Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price Up 6.8% - Still a Buy?

Key Points

• Phathom Pharmaceuticals stock increased by 6.8%, reaching a last trade price of $11.80, although the trading volume was significantly lower than average.
• Wall Street analysts have given a mixed outlook, with one Strong Buy, four Buy, one Hold, and one Sell rating, leading to a consensus rating of "Moderate Buy" and an average target price of $17.50.
• Institutional investors own about 99.01% of Phathom Pharmaceuticals' stock, with notable increases in stakes from several hedge funds during the second quarter.

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) was up 6.8% during mid-day trading on Thursday . The stock traded as high as $11.87 and last traded at $11.80. Approximately 120,889 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 1,665,737 shares. The stock had previously closed at $11.05.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Phathom Pharmaceuticals in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $17.50.

Phathom Pharmaceuticals Trading Up 5.3%

The company has a market cap of $825.74 million, a P/E ratio of -2.46 and a beta of 0.43. The business's fifty day moving average is $11.17 and its 200 day moving average is $8.00.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in Phathom Pharmaceuticals by 0.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company's stock valued at $1,328,000 after buying an additional 1,123 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Phathom Pharmaceuticals by 39.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,311 shares of the company's stock valued at $41,000 after buying an additional 1,216 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Phathom Pharmaceuticals by 9.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,826 shares of the company's stock valued at $152,000 after buying an additional 1,364 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Phathom Pharmaceuticals by 58.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company's stock valued at $55,000 after buying an additional 2,102 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Phathom Pharmaceuticals by 71.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company's stock valued at $49,000 after buying an additional 2,122 shares in the last quarter. Institutional investors own 99.01% of the company's stock.

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.

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