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

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) was the recipient of some unusual options trading activity on Monday. Investors acquired 2,377 call options on the company. This is an increase of 134% compared to the typical volume of 1,017 call options.

Institutional Investors Weigh In On Phathom Pharmaceuticals

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

Analysts Set New Price Targets

Several equities analysts have issued reports on PHAT shares. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a report on Monday. Craig Hallum raised their price target on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a "buy" rating in a research note on Monday. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, June 6th. Cantor Fitzgerald raised Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. Finally, 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 report on Friday, May 2nd. 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

Shares of PHAT stock traded up $0.99 during trading hours on Thursday, reaching $10.03. 3,584,464 shares of the company's stock were exchanged, compared to its average volume of 1,475,014. The company's 50 day moving average is $4.37 and its two-hundred day moving average is $5.91. The company has a market cap of $700.23 million, a P/E ratio of -1.76 and a beta of 0.08. Phathom Pharmaceuticals has a 1 year low of $2.21 and a 1 year high of $19.71.

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.