Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report)'s stock price dropped 4.1% on Monday . The stock traded as low as $11.38 and last traded at $11.36. Approximately 101,727 shares changed hands during trading, a decline of 94% from the average daily volume of 1,705,763 shares. The stock had previously closed at $11.84.
Analyst Ratings Changes
PHAT has been the subject of several research analyst reports. HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of Phathom Pharmaceuticals in a research report on Monday, June 9th. Craig Hallum upped their price objective on shares of Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note 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 issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $17.50.
Read Our Latest Stock Analysis on Phathom Pharmaceuticals
Phathom Pharmaceuticals Stock Down 3.0%
The company has a market capitalization of $814.39 million, a PE ratio of -2.43 and a beta of 0.44. The stock's 50 day moving average is $10.15 and its two-hundred day moving average is $7.26.
Hedge Funds Weigh In On Phathom Pharmaceuticals
A number of large investors have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. raised its holdings 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 in the last quarter. Invesco Ltd. raised its holdings in Phathom Pharmaceuticals by 13.4% in the second quarter. Invesco Ltd. now owns 4,140,072 shares of the company's stock worth $39,703,000 after purchasing an additional 489,260 shares in the last quarter. 683 Capital Management LLC raised its holdings in Phathom Pharmaceuticals by 45.7% in the second quarter. 683 Capital Management LLC now owns 2,105,000 shares of the company's stock worth $20,187,000 after purchasing an additional 660,000 shares in the last quarter. Propel Bio Management LLC raised its holdings in Phathom Pharmaceuticals by 14.6% in the first quarter. Propel Bio Management LLC now owns 1,134,927 shares of the company's stock worth $7,116,000 after purchasing an additional 145,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings 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 purchasing an additional 53,504 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors.
Phathom Pharmaceuticals Company Profile
(
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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