Robert Charles Breedlove Sells 1,692 Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) 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 stock was sold at an average price of $8.36, for a total value of $14,145.12. Following the sale, the insider directly owned 48,392 shares of the company's stock, valued at $404,557.12. The trade was a 3.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Phathom Pharmaceuticals Stock Up 0.9%

Shares of PHAT traded up $0.07 during trading hours on Tuesday, reaching $7.90. 589,976 shares of the company traded hands, compared to its average volume of 1,538,773. The stock has a market capitalization of $551.53 million, a PE ratio of -1.51 and a beta of 0.45. Phathom Pharmaceuticals, Inc. has a fifty-two week low of $2.21 and a fifty-two week high of $19.71. The stock has a fifty day simple moving average of $7.38 and a 200 day simple moving average of $6.09.

Analyst Upgrades and Downgrades

PHAT has been the subject of a number of analyst reports. Craig Hallum boosted their price objective on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Guggenheim reduced their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. HC Wainwright reiterated a "buy" rating and issued a $20.00 price objective on shares of Phathom Pharmaceuticals in a research note on Monday, June 9th. The Goldman Sachs Group cut their price target on Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $17.50.

Institutional Trading of Phathom Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of Phathom Pharmaceuticals by 797.2% in the 1st quarter. GAMMA Investing LLC now owns 4,558 shares of the company's stock worth $29,000 after purchasing an additional 4,050 shares during the period. CWM LLC raised its holdings in shares of Phathom Pharmaceuticals by 20,997.1% in the 1st quarter. CWM LLC now owns 7,384 shares of the company's stock worth $46,000 after purchasing an additional 7,349 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth about $74,000. Teacher Retirement System of Texas purchased a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth about $90,000. Finally, Rafferty Asset Management LLC purchased a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth about $90,000. 99.01% of the stock is owned by institutional investors and hedge funds.

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.