HC Wainwright Reaffirms “Buy” Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

HC Wainwright reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research note published on Friday,Benzinga reports. They currently have a $28.00 price target on the stock.

Other research analysts have also issued reports about the company. Cantor Fitzgerald raised Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Thursday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $23.00.

Phathom Pharmaceuticals Stock Down 14.2 %

PHAT opened at $5.06 on Friday. The business has a fifty day moving average of $6.35 and a 200 day moving average of $11.22. Phathom Pharmaceuticals has a 52-week low of $5.02 and a 52-week high of $19.71. The stock has a market cap of $345.99 million, a P/E ratio of -0.89 and a beta of 0.63.

Insider Activity

In other news, CFO Molly Henderson sold 6,583 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $43,381.97. Following the transaction, the chief financial officer now directly owns 93,546 shares of the company’s stock, valued at approximately $616,468.14. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Terrie Curran sold 19,109 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $125,928.31. Following the completion of the transaction, the insider now directly owns 360,465 shares in the company, valued at $2,375,464.35. This represents a 5.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,987 shares of company stock valued at $240,551. Company insiders own 24.10% of the company’s stock.

Institutional Trading of Phathom Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Huntington National Bank boosted its stake in shares of Phathom Pharmaceuticals by 62.2% in the third quarter. Huntington National Bank now owns 1,471 shares of the company’s stock worth $27,000 after buying an additional 564 shares during the last quarter. US Bancorp DE boosted its stake in shares of Phathom Pharmaceuticals by 28.6% in the third quarter. US Bancorp DE now owns 5,248 shares of the company’s stock worth $95,000 after buying an additional 1,166 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Phathom Pharmaceuticals in the fourth quarter worth about $74,000. Quest Partners LLC purchased a new position in Phathom Pharmaceuticals during the third quarter worth approximately $197,000. Finally, Teacher Retirement System of Texas purchased a new position in Phathom Pharmaceuticals during the fourth quarter worth approximately $90,000. Hedge funds and other 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.