Phathom Pharmaceuticals Sees Unusually Large Options Volume (NASDAQ:PHAT)

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Guggenheim decreased their price target on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Craig Hallum increased their price target on shares of Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, June 6th. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Phathom Pharmaceuticals in a research note on Monday. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $17.50.

Phathom Pharmaceuticals Price Performance

NASDAQ:PHAT opened at $8.97 on Wednesday. Phathom Pharmaceuticals has a one year low of $2.21 and a one year high of $19.71. The company’s 50-day simple moving average is $4.29 and its 200 day simple moving average is $5.89. The firm has a market capitalization of $626.23 million, a P/E ratio of -1.58 and a beta of 0.08.

Institutional Trading of Phathom Pharmaceuticals

A number of large investors have recently made changes to their positions in PHAT. Kera Capital Partners Inc. grew its position in Phathom Pharmaceuticals by 11.2% during the first quarter. Kera Capital Partners Inc. now owns 29,849 shares of the company’s stock valued at $187,000 after buying an additional 3,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Phathom Pharmaceuticals by 18.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,149 shares of the company’s stock valued at $180,000 after purchasing an additional 3,408 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Phathom Pharmaceuticals by 36.3% during the fourth quarter. ProShare Advisors LLC now owns 14,289 shares of the company’s stock worth $116,000 after purchasing an additional 3,804 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Phathom Pharmaceuticals by 797.2% during the first quarter. GAMMA Investing LLC now owns 4,558 shares of the company’s stock worth $29,000 after purchasing an additional 4,050 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Phathom Pharmaceuticals by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company’s stock worth $834,000 after buying an additional 4,557 shares in the last quarter. 99.01% of the stock is currently owned by 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.