Phathom Pharmaceuticals (NASDAQ:PHAT) Trading 7.1% Higher - What's Next?

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) traded up 7.1% on Thursday . The stock traded as high as $8.05 and last traded at $8.03. 694,285 shares were traded during mid-day trading, a decline of 24% from the average session volume of 919,099 shares. The stock had previously closed at $7.50.

Analyst Ratings Changes

PHAT has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Wednesday, December 11th. HC Wainwright reaffirmed a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th.

Phathom Pharmaceuticals Trading Up 8.0 %

The stock has a 50-day moving average of $11.46 and a two-hundred day moving average of $13.00. The firm has a market cap of $553.85 million, a price-to-earnings ratio of -1.42 and a beta of 0.57.

Insiders Place Their Bets

In other Phathom Pharmaceuticals news, Director Frank Karbe purchased 12,500 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $7.93 per share, with a total value of $99,125.00. Following the completion of the transaction, the director now owns 57,000 shares of the company's stock, valued at approximately $452,010. This represents a 28.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 24.10% of the company's stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHAT. Huntington National Bank raised its stake in shares of Phathom Pharmaceuticals by 62.2% during the 3rd quarter. Huntington National Bank now owns 1,471 shares of the company's stock worth $27,000 after purchasing an additional 564 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Phathom Pharmaceuticals by 41.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company's stock valued at $43,000 after acquiring an additional 722 shares in the last quarter. US Bancorp DE raised its position in Phathom Pharmaceuticals by 28.6% during the third quarter. US Bancorp DE now owns 5,248 shares of the company's stock valued at $95,000 after acquiring an additional 1,166 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Phathom Pharmaceuticals by 42.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company's stock valued at $104,000 after acquiring an additional 2,987 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Phathom Pharmaceuticals in the third quarter worth approximately $197,000. Hedge funds and other institutional investors own 99.01% of the company's stock.

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.