Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Gap Up to $9.76

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $9.76, but opened at $10.35. Phathom Pharmaceuticals shares last traded at $9.99, with a volume of 187,000 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals in a research report on Friday. They set a "buy" rating and a $24.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a report on Friday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

Phathom Pharmaceuticals Stock Performance

The stock has a market capitalization of $587.54 million, a price-to-earnings ratio of -2.59 and a beta of 0.67. The stock has a fifty day simple moving average of $9.79 and a two-hundred day simple moving average of $8.68.

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.12. The business had revenue of $0.68 million during the quarter, compared to analyst estimates of $0.93 million. During the same period last year, the firm posted ($1.33) earnings per share. Research analysts forecast that Phathom Pharmaceuticals, Inc. will post -4.22 earnings per share for the current year.

Insider Activity

In related news, CFO Molly Henderson sold 3,435 shares of the business's stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $11.10, for a total value of $38,128.50. Following the completion of the sale, the chief financial officer now directly owns 95,263 shares of the company's stock, valued at approximately $1,057,419.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 3,435 shares of the company's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $11.10, for a total transaction of $38,128.50. Following the transaction, the chief financial officer now owns 95,263 shares in the company, valued at $1,057,419.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Terrie Curran sold 16,851 shares of Phathom Pharmaceuticals stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $9.11, for a total transaction of $153,512.61. Following the transaction, the insider now owns 410,784 shares of the company's stock, valued at $3,742,242.24. The disclosure for this sale can be found here. Company insiders own 24.10% of the company's stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. increased its position in shares of Phathom Pharmaceuticals by 355.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company's stock valued at $60,000 after acquiring an additional 5,171 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Phathom Pharmaceuticals by 371.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company's stock valued at $87,000 after purchasing an additional 6,641 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Phathom Pharmaceuticals in the third quarter worth $92,000. DAVENPORT & Co LLC bought a new stake in shares of Phathom Pharmaceuticals during the 4th quarter valued at $91,000. Finally, Klingman & Associates LLC purchased a new stake in Phathom Pharmaceuticals during the 1st quarter worth about $110,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

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.

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