter. Finally, Medicxi Ventures Management Jersey Ltd boosted its stake 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 during the last quarter. 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.