Phathom Pharmaceuticals (NASDAQ:PHAT) Trading Up 3%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) shares traded up 3% during trading on Friday . The company traded as high as $10.80 and last traded at $10.78. 52,077 shares were traded during mid-day trading, a decline of 94% from the average session volume of 858,204 shares. The stock had previously closed at $10.47.

Analyst Ratings Changes

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a research note on Thursday.

Phathom Pharmaceuticals Stock Performance

The firm has a market cap of $592.99 million, a P/E ratio of -2.61 and a beta of 0.63. The company’s 50 day moving average is $9.38 and its 200 day moving average is $8.76.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.12. The company had revenue of $0.68 million during the quarter, compared to the consensus estimate of $0.93 million. During the same period in the previous year, the company earned ($1.33) EPS. On average, equities research analysts anticipate that Phathom Pharmaceuticals, Inc. will post -4.22 EPS for the current year.

Insider Transactions at Phathom Pharmaceuticals

In other news, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $8.10, for a total transaction of $29,999,994.30. Following the completion of the sale, the insider now directly owns 3,755,583 shares in the company, valued at $30,420,222.30. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Phathom Pharmaceuticals news, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $8.10, for a total value of $29,999,994.30. Following the completion of the sale, the insider now directly owns 3,755,583 shares in the company, valued at $30,420,222.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Molly Henderson sold 3,435 shares of Phathom Pharmaceuticals stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $11.10, for a total transaction of $38,128.50. Following the transaction, the chief financial officer now owns 95,263 shares of the company’s stock, valued at $1,057,419.30. The disclosure for this sale can be found here. Insiders sold a total of 3,730,296 shares of company stock worth $30,240,515 over the last three months. 27.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PHAT. Osaic Holdings Inc. raised its position in Phathom Pharmaceuticals by 2,715.2% in the second quarter. Osaic Holdings Inc. now owns 4,251 shares of the company’s stock worth $59,000 after acquiring an additional 4,100 shares during the period. Quantbot Technologies LP raised its position in Phathom Pharmaceuticals by 112.6% in the second quarter. Quantbot Technologies LP now owns 5,527 shares of the company’s stock worth $46,000 after acquiring an additional 2,927 shares during the period. Legal & General Group Plc raised its position in Phathom Pharmaceuticals by 20.1% in the second quarter. Legal & General Group Plc now owns 6,328 shares of the company’s stock worth $54,000 after acquiring an additional 1,061 shares during the period. China Universal Asset Management Co. Ltd. raised its position in Phathom Pharmaceuticals by 355.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock worth $60,000 after acquiring an additional 5,171 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Phathom Pharmaceuticals by 371.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock worth $87,000 after acquiring an additional 6,641 shares during the period. 99.01% of the stock is owned by institutional investors.

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.