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

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) gapped up before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PHAT shares. Needham & Company LLC reissued a “buy” rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a report on Friday. Stifel Nicolaus started coverage on shares of Phathom Pharmaceuticals in a research note on Friday. They issued a “buy” rating and a $24.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Phathom Pharmaceuticals Stock Performance

The company has a market cap of $587.54 million, a PE ratio of -2.59 and a beta of 0.67. The company has a fifty day moving average of $9.78 and a two-hundred day moving average of $8.68.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.12. The firm had revenue of $0.68 million during the quarter, compared to the consensus estimate of $0.93 million. During the same quarter last year, the business posted ($1.33) EPS. On average, equities analysts forecast that Phathom Pharmaceuticals, Inc. will post -4.22 EPS for the current year.

Insider Buying and Selling at Phathom Pharmaceuticals

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

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. grew its position in Phathom Pharmaceuticals by 355.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock worth $60,000 after purchasing an additional 5,171 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Phathom Pharmaceuticals by 371.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock valued at $87,000 after buying an additional 6,641 shares during the last quarter. DAVENPORT & Co LLC acquired a new position in shares of 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 3rd quarter worth $92,000. Finally, Klingman & Associates LLC acquired a new stake in Phathom Pharmaceuticals during the 1st quarter worth about $110,000. Institutional investors and hedge funds 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.