Phathom Pharmaceuticals (NASDAQ:PHAT) Trading 5.6% Higher

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s share price was up 5.6% on Tuesday . The company traded as high as $11.26 and last traded at $11.04. Approximately 248,973 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 839,380 shares. The stock had previously closed at $10.45.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a “buy” rating and issued a $26.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, March 22nd.

Phathom Pharmaceuticals Trading Up 5.2 %

The business’s 50 day moving average price is $8.50 and its 200-day moving average price is $8.85. The company has a current ratio of 10.25, a quick ratio of 10.22 and a debt-to-equity ratio of 5.56. The company has a market cap of $646.20 million, a price-to-earnings ratio of -2.85 and a beta of 0.63.

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

Insider Transactions at Phathom Pharmaceuticals

In other news, CFO Molly Henderson sold 6,307 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $7.75, for a total transaction of $48,879.25. Following the completion of the sale, the chief financial officer now owns 98,698 shares of the company’s stock, valued at approximately $764,909.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Molly Henderson sold 6,307 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $7.75, for a total transaction of $48,879.25. Following the completion of the sale, the chief financial officer now owns 98,698 shares of the company’s stock, valued at approximately $764,909.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $8.10, for a total transaction of $29,999,994.30. Following the transaction, the insider now owns 3,755,583 shares of the company’s stock, valued at $30,420,222.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,726,861 shares of company stock valued at $30,202,386. Company insiders own 27.10% of the company’s stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Phathom Pharmaceuticals by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 1,956,429 shares of the company’s stock valued at $17,862,000 after acquiring an additional 33,767 shares during the period. Wellington Management Group LLP increased its position in Phathom Pharmaceuticals by 54.7% in the 4th quarter. Wellington Management Group LLP now owns 154,391 shares of the company’s stock valued at $1,410,000 after acquiring an additional 54,581 shares during the period. Goldman Sachs Group Inc. increased its position in Phathom Pharmaceuticals by 51.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 210,211 shares of the company’s stock valued at $1,919,000 after acquiring an additional 71,711 shares during the period. Price T Rowe Associates Inc. MD increased its position in Phathom Pharmaceuticals by 29.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,401 shares of the company’s stock valued at $159,000 after acquiring an additional 4,007 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in Phathom Pharmaceuticals by 333.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 38,569 shares of the company’s stock valued at $352,000 after acquiring an additional 29,669 shares during the period. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.