Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Short Interest Update

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 14,660,000 shares, a drop of 16.0% from the October 31st total of 17,450,000 shares. Based on an average trading volume of 1,340,000 shares, the days-to-cover ratio is currently 10.9 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PHAT shares. HC Wainwright reaffirmed a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Monday, August 12th. The Goldman Sachs Group upped their target price on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a "neutral" rating in a report on Friday, August 9th. Finally, Needham & Company LLC reissued a "buy" rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, September 13th.

Phathom Pharmaceuticals Stock Performance

Shares of Phathom Pharmaceuticals stock traded down $0.10 on Friday, reaching $8.87. 423,267 shares of the stock were exchanged, compared to its average volume of 913,269. Phathom Pharmaceuticals has a one year low of $6.07 and a one year high of $19.71. The firm's 50 day moving average is $14.68 and its 200-day moving average is $13.27. The firm has a market cap of $606.53 million, a PE ratio of -1.56 and a beta of 0.72.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC increased its holdings in Phathom Pharmaceuticals by 366.0% in the 3rd quarter. Barclays PLC now owns 57,807 shares of the company's stock valued at $1,044,000 after purchasing an additional 45,402 shares during the last quarter. Geode Capital Management LLC grew its position in Phathom Pharmaceuticals by 7.1% during the third quarter. Geode Capital Management LLC now owns 862,918 shares of the company's stock valued at $15,605,000 after purchasing an additional 56,871 shares in the last quarter. MML Investors Services LLC increased its holdings in Phathom Pharmaceuticals by 72.8% in the 3rd quarter. MML Investors Services LLC now owns 33,860 shares of the company's stock valued at $612,000 after buying an additional 14,260 shares during the period. State Street Corp boosted its stake in Phathom Pharmaceuticals by 17.5% during the 3rd quarter. State Street Corp now owns 922,788 shares of the company's stock worth $16,684,000 after acquiring an additional 137,539 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Phathom Pharmaceuticals during the third quarter worth $7,952,000. Hedge funds and other institutional investors 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.