Insider Selling: Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Insider Sells 1,692 Shares of Stock

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) insider Robert Charles Breedlove sold 1,692 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $8.36, for a total value of $14,145.12. Following the completion of the sale, the insider owned 48,392 shares of the company's stock, valued at approximately $404,557.12. This represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Phathom Pharmaceuticals Price Performance

Shares of PHAT stock traded down $0.37 on Friday, hitting $7.95. The stock had a trading volume of 1,008,382 shares, compared to its average volume of 1,545,149. Phathom Pharmaceuticals, Inc. has a 12-month low of $2.21 and a 12-month high of $19.71. The business has a 50 day moving average of $7.28 and a 200 day moving average of $6.11. The stock has a market cap of $554.99 million, a price-to-earnings ratio of -1.52 and a beta of 0.45.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PHAT. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, June 6th. HC Wainwright reissued a "buy" rating and issued a $20.00 price target on shares of Phathom Pharmaceuticals in a research report on Monday, June 9th. Guggenheim decreased their price target on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. The Goldman Sachs Group dropped their price objective on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Finally, Craig Hallum lifted their price objective on shares of Phathom Pharmaceuticals from $12.00 to $17.00 and gave the company a "buy" rating in a report on Monday, June 9th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $17.50.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several hedge funds have recently modified their holdings of PHAT. Vanguard Group Inc. increased its position in shares of Phathom Pharmaceuticals by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 2,779,561 shares of the company's stock valued at $22,570,000 after acquiring an additional 83,238 shares during the last quarter. Wasatch Advisors LP grew its stake in Phathom Pharmaceuticals by 531.3% in the 4th quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company's stock valued at $12,658,000 after purchasing an additional 1,311,986 shares during the period. 683 Capital Management LLC increased its position in shares of Phathom Pharmaceuticals by 41.0% during the 1st quarter. 683 Capital Management LLC now owns 1,445,000 shares of the company's stock valued at $9,060,000 after purchasing an additional 420,000 shares during the last quarter. Catalys Pacific LLC raised its stake in shares of Phathom Pharmaceuticals by 4.0% during the 4th quarter. Catalys Pacific LLC now owns 1,167,114 shares of the company's stock worth $9,477,000 after purchasing an additional 44,542 shares during the period. Finally, Propel Bio Management LLC boosted its holdings in shares of Phathom Pharmaceuticals by 14.6% in the 1st quarter. Propel Bio Management LLC now owns 1,134,927 shares of the company's stock worth $7,116,000 after buying an additional 145,000 shares during the last quarter. Institutional investors own 99.01% of the company's stock.

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.

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