Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Down 3.4% - Time to Sell?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report)'s stock price traded down 3.4% during mid-day trading on Monday . The stock traded as low as $14.52 and last traded at $14.58. 145,864 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 802,677 shares. The stock had previously closed at $15.09.

Analyst Upgrades and Downgrades

PHAT has been the topic of several research reports. Needham & Company LLC reiterated a "buy" rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a report on Friday, September 13th. The Goldman Sachs Group increased their target price on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Friday, August 9th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Monday, August 12th.

Phathom Pharmaceuticals Trading Up 1.3 %

The business has a 50-day moving average price of $15.76 and a 200-day moving average price of $12.41. The stock has a market cap of $894.41 million, a PE ratio of -3.46 and a beta of 0.71.

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.35) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.39) by $0.04. The firm had revenue of $7.32 million during the quarter, compared to analysts' expectations of $5.65 million. Equities analysts expect that Phathom Pharmaceuticals, Inc. will post -6.03 earnings per share for the current year.

Institutional Trading of Phathom Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in PHAT. Creative Planning boosted its holdings in Phathom Pharmaceuticals by 25.7% during the 3rd quarter. Creative Planning now owns 33,884 shares of the company's stock valued at $613,000 after acquiring an additional 6,933 shares during the period. SG Americas Securities LLC purchased a new position in Phathom Pharmaceuticals in the third quarter valued at $244,000. The Manufacturers Life Insurance Company increased its holdings in shares of Phathom Pharmaceuticals by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company's stock valued at $144,000 after acquiring an additional 1,339 shares during the last quarter. Oracle Investment Management Inc. purchased a new position in Phathom Pharmaceuticals in the second quarter valued at approximately $2,318,000. Finally, Marshall Wace LLP purchased a new position in shares of Phathom Pharmaceuticals in the 2nd quarter valued at $1,161,000. Institutional investors and hedge funds own 99.01% of the company's stock.

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.