Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Down 6% - Should You Sell?

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) traded down 6% on Tuesday . The company traded as low as $8.48 and last traded at $8.52. 125,046 shares were traded during mid-day trading, a decline of 92% from the average session volume of 1,542,030 shares. The stock had previously closed at $9.06.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Needham & Company LLC restated a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, June 6th. Guggenheim decreased their price target on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Craig Hallum lifted their target price on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. The Goldman Sachs Group reduced their target price on Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of Phathom Pharmaceuticals in a research note on Monday, June 9th. One 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 stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $17.50.

Phathom Pharmaceuticals Trading Down 4.4%

The company has a 50 day moving average price of $7.38 and a 200 day moving average price of $6.11. The company has a market capitalization of $554.99 million, a P/E ratio of -1.52 and a beta of 0.45.

Institutional Trading of Phathom Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Kera Capital Partners Inc. boosted its stake in 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 purchasing an additional 3,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Phathom Pharmaceuticals by 18.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,149 shares of the company's stock valued at $180,000 after purchasing an additional 3,408 shares during the period. ProShare Advisors LLC boosted its stake 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 purchasing an additional 3,804 shares during the period. GAMMA Investing LLC boosted its stake in Phathom Pharmaceuticals by 797.2% in 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 during the period. Finally, Bank of New York Mellon Corp boosted its stake in Phathom Pharmaceuticals by 4.6% in the 4th 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 period. 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.