Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $9.45, but opened at $9.02. Phathom Pharmaceuticals shares last traded at $9.64, with a volume of 266,358 shares traded.
Wall Street Analysts Forecast Growth
PHAT has been the subject of a number of research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $26.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, September 13th. The Goldman Sachs Group boosted their price objective 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 reissued a "buy" rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Monday, August 12th.
Check Out Our Latest Research Report on PHAT
Phathom Pharmaceuticals Price Performance
The firm's fifty day moving average price is $15.65 and its 200-day moving average price is $13.32. The company has a market cap of $638.67 million, a price-to-earnings ratio of -1.64 and a beta of 0.72.
Hedge Funds Weigh In On Phathom Pharmaceuticals
Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its stake in Phathom Pharmaceuticals by 366.0% during the third quarter. Barclays PLC now owns 57,807 shares of the company's stock valued at $1,044,000 after buying an additional 45,402 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Phathom Pharmaceuticals by 7.1% in the 3rd quarter. Geode Capital Management LLC now owns 862,918 shares of the company's stock worth $15,605,000 after purchasing an additional 56,871 shares in the last quarter. MML Investors Services LLC lifted its stake in Phathom Pharmaceuticals by 72.8% during the third quarter. MML Investors Services LLC now owns 33,860 shares of the company's stock valued at $612,000 after purchasing an additional 14,260 shares during the last quarter. State Street Corp boosted its holdings in Phathom Pharmaceuticals by 17.5% during the third quarter. State Street Corp now owns 922,788 shares of the company's stock worth $16,684,000 after buying an additional 137,539 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Phathom Pharmaceuticals in the third quarter worth approximately $7,952,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.
About Phathom Pharmaceuticals
(
Get Free Report)
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.
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