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

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) traded down 4.6% during trading on Monday . The stock traded as low as $10.20 and last traded at $10.16. 317,317 shares were traded 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 Analysts Forecast Growth

Several research analysts have recently commented on the company. Guggenheim reduced their price target on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. The Goldman Sachs Group reduced their price target on Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. HC Wainwright reiterated a "buy" rating and set a $20.00 price target on shares of Phathom Pharmaceuticals in a report on Monday, June 9th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $17.50.

Phathom Pharmaceuticals Trading Up 3.8%

The stock has a market capitalization of $760.93 million, a PE ratio of -2.08 and a beta of 0.08. The firm's fifty day moving average is $5.11 and its 200-day moving average is $5.98.

Institutional Trading of Phathom Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in Phathom Pharmaceuticals by 60.4% in the 4th quarter. Bank of America Corp DE now owns 166,505 shares of the company's stock valued at $1,352,000 after buying an additional 62,726 shares during the period. Wells Fargo & Company MN grew its position in Phathom Pharmaceuticals by 41.3% in the 4th quarter. Wells Fargo & Company MN now owns 25,516 shares of the company's stock valued at $207,000 after acquiring an additional 7,462 shares in the last quarter. ProShare Advisors LLC grew its position in Phathom Pharmaceuticals by 36.3% in the 4th quarter. ProShare Advisors LLC now owns 14,289 shares of the company's stock valued at $116,000 after acquiring an additional 3,804 shares in the last quarter. Deutsche Bank AG grew its position in Phathom Pharmaceuticals by 49.4% in the 4th quarter. Deutsche Bank AG now owns 30,213 shares of the company's stock valued at $245,000 after acquiring an additional 9,986 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Phathom Pharmaceuticals by 20.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,803 shares of the company's stock valued at $957,000 after acquiring an additional 19,778 shares in the last quarter. 99.01% of the stock is currently owned by hedge funds and other 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.