Phathom Pharmaceuticals Target of Unusually Large Options Trading (NASDAQ:PHAT)

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) was the recipient of unusually large options trading on Monday. Stock traders bought 2,377 call options on the company. This is an increase of 134% compared to the typical daily volume of 1,017 call options.

Phathom Pharmaceuticals Stock Performance

Shares of PHAT opened at $8.83 on Tuesday. The stock has a 50 day moving average price of $4.21 and a 200 day moving average price of $5.87. The stock has a market capitalization of $616.46 million, a price-to-earnings ratio of -1.55 and a beta of 0.08. Phathom Pharmaceuticals has a one year low of $2.21 and a one year high of $19.71.

Analyst Upgrades and Downgrades

PHAT has been the topic of a number of recent research reports. Guggenheim lowered their target price on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday. The Goldman Sachs Group cut their target price on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Craig Hallum lifted their price objective on shares of Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $17.50.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of hedge funds have recently modified their holdings of PHAT. Jacobs Levy Equity Management Inc. purchased a new position in shares of Phathom Pharmaceuticals in the 1st quarter valued at about $3,738,000. AQR Capital Management LLC grew its stake in shares of Phathom Pharmaceuticals by 508.2% in the 1st quarter. AQR Capital Management LLC now owns 107,399 shares of the company’s stock valued at $673,000 after purchasing an additional 89,741 shares during the last quarter. 683 Capital Management LLC grew its stake in shares of Phathom Pharmaceuticals by 41.0% in the 1st quarter. 683 Capital Management LLC now owns 1,445,000 shares of the company’s stock valued at $9,060,000 after purchasing an additional 420,000 shares during the last quarter. Propel Bio Management LLC grew its stake in shares of Phathom Pharmaceuticals by 14.6% in the 1st quarter. Propel Bio Management LLC now owns 1,134,927 shares of the company’s stock valued at $7,116,000 after purchasing an additional 145,000 shares during the last quarter. Finally, Trexquant Investment LP boosted its stake in shares of Phathom Pharmaceuticals by 5.3% in the first quarter. Trexquant Investment LP now owns 398,751 shares of the company’s stock valued at $2,500,000 after buying an additional 20,114 shares in the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

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.