Phathom Pharmaceuticals (NASDAQ:PHAT) Trading 7.1% Higher – What’s Next?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s share price was up 7.1% during trading on Thursday . The stock traded as high as $8.05 and last traded at $8.03. Approximately 694,285 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 919,099 shares. The stock had previously closed at $7.50.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Thursday, December 12th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Wednesday, December 11th.

Phathom Pharmaceuticals Stock Up 6.9 %

The stock’s 50 day moving average price is $11.62 and its two-hundred day moving average price is $13.03. The firm has a market capitalization of $548.38 million, a price-to-earnings ratio of -1.41 and a beta of 0.57.

Insiders Place Their Bets

In other Phathom Pharmaceuticals news, Director Frank Karbe purchased 12,500 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $7.93 per share, for a total transaction of $99,125.00. Following the purchase, the director now directly owns 57,000 shares in the company, valued at $452,010. This trade represents a 28.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 24.10% of the company’s stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in PHAT. Bank of New York Mellon Corp lifted its stake in shares of Phathom Pharmaceuticals by 20.5% in the second quarter. Bank of New York Mellon Corp now owns 114,721 shares of the company’s stock worth $1,182,000 after buying an additional 19,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Phathom Pharmaceuticals by 42.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock worth $104,000 after acquiring an additional 2,987 shares during the last quarter. Rhumbline Advisers boosted its holdings in Phathom Pharmaceuticals by 17.1% during the second quarter. Rhumbline Advisers now owns 55,178 shares of the company’s stock valued at $568,000 after acquiring an additional 8,075 shares during the period. Marshall Wace LLP bought a new stake in Phathom Pharmaceuticals during the second quarter valued at about $1,161,000. Finally, Oracle Investment Management Inc. acquired a new stake in shares of Phathom Pharmaceuticals in the second quarter valued at about $2,318,000. 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.