Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price Up 5.5%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) shot up 5.5% during trading on Thursday . The company traded as high as $10.42 and last traded at $10.40. 61,188 shares traded hands during trading, a decline of 93% from the average session volume of 831,183 shares. The stock had previously closed at $9.86.

Analysts Set New Price Targets

Separately, Needham & Company LLC reiterated a "buy" rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a research report on Monday.

Phathom Pharmaceuticals Price Performance

The stock has a market cap of $631.58 million, a P/E ratio of -2.62 and a beta of 0.63. The firm's 50-day moving average price is $8.80 and its 200-day moving average price is $8.75.

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) last released its quarterly earnings data 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 company had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.93 million. During the same quarter in the previous year, the business earned ($1.33) EPS. Sell-side analysts expect that Phathom Pharmaceuticals, Inc. will post -4.22 earnings per share for the current year.

Insider Activity at Phathom Pharmaceuticals

In related news, insider Terrie Curran sold 16,851 shares of the firm's stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $9.11, for a total value of $153,512.61. Following the completion of the transaction, the insider now directly owns 410,784 shares of the company's stock, valued at $3,742,242.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Terrie Curran sold 16,851 shares of the firm's stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $9.11, for a total value of $153,512.61. Following the completion of the transaction, the insider now directly owns 410,784 shares of the company's stock, valued at $3,742,242.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the firm's stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $8.10, for a total transaction of $29,999,994.30. Following the completion of the transaction, the insider now directly owns 3,755,583 shares of the company's stock, valued at $30,420,222.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,726,861 shares of company stock valued at $30,202,386. 27.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PHAT. Kennedy Capital Management LLC purchased a new position in Phathom Pharmaceuticals during the second quarter worth $15,031,000. Decheng Capital LLC purchased a new position in Phathom Pharmaceuticals during the fourth quarter worth $7,760,000. Catalys Pacific LLC purchased a new position in Phathom Pharmaceuticals during the fourth quarter worth $6,592,000. Woodline Partners LP purchased a new position in Phathom Pharmaceuticals during the second quarter worth $9,647,000. Finally, BlackRock Inc. boosted its stake in Phathom Pharmaceuticals by 22.6% during the second quarter. BlackRock Inc. now owns 2,002,632 shares of the company's stock worth $28,678,000 after buying an additional 369,722 shares during the period. 99.01% of the stock is owned by hedge funds and other 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.