Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s stock price traded down 8.7% during trading on Tuesday . The stock traded as low as $34.57 and last traded at $35.36. 4,517 shares were traded during mid-day trading, a decline of 96% from the average session volume of 101,102 shares. The stock had previously closed at $38.74.
Several research firms have recently weighed in on PHAT. Jonestrading started coverage on shares of Phathom Pharmaceuticals in a report on Thursday, January 28th. They issued a “buy” rating on the stock. BMO Capital Markets assumed coverage on Phathom Pharmaceuticals in a research note on Wednesday, February 17th. They issued an “outperform” rating and a $63.00 target price on the stock. Zacks Investment Research downgraded Phathom Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, April 3rd. Finally, Guggenheim assumed coverage on shares of Phathom Pharmaceuticals in a research report on Tuesday, February 2nd. They issued a “buy” rating and a $60.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $50.20.
The company has a quick ratio of 8.21, a current ratio of 8.21 and a debt-to-equity ratio of 0.26. The stock has a 50-day simple moving average of $39.38 and a two-hundred day simple moving average of $40.80. The firm has a market cap of $1.10 billion, a PE ratio of -2.55 and a beta of 1.32.
In related news, Director David A. Socks sold 12,071 shares of Phathom Pharmaceuticals stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $49.01, for a total value of $591,599.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David A. Socks sold 44,876 shares of the business’s stock in a transaction on Friday, February 19th. The stock was sold at an average price of $47.18, for a total transaction of $2,117,249.68. The disclosure for this sale can be found here. Insiders have sold 185,591 shares of company stock worth $8,318,901 over the last quarter. Company insiders own 39.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Luminus Management LLC bought a new position in Phathom Pharmaceuticals during the 4th quarter worth approximately $4,216,000. Trexquant Investment LP bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth approximately $208,000. JPMorgan Chase & Co. increased its stake in shares of Phathom Pharmaceuticals by 15.0% in the fourth quarter. JPMorgan Chase & Co. now owns 187,006 shares of the company’s stock worth $6,212,000 after buying an additional 24,411 shares during the period. Nuveen Asset Management LLC raised its holdings in Phathom Pharmaceuticals by 2.2% during the 4th quarter. Nuveen Asset Management LLC now owns 63,006 shares of the company’s stock valued at $2,093,000 after buying an additional 1,335 shares during the last quarter. Finally, Rhenman & Partners Asset Management AB purchased a new stake in Phathom Pharmaceuticals during the 4th quarter valued at $5,814,000. 73.80% of the stock is owned by institutional investors.
About Phathom Pharmaceuticals (NASDAQ:PHAT)
Phathom Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada to vonoprazan, a potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.
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