Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) shares dropped 3.7% on Friday . The stock traded as low as $9.10 and last traded at $9.13. Approximately 111,017 shares changed hands during trading, a decline of 87% from the average daily volume of 842,120 shares. The stock had previously closed at $9.48.
Analysts Set New Price Targets
Separately, Needham & Company LLC reaffirmed a "buy" rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday.
Check Out Our Latest Stock Report on Phathom Pharmaceuticals
Phathom Pharmaceuticals Stock Down 5.4 %
The company has a market capitalization of $524.92 million, a PE ratio of -2.35 and a beta of 0.63. The company's 50 day moving average is $9.60 and its two-hundred day moving average 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) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.12. The business had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.93 million. During the same quarter last year, the business earned ($1.33) EPS. Analysts forecast that Phathom Pharmaceuticals, Inc. will post -4.22 EPS for the current year.
Insider Buying and Selling at Phathom Pharmaceuticals
In other Phathom Pharmaceuticals news, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the 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 owns 3,755,583 shares in the company, valued at $30,420,222.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 16,851 shares of the 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 owns 410,784 shares in the company, valued at $3,742,242.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the firm's stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $8.10, for a total transaction of $29,999,994.30. Following the completion of the sale, the insider now owns 3,755,583 shares of the company's stock, valued at approximately $30,420,222.30. The disclosure for this sale can be found here. Insiders sold 3,723,989 shares of company stock worth $30,191,635 over the last 90 days. 27.10% of the stock is owned by insiders.
Institutional Investors Weigh In On Phathom Pharmaceuticals
Institutional investors have recently made changes to their positions in the company. Medicxi Ventures Management Jersey Ltd lifted its holdings in Phathom Pharmaceuticals by 98.5% during the 1st quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company's stock valued at $79,274,000 after buying an additional 3,703,703 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Phathom Pharmaceuticals by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 1,956,429 shares of the company's stock valued at $17,862,000 after buying an additional 33,767 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Phathom Pharmaceuticals by 54.7% during the 4th quarter. Wellington Management Group LLP now owns 154,391 shares of the company's stock valued at $1,410,000 after buying an additional 54,581 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Phathom Pharmaceuticals by 51.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 210,211 shares of the company's stock valued at $1,919,000 after buying an additional 71,711 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Phathom Pharmaceuticals by 29.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,401 shares of the company's stock valued at $159,000 after buying an additional 4,007 shares in the last quarter. Institutional investors own 99.01% of the company's stock.
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.
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