Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Gap Down – Here’s Why

by · The Markets Daily

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT – Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $9.45, but opened at $9.02. Phathom Pharmaceuticals shares last traded at $9.64, with a volume of 266,358 shares changing hands.

Wall Street Analysts Forecast Growth

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

View Our Latest Research Report on Phathom Pharmaceuticals

Phathom Pharmaceuticals Price Performance

The stock’s 50-day moving average is $15.83 and its 200 day moving average is $13.31. The company has a market cap of $654.40 million, a PE ratio of -1.66 and a beta of 0.72.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PHAT. Barclays PLC grew its position in shares of Phathom Pharmaceuticals by 366.0% during the 3rd quarter. Barclays PLC now owns 57,807 shares of the company’s stock valued at $1,044,000 after acquiring an additional 45,402 shares during the period. Geode Capital Management LLC increased its position in shares of Phathom Pharmaceuticals by 7.1% in the third quarter. Geode Capital Management LLC now owns 862,918 shares of the company’s stock valued at $15,605,000 after buying an additional 56,871 shares in the last quarter. MML Investors Services LLC raised its stake in shares of Phathom Pharmaceuticals by 72.8% during the 3rd quarter. MML Investors Services LLC now owns 33,860 shares of the company’s stock worth $612,000 after buying an additional 14,260 shares during the period. State Street Corp raised its stake in shares of Phathom Pharmaceuticals by 17.5% during the 3rd quarter. State Street Corp now owns 922,788 shares of the company’s stock worth $16,684,000 after buying an additional 137,539 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Phathom Pharmaceuticals during the 3rd quarter valued at approximately $7,952,000. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Company Profile

(Get Free Report)

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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