Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price Down 4.6% - Should You Sell?

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) traded down 4.6% on Monday . The company traded as low as $10.20 and last traded at $10.16. 317,317 shares changed hands during trading, a decline of 79% from the average session volume of 1,490,182 shares. The stock had previously closed at $10.64.

Wall Street Analyst Weigh In

PHAT has been the topic of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, June 6th. Guggenheim reduced their price target on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. The Goldman Sachs Group reduced their price target on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. 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, Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $17.50.

Phathom Pharmaceuticals Stock Performance

The company's fifty day simple moving average is $4.60 and its 200-day simple moving average is $5.89. The company has a market capitalization of $722.57 million, a P/E ratio of -1.82 and a beta of 0.08.

Institutional Trading of Phathom Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. acquired a new stake in Phathom Pharmaceuticals in the 1st quarter worth approximately $3,738,000. AQR Capital Management LLC boosted its stake in Phathom Pharmaceuticals by 508.2% in the 1st quarter. AQR Capital Management LLC now owns 107,399 shares of the company's stock worth $673,000 after purchasing an additional 89,741 shares in the last quarter. 683 Capital Management LLC raised its position in Phathom Pharmaceuticals by 41.0% during the 1st quarter. 683 Capital Management LLC now owns 1,445,000 shares of the company's stock worth $9,060,000 after buying an additional 420,000 shares during the last quarter. Propel Bio Management LLC raised its position in Phathom Pharmaceuticals by 14.6% during the 1st 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, Trexquant Investment LP raised its position in Phathom Pharmaceuticals by 5.3% during the 1st quarter. Trexquant Investment LP now owns 398,751 shares of the company's stock worth $2,500,000 after buying an additional 20,114 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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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