Phathom Pharmaceuticals (NASDAQ:PHAT) Reaches New 52-Week Low – Time to Sell?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $7.31 and last traded at $7.2670, with a volume of 151397 shares trading hands. The stock had previously closed at $7.76.

Analyst Ratings Changes

A number of research firms have commented on PHAT. Guggenheim cut their price objective on shares of Phathom Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a report on Friday, July 31st. Needham & Company LLC reduced their price objective on Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Barclays reduced their price target on Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 14th. HC Wainwright restated a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, July 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Phathom Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $21.25.

Phathom Pharmaceuticals Price Performance

The company has a market capitalization of $572.77 million, a PE ratio of -5.53 and a beta of 0.51. The stock’s 50 day simple moving average is $9.16 and its 200-day simple moving average is $10.52.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Phathom Pharmaceuticals during the second quarter worth $49,098,000. Carlyle Group Inc. acquired a new stake in Phathom Pharmaceuticals in the second quarter valued at $37,940,000. Catalys Pacific LLC lifted its holdings in Phathom Pharmaceuticals by 22.4% during the 4th quarter. Catalys Pacific LLC now owns 1,429,014 shares of the company’s stock worth $23,707,000 after buying an additional 261,900 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in Phathom Pharmaceuticals by 14.2% during the 4th quarter. GW&K Investment Management LLC now owns 1,306,678 shares of the company’s stock worth $21,678,000 after buying an additional 162,348 shares during the last quarter. Finally, Wasatch Advisors LP boosted its position in shares of Phathom Pharmaceuticals by 0.7% during the 1st quarter. Wasatch Advisors LP now owns 1,340,916 shares of the company’s stock worth $14,898,000 after acquiring an additional 9,247 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for gastrointestinal diseases. The company’s primary product is Voquezna (vonoprazan), a potassium-competitive acid blocker designed to suppress gastric acid production through a mechanism distinct from traditional proton pump inhibitors.

In the United States, Voquezna is approved for use in combination regimens to eradicate Helicobacter pylori (H. pylori) infection in adults.