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 share price shot up 4.4% on Thursday . The company traded as high as $10.95 and last traded at $10.94. 294,319 shares traded hands during trading, a decline of 84% from the average session volume of 1,788,699 shares. The stock had previously closed at $10.48.

Analyst Upgrades and Downgrades

PHAT has been the subject of several recent analyst reports. HC Wainwright reissued a "buy" rating and issued a $20.00 price target on shares of Phathom Pharmaceuticals in a report on Monday, June 9th. The Goldman Sachs Group dropped their price objective 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. Guggenheim dropped their price target on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, June 6th. Finally, Craig Hallum raised their price objective on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a "buy" rating in a report on Monday, June 9th. One equities 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. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $17.50.

Phathom Pharmaceuticals Stock Up 2.7%

The stock has a market cap of $763.31 million, a price-to-earnings ratio of -2.26 and a beta of 0.45. The stock has a fifty day moving average of $9.15 and a two-hundred day moving average of $6.34.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Phathom Pharmaceuticals by 797.2% in the first quarter. GAMMA Investing LLC now owns 4,558 shares of the company's stock valued at $29,000 after acquiring an additional 4,050 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Phathom Pharmaceuticals by 39.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,311 shares of the company's stock worth $41,000 after purchasing an additional 1,216 shares in the last quarter. CWM LLC lifted its stake in shares of Phathom Pharmaceuticals by 20,997.1% during the first quarter. CWM LLC now owns 7,384 shares of the company's stock worth $46,000 after purchasing an additional 7,349 shares in the last quarter. Rafferty Asset Management LLC acquired a new position in shares of Phathom Pharmaceuticals during the fourth quarter worth about $90,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Phathom Pharmaceuticals during the second quarter worth about $90,000. 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.

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