Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report)'s share price dropped 6% during mid-day trading on Tuesday . The company traded as low as $8.48 and last traded at $8.52. Approximately 125,046 shares traded hands during trading, a decline of 92% from the average daily volume of 1,542,030 shares. The stock had previously closed at $9.06.
Analyst Ratings Changes
A number of research firms have issued reports on PHAT. HC Wainwright reiterated a "buy" rating and issued a $20.00 target price on shares of Phathom Pharmaceuticals in a research note on Monday, June 9th. The Goldman Sachs Group cut their price objective on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Guggenheim lowered 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 report on Friday, May 2nd. Craig Hallum boosted their target price 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 restated a "buy" rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, June 6th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $17.50.
View Our Latest Stock Analysis on Phathom Pharmaceuticals
Phathom Pharmaceuticals Stock Down 8.3%
The firm has a market capitalization of $580.12 million, a P/E ratio of -1.60 and a beta of 0.45. The firm's 50-day simple moving average is $6.92 and its 200-day simple moving average is $6.08.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in PHAT. Kera Capital Partners Inc. increased its holdings in shares of Phathom Pharmaceuticals by 11.2% in the 1st quarter. Kera Capital Partners Inc. now owns 29,849 shares of the company's stock valued at $187,000 after acquiring an additional 3,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Phathom Pharmaceuticals by 18.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,149 shares of the company's stock valued at $180,000 after acquiring an additional 3,408 shares during the last quarter. ProShare Advisors LLC increased its stake in Phathom Pharmaceuticals by 36.3% during the 4th quarter. ProShare Advisors LLC now owns 14,289 shares of the company's stock worth $116,000 after buying an additional 3,804 shares during the period. GAMMA Investing LLC lifted its position 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 worth $29,000 after purchasing an additional 4,050 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Phathom Pharmaceuticals by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company's stock valued at $834,000 after purchasing an additional 4,557 shares during the last quarter. 99.01% of the stock is owned by hedge funds and other 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.
See Also
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