Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Up 4.4% - Still a Buy?

Key Points

• Phathom Pharmaceuticals' share price increased by 4.4% to $10.94, despite a significant drop in trading volume compared to its average.
• Analysts have given mixed ratings, with one citing a buy rating and a $20.00 price target, while others have issued lower targets, with the average stock rating remaining a Buy.
• Institutional investors own 99.01% of the company's stock, with notable increases in holdings from several hedge funds in recent quarters.

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report)'s stock price was up 4.4% during trading on Thursday . The company traded as high as $10.95 and last traded at $10.94. Approximately 294,319 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,788,699 shares. The stock had previously closed at $10.48.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Guggenheim reduced their target price on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating for the company in a report on Friday, May 2nd. HC Wainwright reiterated a "buy" rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a research note on Monday, June 9th. The Goldman Sachs Group reduced their target price on Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Craig Hallum increased their price objective on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Friday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $17.50.

Phathom Pharmaceuticals Stock Up 2.8%

The firm has a market cap of $736.40 million, a price-to-earnings ratio of -2.19 and a beta of 0.45. The business's 50-day simple moving average is $9.32 and its two-hundred day simple moving average is $6.43.

Institutional Trading of Phathom Pharmaceuticals

Several institutional investors have recently modified their holdings of PHAT. Geode Capital Management LLC lifted its stake in Phathom Pharmaceuticals by 18.0% in the 4th quarter. Geode Capital Management LLC now owns 1,018,495 shares of the company's stock valued at $8,272,000 after buying an additional 155,577 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Phathom Pharmaceuticals by 41.3% during the 4th quarter. Wells Fargo & Company MN now owns 25,516 shares of the company's stock worth $207,000 after purchasing an additional 7,462 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Phathom Pharmaceuticals during the fourth quarter worth about $3,701,000. Barclays PLC grew its stake in Phathom Pharmaceuticals by 32.3% during the 4th quarter. Barclays PLC now owns 76,463 shares of the company's stock valued at $621,000 after acquiring an additional 18,656 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Phathom Pharmaceuticals in the 4th quarter worth approximately $796,000. Institutional investors and hedge funds 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.