Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price Up 9.4% – Should You Buy?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s stock price shot up 9.4% during mid-day trading on Thursday . The stock traded as high as $9.59 and last traded at $9.55. Approximately 522,166 shares were traded during trading, a decline of 43% from the average session volume of 910,218 shares. The stock had previously closed at $8.73.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PHAT shares. HC Wainwright reiterated a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Monday, August 12th. The Goldman Sachs Group increased their price target on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, September 13th.

Phathom Pharmaceuticals Stock Down 1.2 %

The stock’s fifty day moving average price is $15.65 and its 200 day moving average price is $13.30.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of large investors have recently modified their holdings of PHAT. State Board of Administration of Florida Retirement System purchased a new position in Phathom Pharmaceuticals in the 1st quarter worth $119,000. Vanguard Group Inc. increased its stake in Phathom Pharmaceuticals by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,979,113 shares of the company’s stock worth $21,018,000 after purchasing an additional 22,684 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Phathom Pharmaceuticals by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,573 shares of the company’s stock valued at $208,000 after purchasing an additional 2,172 shares during the last quarter. Inspirion Wealth Advisors LLC boosted its stake in shares of Phathom Pharmaceuticals by 4.3% during the second quarter. Inspirion Wealth Advisors LLC now owns 36,634 shares of the company’s stock valued at $377,000 after purchasing an additional 1,500 shares during the period. Finally, LVW Advisors LLC bought a new position in shares of Phathom Pharmaceuticals in the second quarter worth approximately $133,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

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.