Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Director Asit Parikh Buys 5,000 Shares

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Director Asit Parikh purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were bought at an average price of $2.60 per share, with a total value of $13,000.00. Following the purchase, the director now owns 90,500 shares in the company, valued at $235,300. The trade was a 5.85 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Phathom Pharmaceuticals Stock Performance

Shares of PHAT stock opened at $3.14 on Friday. Phathom Pharmaceuticals, Inc. has a 52-week low of $2.21 and a 52-week high of $19.71. The business’s fifty day moving average is $4.66 and its 200 day moving average is $7.35. The company has a market capitalization of $219.22 million, a PE ratio of -0.55 and a beta of 0.15.

Analysts Set New Price Targets

PHAT has been the subject of a number of recent research reports. Cantor Fitzgerald raised Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. HC Wainwright lowered their price objective on Phathom Pharmaceuticals from $28.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Craig Hallum reiterated a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Guggenheim lowered their price target on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Monday, April 21st. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $17.60.

Institutional Trading of Phathom Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of PHAT. GAMMA Investing LLC increased its position in shares of Phathom Pharmaceuticals by 797.2% in the first quarter. GAMMA Investing LLC now owns 4,558 shares of the company’s stock worth $29,000 after purchasing an additional 4,050 shares during the last quarter. CWM LLC raised its position in shares of Phathom Pharmaceuticals by 20,997.1% during the 1st quarter. CWM LLC now owns 7,384 shares of the company’s stock valued at $46,000 after buying an additional 7,349 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Phathom Pharmaceuticals during the 4th quarter valued at $74,000. Teacher Retirement System of Texas bought a new stake in shares of Phathom Pharmaceuticals during the 4th quarter worth $90,000. Finally, Rafferty Asset Management LLC purchased a new position in Phathom Pharmaceuticals in the fourth quarter worth $90,000. 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.