Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price Down 8.1%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) shares traded down 8.1% on Tuesday . The stock traded as low as $9.67 and last traded at $9.74. 184,623 shares were traded during trading, a decline of 78% from the average session volume of 839,751 shares. The stock had previously closed at $10.60.

Analyst Ratings Changes

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

Phathom Pharmaceuticals Price Performance

The firm's 50-day simple moving average is $8.68 and its two-hundred day simple moving average is $8.76. The company has a market capitalization of $573.10 million, a price-to-earnings ratio of -2.50 and a beta of 0.63.

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

Insider Buying and Selling at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,307 shares of the company's stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $7.75, for a total value of $48,879.25. Following the sale, the chief financial officer now owns 98,698 shares of the company's stock, valued at $764,909.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Phathom Pharmaceuticals news, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the company's stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $8.10, for a total value of $29,999,994.30. Following the sale, the insider now owns 3,755,583 shares of the company's stock, valued at $30,420,222.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Molly Henderson sold 6,307 shares of the company's stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $7.75, for a total transaction of $48,879.25. Following the transaction, the chief financial officer now directly owns 98,698 shares in the company, valued at approximately $764,909.50. The disclosure for this sale can be found here. Insiders have sold 3,726,861 shares of company stock valued at $30,202,386 over the last quarter. Corporate insiders own 7.50% of the company's stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Quantbot Technologies LP lifted its stake in shares of Phathom Pharmaceuticals by 112.6% during the second quarter. Quantbot Technologies LP now owns 5,527 shares of the company's stock valued at $46,000 after buying an additional 2,927 shares during the period. Legal & General Group Plc lifted its stake in shares of Phathom Pharmaceuticals by 20.1% during the second quarter. Legal & General Group Plc now owns 6,328 shares of the company's stock valued at $54,000 after buying an additional 1,061 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Phathom Pharmaceuticals by 2,715.2% during the second quarter. Osaic Holdings Inc. now owns 4,251 shares of the company's stock valued at $59,000 after buying an additional 4,100 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake 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 buying an additional 5,171 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of 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 buying an additional 6,641 shares during the period. Hedge funds and other institutional investors own 99.01% of the company's stock.

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.