Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Down 6.8% - Should You Sell?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report)'s stock price traded down 6.8% during trading on Monday . The stock traded as low as $10.14 and last traded at $9.71. 258,076 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,509,043 shares. The stock had previously closed at $10.42.

Analyst Ratings Changes

A number of equities analysts have weighed in on PHAT shares. Cantor Fitzgerald raised Phathom Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, February 25th. Craig Hallum raised their price objective on shares of Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Guggenheim decreased their target price on shares of 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 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, June 6th. 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 stock. According to MarketBeat, Phathom Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $17.50.

Phathom Pharmaceuticals Price Performance

The firm's 50 day moving average price is $5.32 and its two-hundred day moving average price is $5.96. The firm has a market cap of $681.35 million, a price-to-earnings ratio of -1.86 and a beta of 0.08.

Institutional Trading of Phathom Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of Phathom Pharmaceuticals by 60.4% during the 4th quarter. Bank of America Corp DE now owns 166,505 shares of the company's stock worth $1,352,000 after purchasing an additional 62,726 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Phathom Pharmaceuticals by 41.3% in the fourth quarter. Wells Fargo & Company MN now owns 25,516 shares of the company's stock worth $207,000 after acquiring an additional 7,462 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Phathom Pharmaceuticals by 36.3% in the fourth quarter. ProShare Advisors LLC now owns 14,289 shares of the company's stock worth $116,000 after acquiring an additional 3,804 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Phathom Pharmaceuticals by 49.4% in the fourth 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 boosted its stake in shares of Phathom Pharmaceuticals by 20.2% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 99.01% of the company's stock.

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.