Phathom Pharmaceuticals (NASDAQ:PHAT) Trading 5.6% Higher

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) shares traded up 5.6% during mid-day trading on Tuesday . The company traded as high as $11.26 and last traded at $11.04. 248,973 shares were traded during trading, a decline of 70% from the average session volume of 839,380 shares. The stock had previously closed at $10.45.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC restated a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, March 22nd.

Phathom Pharmaceuticals Stock Up 5.2 %

The company has a fifty day simple moving average of $8.50 and a two-hundred day simple moving average of $8.85. The company has a debt-to-equity ratio of 5.56, a quick ratio of 10.22 and a current ratio of 10.25. The firm has a market capitalization of $646.20 million, a PE ratio of -2.85 and a beta of 0.63.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its earnings results on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.12. The company had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.93 million. During the same period in the previous year, the firm earned ($1.33) earnings per share. Analysts forecast that Phathom Pharmaceuticals, Inc. will post -4.22 EPS for the current fiscal year.

Insider Transactions at Phathom Pharmaceuticals

In other news, CFO Molly Henderson sold 6,307 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $7.75, for a total transaction of $48,879.25. Following the completion of the transaction, the chief financial officer now directly owns 98,698 shares of the company’s stock, valued at approximately $764,909.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 16,851 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $9.11, for a total transaction of $153,512.61. Following the sale, the insider now owns 410,784 shares in the company, valued at approximately $3,742,242.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Molly Henderson sold 6,307 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $7.75, for a total value of $48,879.25. Following the sale, the chief financial officer now owns 98,698 shares in the company, valued at approximately $764,909.50. The disclosure for this sale can be found here. In the last three months, insiders sold 3,726,861 shares of company stock valued at $30,202,386. Corporate insiders own 27.10% of the company’s stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several hedge funds have recently made changes to their positions in PHAT. Invesco Ltd. raised its position in shares of Phathom Pharmaceuticals by 2.6% in the 3rd quarter. Invesco Ltd. now owns 3,418,959 shares of the company’s stock worth $35,455,000 after buying an additional 86,822 shares during the period. Algert Global LLC purchased a new position in Phathom Pharmaceuticals in the third quarter valued at about $952,000. Principal Financial Group Inc. purchased a new position in Phathom Pharmaceuticals in the second quarter valued at about $151,000. Trexquant Investment LP raised its position in Phathom Pharmaceuticals by 221.4% in the third quarter. Trexquant Investment LP now owns 58,825 shares of the company’s stock valued at $610,000 after purchasing an additional 40,524 shares during the period. Finally, GSA Capital Partners LLP raised its position in Phathom Pharmaceuticals by 126.1% in the third quarter. GSA Capital Partners LLP now owns 121,892 shares of the company’s stock valued at $1,264,000 after purchasing an additional 67,983 shares during the period. 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.