Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Up 11.8%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s share price shot up 11.8% during mid-day trading on Monday . The company traded as high as $11.23 and last traded at $11.22. 489,633 shares were traded during trading, a decline of 40% from the average session volume of 809,964 shares. The stock had previously closed at $10.04.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals in a research note on Friday. They issued a “buy” rating and a $24.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a report on Friday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Phathom Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Phathom Pharmaceuticals Price Performance

The company has a market cap of $634.36 million, a PE ratio of -2.79 and a beta of 0.67. The business’s 50 day moving average is $9.80 and its 200-day moving average is $8.69.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.12. The firm had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $0.93 million. During the same period last year, the firm posted ($1.33) earnings per share. As a group, sell-side analysts predict that Phathom Pharmaceuticals, Inc. will post -4.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Molly Henderson sold 3,435 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $11.10, for a total transaction of $38,128.50. Following the sale, the chief financial officer now owns 95,263 shares of the company’s stock, valued at approximately $1,057,419.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Molly Henderson sold 3,435 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $11.10, for a total value of $38,128.50. Following the completion of the transaction, the chief financial officer now directly owns 95,263 shares of the company’s stock, valued at $1,057,419.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Terrie Curran sold 16,851 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $9.11, for a total transaction of $153,512.61. Following the sale, the insider now directly owns 410,784 shares in the company, valued at approximately $3,742,242.24. The disclosure for this sale can be found here. 24.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Phathom Pharmaceuticals by 355.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock valued at $60,000 after purchasing an additional 5,171 shares during the last quarter. Invesco Ltd. lifted its stake in Phathom Pharmaceuticals by 2.6% in the third quarter. Invesco Ltd. now owns 3,418,959 shares of the company’s stock valued at $35,455,000 after buying an additional 86,822 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Phathom Pharmaceuticals by 10.3% in the third quarter. Vanguard Group Inc. now owns 1,922,662 shares of the company’s stock valued at $19,938,000 after acquiring an additional 180,325 shares during the period. Algert Global LLC purchased a new position in shares of Phathom Pharmaceuticals during the third quarter worth approximately $952,000. Finally, SG Americas Securities LLC increased its holdings in shares of Phathom Pharmaceuticals by 48.6% in the 4th quarter. SG Americas Securities LLC now owns 18,070 shares of the company’s stock valued at $165,000 after acquiring an additional 5,906 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

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.