Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Down 6.9% – Time to Sell?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) was down 6.9% during trading on Thursday . The company traded as low as $7.54 and last traded at $7.56. Approximately 446,563 shares changed hands during trading, a decline of 52% from the average daily volume of 920,981 shares. The stock had previously closed at $8.12.

Analysts Set New Price Targets

Several brokerages have commented on PHAT. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Thursday, December 12th. 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.

Phathom Pharmaceuticals Trading Up 5.6 %

The business’s fifty day simple moving average is $10.47 and its 200-day simple moving average is $12.86. The firm has a market cap of $529.24 million, a P/E ratio of -1.36 and a beta of 0.56.

Insider Buying and Selling

In other Phathom Pharmaceuticals news, Director Frank Karbe bought 12,500 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $7.93 per share, for a total transaction of $99,125.00. Following the completion of the transaction, the director now directly owns 57,000 shares in the company, valued at $452,010. This represents a 28.09 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 24.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PHAT. Huntington National Bank increased its stake in Phathom Pharmaceuticals by 62.2% in the third quarter. Huntington National Bank now owns 1,471 shares of the company’s stock valued at $27,000 after acquiring an additional 564 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Phathom Pharmaceuticals by 41.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock worth $43,000 after purchasing an additional 722 shares during the last quarter. US Bancorp DE grew its stake in shares of Phathom Pharmaceuticals by 28.6% during the third quarter. US Bancorp DE now owns 5,248 shares of the company’s stock valued at $95,000 after buying an additional 1,166 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Phathom Pharmaceuticals by 42.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock worth $104,000 after buying an additional 2,987 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Phathom Pharmaceuticals by 10.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock worth $144,000 after acquiring an additional 1,339 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors.

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.