Traders Purchase High Volume of Call Options on Phathom Pharmaceuticals (NASDAQ:PHAT)

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) was the recipient of unusually large options trading activity on Monday. Traders bought 2,377 call options on the stock. This is an increase of approximately 134% compared to the average volume of 1,017 call options.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PHAT shares. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday. Craig Hallum upped their price target on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the company a "buy" rating in a research report on Monday. Guggenheim lowered their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a report on Monday. Finally, Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, February 25th. 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. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $17.50.

Phathom Pharmaceuticals Trading Down 9.2%

Shares of NASDAQ:PHAT traded down $0.82 on Monday, reaching $8.10. 5,340,490 shares of the company traded hands, compared to its average volume of 1,894,793. The stock has a market capitalization of $565.35 million, a P/E ratio of -1.42 and a beta of 0.08. The business's 50-day simple moving average is $4.14 and its 200 day simple moving average is $5.87. Phathom Pharmaceuticals has a 52 week low of $2.21 and a 52 week high of $19.71.

Institutional Trading of Phathom Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Phathom Pharmaceuticals by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 2,779,561 shares of the company's stock valued at $22,570,000 after buying an additional 83,238 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of Phathom Pharmaceuticals by 531.3% during the fourth quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company's stock worth $12,658,000 after purchasing an additional 1,311,986 shares during the period. 683 Capital Management LLC boosted its holdings in shares of Phathom Pharmaceuticals by 41.0% during the first quarter. 683 Capital Management LLC now owns 1,445,000 shares of the company's stock worth $9,060,000 after purchasing an additional 420,000 shares during the period. Catalys Pacific LLC grew its stake in shares of Phathom Pharmaceuticals by 4.0% in the fourth quarter. Catalys Pacific LLC now owns 1,167,114 shares of the company's stock worth $9,477,000 after purchasing an additional 44,542 shares during the last quarter. Finally, Propel Bio Management LLC raised its position in Phathom Pharmaceuticals by 14.6% during the 1st quarter. Propel Bio Management LLC now owns 1,134,927 shares of the company's stock valued at $7,116,000 after purchasing an additional 145,000 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company's stock.

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.

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