Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Down 8.9% – Time to Sell?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s stock price traded down 8.9% during mid-day trading on Friday . The stock traded as low as $16.79 and last traded at $16.86. 717,235 shares traded hands during trading, a decline of 13% from the average session volume of 821,795 shares. The stock had previously closed at $18.50.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, September 13th. HC Wainwright restated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research 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.

Phathom Pharmaceuticals Price Performance

The company has a market capitalization of $1.00 billion, a PE ratio of -3.29 and a beta of 0.72. The business has a 50-day moving average of $17.28 and a 200 day moving average of $13.29.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued 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 analysts’ expectations of $5.65 million. As a group, research analysts anticipate that Phathom Pharmaceuticals, Inc. will post -6.03 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Huntington National Bank grew its stake in shares of Phathom Pharmaceuticals by 62.2% during the third quarter. Huntington National Bank now owns 1,471 shares of the company’s stock valued at $27,000 after buying an additional 564 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Phathom Pharmaceuticals by 41.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock valued at $43,000 after buying an additional 722 shares during the last quarter. US Bancorp DE grew its stake in shares of Phathom Pharmaceuticals by 28.6% during the third quarter. US Bancorp DE now owns 5,248 shares of the company’s stock valued at $95,000 after buying an additional 1,166 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Phathom Pharmaceuticals by 42.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock valued at $104,000 after buying an additional 2,987 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Phathom Pharmaceuticals during the first quarter valued at approximately $119,000. Institutional investors 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.