Insider Selling: Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) CFO Sells 1,291 Shares of Stock

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) CFO Molly Henderson sold 1,291 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $8.00, for a total transaction of $10,328.00. Following the completion of the sale, the chief financial officer now directly owns 98,156 shares of the company’s stock, valued at $785,248. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Phathom Pharmaceuticals Stock Performance

Shares of NASDAQ:PHAT opened at $7.45 on Friday. The firm has a 50 day simple moving average of $12.11 and a 200 day simple moving average of $13.07. Phathom Pharmaceuticals, Inc. has a 52 week low of $6.07 and a 52 week high of $19.71. The company has a market cap of $509.41 million, a PE ratio of -1.31 and a beta of 0.56.

Institutional Trading of Phathom Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Jennison Associates LLC grew its holdings in shares of Phathom Pharmaceuticals by 112.7% during the third quarter. Jennison Associates LLC now owns 5,866,389 shares of the company’s stock valued at $106,064,000 after buying an additional 3,108,810 shares in the last quarter. Portolan Capital Management LLC increased its stake in shares of Phathom Pharmaceuticals by 50.4% in the third quarter. Portolan Capital Management LLC now owns 1,699,918 shares of the company’s stock worth $30,735,000 after acquiring an additional 569,829 shares during the last quarter. Checkpoint Capital L.P. raised its holdings in shares of Phathom Pharmaceuticals by 71.9% during the third quarter. Checkpoint Capital L.P. now owns 1,504,307 shares of the company’s stock worth $27,198,000 after acquiring an additional 629,307 shares in the last quarter. FMR LLC boosted its position in Phathom Pharmaceuticals by 49,000.7% during the third quarter. FMR LLC now owns 1,304,114 shares of the company’s stock valued at $23,578,000 after purchasing an additional 1,301,458 shares during the last quarter. Finally, State Street Corp increased its position in Phathom Pharmaceuticals by 17.5% in the 3rd quarter. State Street Corp now owns 922,788 shares of the company’s stock worth $16,684,000 after purchasing an additional 137,539 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PHAT. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Thursday, December 12th.

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.