Phathom Pharmaceuticals (NASDAQ:PHAT) Trading Down 6.4% - Time to Sell?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) shares were down 6.4% on Monday . The stock traded as low as $8.30 and last traded at $8.35. Approximately 358,546 shares were traded during trading, a decline of 77% from the average daily volume of 1,545,372 shares. The stock had previously closed at $8.92.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PHAT shares. Craig Hallum upped 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. The Goldman Sachs Group cut their target price 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. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, June 6th. Guggenheim cut their target price 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. Finally, HC Wainwright reissued a "buy" rating and issued a $20.00 price objective on shares of Phathom Pharmaceuticals in a research report on Monday, June 9th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Phathom Pharmaceuticals presently has an average rating of "Buy" and a consensus target price of $17.50.

Phathom Pharmaceuticals Stock Performance

The stock's 50-day simple moving average is $6.43 and its 200 day simple moving average is $6.05. The company has a market capitalization of $654.12 million, a PE ratio of -1.79 and a beta of 0.45.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Large investors have recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of 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 buying an additional 4,050 shares during the last quarter. CWM LLC grew its position in shares of Phathom Pharmaceuticals by 20,997.1% in the 1st quarter. CWM LLC now owns 7,384 shares of the company's stock valued at $46,000 after buying an additional 7,349 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $74,000. Teacher Retirement System of Texas purchased a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $90,000. Finally, Rafferty Asset Management LLC purchased a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $90,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

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.