Phathom Pharmaceuticals (NASDAQ:PHAT) Sees Unusually-High Trading Volume - Time to Buy?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) saw strong trading volume on Friday . 3,778,055 shares changed hands during trading, an increase of 215% from the previous session's volume of 1,199,689 shares.The stock last traded at $10.66 and had previously closed at $4.69.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, February 25th. Guggenheim dropped their price objective on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Craig Hallum reissued a "buy" rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Needham & Company LLC reissued a "buy" rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday. Finally, HC Wainwright decreased their target price on shares of Phathom Pharmaceuticals from $28.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $17.60.

Phathom Pharmaceuticals Price Performance

The stock's 50-day moving average is $4.14 and its 200-day moving average is $5.92. The stock has a market cap of $622.74 million, a price-to-earnings ratio of -1.57 and a beta of 0.15.

Institutional Trading of Phathom Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Phathom Pharmaceuticals by 60.4% during the fourth quarter. Bank of America Corp DE now owns 166,505 shares of the company's stock worth $1,352,000 after acquiring an additional 62,726 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Phathom Pharmaceuticals by 41.3% in the 4th quarter. Wells Fargo & Company MN now owns 25,516 shares of the company's stock valued at $207,000 after purchasing an additional 7,462 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Phathom Pharmaceuticals by 36.3% in the 4th quarter. ProShare Advisors LLC now owns 14,289 shares of the company's stock valued at $116,000 after purchasing an additional 3,804 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Phathom Pharmaceuticals by 49.4% in the 4th quarter. Deutsche Bank AG now owns 30,213 shares of the company's stock valued at $245,000 after purchasing an additional 9,986 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $3,701,000. Institutional investors and hedge funds own 99.01% of the company's stock.

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.