Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report)'s stock price traded down 7.8% on Monday . The company traded as low as $11.80 and last traded at $11.26. 362,716 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 1,666,946 shares. The stock had previously closed at $12.21.
Analyst Ratings Changes
Several research firms have issued reports on PHAT. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Phathom Pharmaceuticals in a report on Saturday, September 27th. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price target on shares of Phathom Pharmaceuticals in a research note on Monday, June 9th. Finally, Craig Hallum lifted their price target on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the company a "buy" rating in a research note on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Phathom Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $17.50.
Read Our Latest Research Report on Phathom Pharmaceuticals
Phathom Pharmaceuticals Trading Down 4.9%
The business has a fifty day simple moving average of $11.02 and a 200 day simple moving average of $7.93. The stock has a market capitalization of $823.61 million, a P/E ratio of -2.45 and a beta of 0.43.
Hedge Funds Weigh In On Phathom Pharmaceuticals
Several institutional investors have recently modified their holdings of the business. Frazier Life Sciences Management L.P. boosted its position in Phathom Pharmaceuticals by 23.3% in the second quarter. Frazier Life Sciences Management L.P. now owns 12,466,489 shares of the company's stock worth $119,554,000 after purchasing an additional 2,357,210 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Phathom Pharmaceuticals by 13.4% in the 2nd quarter. Invesco Ltd. now owns 4,140,072 shares of the company's stock worth $39,703,000 after buying an additional 489,260 shares during the last quarter. 683 Capital Management LLC grew its position in Phathom Pharmaceuticals by 45.7% during the second quarter. 683 Capital Management LLC now owns 2,105,000 shares of the company's stock valued at $20,187,000 after buying an additional 660,000 shares during the period. Propel Bio Management LLC increased its holdings in Phathom Pharmaceuticals by 14.6% during the first quarter. Propel Bio Management LLC now owns 1,134,927 shares of the company's stock worth $7,116,000 after buying an additional 145,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Phathom Pharmaceuticals by 5.3% in the second quarter. Geode Capital Management LLC now owns 1,069,927 shares of the company's stock worth $10,263,000 after acquiring an additional 53,504 shares during the period. 99.01% of the stock is 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.
Further Reading
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