Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT – Get Free Report) was down 3.4% on Monday . The company traded as low as $14.52 and last traded at $14.58. Approximately 145,864 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 802,677 shares. The stock had previously closed at $15.09.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on PHAT shares. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, September 13th. HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Monday, August 12th. Finally, The Goldman Sachs Group boosted their price objective on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, August 9th.
Get Our Latest Research Report on Phathom Pharmaceuticals
Phathom Pharmaceuticals Trading Up 1.2 %
Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.04. The company had revenue of $7.32 million for the quarter, compared to analyst estimates of $5.65 million. As a group, research analysts expect that Phathom Pharmaceuticals, Inc. will post -6.03 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Phathom Pharmaceuticals by 42.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock worth $104,000 after acquiring an additional 2,987 shares during the period. Klingman & Associates LLC acquired a new stake in shares of Phathom Pharmaceuticals in the first quarter valued at $110,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Phathom Pharmaceuticals by 65.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 10,989 shares of the company’s stock valued at $117,000 after buying an additional 4,363 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in shares of Phathom Pharmaceuticals in the first quarter valued at $119,000. Finally, LVW Advisors LLC acquired a new stake in shares of Phathom Pharmaceuticals in the second quarter valued at $133,000. Institutional investors and hedge funds 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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