Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) were down 6.2% on Thursday following insider selling activity. The stock traded as low as $11.02 and last traded at $11.07. Approximately 407,143 shares were traded during trading, a decline of 53% from the average daily volume of 860,175 shares. The stock had previously closed at $11.80.
Specifically, CFO Molly Henderson sold 6,307 shares of the business's stock in a transaction on Friday, January 19th. The stock was sold at an average price of $7.75, for a total transaction of $48,879.25. Following the completion of the sale, the chief financial officer now owns 98,698 shares in the company, valued at $764,909.50. The transaction was disclosed in a filing with the SEC, which is available at
this hyperlink. In other Phathom Pharmaceuticals news, 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 value of $48,879.25. Following the completion of 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. Also, insider
Terrie Curran sold 16,851 shares of the business's stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $9.11, for a total transaction 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 approximately $3,742,242.24. The disclosure for this sale can be found
here. In the last ninety days, insiders have sold 3,730,296 shares of company stock worth $30,240,515. Insiders own 27.10% of the company's stock.
Wall Street Analyst Weigh In
Separately, Needham & Company LLC reissued a "buy" rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a research report on Thursday.
Read Our Latest Stock Analysis on PHAT
Phathom Pharmaceuticals Trading Down 11.3 %
The company has a market cap of $612.25 million, a price-to-earnings ratio of -2.70 and a beta of 0.63. The business's 50 day moving average price is $9.31 and its 200-day moving average price is $8.77.
Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($0.80) earnings per share (EPS) 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 last year, the business earned ($1.33) earnings per share. Equities research analysts forecast that Phathom Pharmaceuticals, Inc. will post -4.22 EPS for the current fiscal year.
Institutional Trading of Phathom Pharmaceuticals
Institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP increased its position in Phathom Pharmaceuticals by 112.6% during the second quarter. Quantbot Technologies LP now owns 5,527 shares of the company's stock worth $46,000 after acquiring an additional 2,927 shares during the period. Legal & General Group Plc raised its position in shares of Phathom Pharmaceuticals by 20.1% in 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 in the last quarter. Osaic Holdings Inc. raised its position in shares of Phathom Pharmaceuticals by 2,715.2% in 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 in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Phathom Pharmaceuticals by 355.4% during the 4th 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 period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Phathom Pharmaceuticals by 371.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company's stock worth $87,000 after buying an additional 6,641 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors.
About Phathom Pharmaceuticals
(
Get Free Report)
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.
See Also
Before you consider Phathom Pharmaceuticals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Phathom Pharmaceuticals wasn't on the list.
While Phathom Pharmaceuticals currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
