Phathom Pharmaceuticals (NASDAQ:PHAT) Reaches New 12-Month Low - Time to Sell?

Key Points

• Phathom Pharmaceuticals shares fell to a new 52-week low of $7.66, closing near $7.69 versus the prior close of $8.16.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $21.25, despite differing ratings and recent target-price reductions.
• Institutional investors own approximately 99.01% of the stock; the company is focused on gastrointestinal treatments, led by its Voquezna product for H. pylori infection.

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $7.66 and last traded at $7.69, with a volume of 2071393 shares traded. The stock had previously closed at $8.16.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PHAT shares. Needham & Company LLC reduced their price objective on Phathom Pharmaceuticals from $28.00 to $22.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Leerink Partners initiated coverage on shares of Phathom Pharmaceuticals in a research report on Wednesday, September 9th. They set a "market perform" rating and a $10.00 target price for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Phathom Pharmaceuticals in a report on Friday, July 17th. HC Wainwright reaffirmed a "buy" rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, July 31st. Finally, Craig Hallum reiterated a "buy" rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $21.25.

Phathom Pharmaceuticals Price Performance

The company has a market cap of $622.12 million, a PE ratio of -6.01 and a beta of 0.51. The company has a 50-day moving average price of $9.65 and a two-hundred day moving average price of $10.68.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Opaleye Management Inc. acquired a new stake in Phathom Pharmaceuticals in the second quarter valued at approximately $2,014,000. Engineers Gate Manager LP boosted its stake in shares of Phathom Pharmaceuticals by 60.1% in the second quarter. Engineers Gate Manager LP now owns 118,257 shares of the company's stock valued at $1,283,000 after purchasing an additional 44,409 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Phathom Pharmaceuticals by 11.5% in the second quarter. NewEdge Advisors LLC now owns 203,962 shares of the company's stock valued at $2,213,000 after purchasing an additional 20,962 shares during the period. Pale Fire Capital SE acquired a new stake in Phathom Pharmaceuticals during the 2nd quarter valued at $539,000. Finally, Hsbc Holdings PLC purchased a new stake in Phathom Pharmaceuticals during the 2nd quarter worth $7,702,000. Hedge funds and other institutional investors own 99.01% of the company's stock.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for gastrointestinal diseases. The company's primary product is Voquezna (vonoprazan), a potassium-competitive acid blocker designed to suppress gastric acid production through a mechanism distinct from traditional proton pump inhibitors.

In the United States, Voquezna is approved for use in combination regimens to eradicate Helicobacter pylori (H. pylori) infection in adults.

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