Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Director Purchases $14,590.80 in Stock

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) Director James N. Topper purchased 3,780 shares of Phathom Pharmaceuticals stock in a transaction dated Wednesday, May 21st. The shares were bought at an average cost of $3.86 per share, for a total transaction of $14,590.80. Following the transaction, the director now directly owns 59,403 shares of the company's stock, valued at approximately $229,295.58. The trade was a 6.80% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ PHAT traded down $0.21 during midday trading on Monday, reaching $4.02. 786,735 shares of the company traded hands, compared to its average volume of 1,177,603. The company has a market cap of $280.65 million, a price-to-earnings ratio of -0.71 and a beta of 0.15. The stock has a 50-day moving average price of $4.42 and a 200 day moving average price of $6.26. Phathom Pharmaceuticals, Inc. has a 52 week low of $2.21 and a 52 week high of $19.71.

Institutional Trading of Phathom Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. acquired a new position in shares of Phathom Pharmaceuticals during the first quarter valued at approximately $3,738,000. AQR Capital Management LLC boosted its stake in Phathom Pharmaceuticals by 508.2% during the 1st quarter. AQR Capital Management LLC now owns 107,399 shares of the company's stock valued at $673,000 after purchasing an additional 89,741 shares in the last quarter. 683 Capital Management LLC boosted its stake in 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 in the last quarter. Propel Bio Management LLC increased its position in shares of Phathom Pharmaceuticals by 14.6% during the 1st quarter. Propel Bio Management LLC now owns 1,134,927 shares of the company's stock valued at $7,116,000 after purchasing an additional 145,000 shares during the period. Finally, Trexquant Investment LP raised its stake in shares of Phathom Pharmaceuticals by 5.3% in the 1st quarter. Trexquant Investment LP now owns 398,751 shares of the company's stock worth $2,500,000 after buying an additional 20,114 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on PHAT shares. The Goldman Sachs Group decreased their target price on Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. HC Wainwright lowered their price objective on shares of Phathom Pharmaceuticals from $28.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, February 25th. Craig Hallum reissued a "buy" rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Monday, April 21st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Phathom Pharmaceuticals currently has an average rating of "Buy" and a consensus price target of $17.60.

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.