Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Down 6% – What’s Next?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s stock price traded down 6% during trading on Wednesday . The company traded as low as $12.08 and last traded at $11.9970. 674,263 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 1,148,278 shares. The stock had previously closed at $12.76.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Craig Hallum reissued a “buy” rating and set a $22.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, October 31st. Barclays started coverage on Phathom Pharmaceuticals in a research report on Monday, December 8th. They set an “equal weight” rating and a $16.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, January 14th. HC Wainwright boosted their price objective on shares of Phathom Pharmaceuticals from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Phathom Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $20.71.

Phathom Pharmaceuticals Price Performance

The stock has a market capitalization of $848.47 million, a PE ratio of -3.11 and a beta of 0.51. The firm has a fifty day moving average price of $14.83 and a two-hundred day moving average price of $13.37.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PHAT. VARCOV Co. purchased a new position in Phathom Pharmaceuticals in the 4th quarter worth about $1,439,000. Virtus Investment Advisers LLC grew its stake in Phathom Pharmaceuticals by 5.9% in the 4th quarter. Virtus Investment Advisers LLC now owns 46,937 shares of the company’s stock worth $779,000 after acquiring an additional 2,631 shares in the last quarter. SummitTX Capital L.P. grew its stake in Phathom Pharmaceuticals by 34.2% in the 4th quarter. SummitTX Capital L.P. now owns 517,820 shares of the company’s stock worth $8,591,000 after acquiring an additional 131,852 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Phathom Pharmaceuticals during the fourth quarter worth approximately $357,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $734,000. 99.01% of the stock is currently owned by institutional investors.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company’s core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom’s research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company’s lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.