Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Gap Up to $9.76

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $9.76, but opened at $10.35. Phathom Pharmaceuticals shares last traded at $9.99, with a volume of 187,000 shares trading hands.

Wall Street Analysts Forecast Growth

PHAT has been the subject of several analyst reports. Stifel Nicolaus started coverage on shares of Phathom Pharmaceuticals in a report on Friday. They set a “buy” rating and a $24.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a report on Friday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Phathom Pharmaceuticals Price Performance

The firm has a 50-day simple moving average of $9.79 and a two-hundred day simple moving average of $8.68. The company has a market cap of $587.54 million, a PE ratio of -2.59 and a beta of 0.67.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.12. The firm had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $0.93 million. During the same quarter last year, the firm earned ($1.33) earnings per share. Equities research analysts forecast that Phathom Pharmaceuticals, Inc. will post -4.22 EPS for the current year.

Insider Transactions at Phathom Pharmaceuticals

In related news, insider Terrie Curran sold 16,851 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $9.11, for a total transaction of $153,512.61. Following the transaction, the insider now directly owns 410,784 shares in the company, valued at $3,742,242.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Terrie Curran sold 16,851 shares of the company’s 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 completion of the sale, the insider now directly owns 410,784 shares in the company, valued at approximately $3,742,242.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Molly Henderson sold 3,435 shares of Phathom Pharmaceuticals stock in a transaction on Monday, April 8th. The shares were sold at an average price of $11.10, for a total value of $38,128.50. Following the completion of the transaction, the chief financial officer now owns 95,263 shares in the company, valued at approximately $1,057,419.30. The disclosure for this sale can be found here. Insiders own 24.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. increased its position in shares of Phathom Pharmaceuticals by 355.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock worth $60,000 after acquiring an additional 5,171 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Phathom Pharmaceuticals by 371.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock worth $87,000 after purchasing an additional 6,641 shares during the period. DAVENPORT & Co LLC acquired a new stake in Phathom Pharmaceuticals in the 4th quarter valued at $91,000. Public Employees Retirement System of Ohio purchased a new position in Phathom Pharmaceuticals in the third quarter valued at about $92,000. Finally, Klingman & Associates LLC acquired a new position in shares of Phathom Pharmaceuticals during the first quarter worth about $110,000. Hedge funds and other institutional investors 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.