Phathom Pharmaceuticals (NASDAQ:PHAT) Trading Down 4.1% - Time to Sell?

Key Points

• Phathom Pharmaceuticals' stock price declined by 4.1% to $11.36, with a significant drop in trading volume by 94% compared to its average.
• Several analysts maintain a Buy rating for the stock, with target prices ranging between $17.00 and $28.00, and a consensus target price of $17.50.
• Institutional investors currently hold 99.01% of Phathom Pharmaceuticals' stock, with significant stakes increased by various large investors in the recent quarter.

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) fell 4.1% during mid-day trading on Monday . The stock traded as low as $11.38 and last traded at $11.36. 101,727 shares changed hands during trading, a decline of 94% from the average session volume of 1,705,763 shares. The stock had previously closed at $11.84.

Analysts Set New Price Targets

PHAT has been the subject of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, June 6th. HC Wainwright reiterated a "buy" rating and issued a $20.00 price objective on shares of Phathom Pharmaceuticals in a research report on Monday, June 9th. Finally, Craig Hallum upped their price objective on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. One research 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. According to data from MarketBeat.com, Phathom Pharmaceuticals presently has an average rating of "Buy" and a consensus price target of $17.50.

Phathom Pharmaceuticals Stock Down 4.6%

The firm has a fifty day simple moving average of $10.36 and a 200-day simple moving average of $7.43. The company has a market cap of $795.24 million, a PE ratio of -2.37 and a beta of 0.44.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of Phathom Pharmaceuticals by 797.2% during the 1st quarter. GAMMA Investing LLC now owns 4,558 shares of the company's stock valued at $29,000 after purchasing an additional 4,050 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Phathom Pharmaceuticals during the 2nd quarter valued at $30,000. Ameritas Investment Partners Inc. lifted its holdings in Phathom Pharmaceuticals by 39.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,311 shares of the company's stock valued at $41,000 after purchasing an additional 1,216 shares during the last quarter. CWM LLC lifted its stake in Phathom Pharmaceuticals by 20,997.1% in the first quarter. CWM LLC now owns 7,384 shares of the company's stock worth $46,000 after acquiring an additional 7,349 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Phathom Pharmaceuticals by 71.9% in the second quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company's stock worth $49,000 after purchasing an additional 2,122 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors.

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.