Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price Down 6.2% – Time to Sell?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s stock price was down 6.2% during trading on Thursday . The stock traded as low as $9.15 and last traded at $9.15. Approximately 83,032 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 892,701 shares. The stock had previously closed at $9.75.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a report on Friday, September 13th. HC Wainwright restated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Monday, August 12th. Finally, The Goldman Sachs Group increased their price objective on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th.

Phathom Pharmaceuticals Trading Down 3.4 %

The stock’s 50-day simple moving average is $16.58 and its 200-day simple moving average is $13.33. The stock has a market cap of $600.38 million, a price-to-earnings ratio of -1.54 and a beta of 0.72.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank lifted its holdings in shares of Phathom Pharmaceuticals by 62.2% during the 3rd quarter. Huntington National Bank now owns 1,471 shares of the company’s stock worth $27,000 after acquiring an additional 564 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in 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 purchasing an additional 722 shares in the last quarter. US Bancorp DE lifted its stake in Phathom Pharmaceuticals by 28.6% during the third quarter. US Bancorp DE now owns 5,248 shares of the company’s stock worth $95,000 after purchasing an additional 1,166 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Phathom Pharmaceuticals by 42.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock worth $104,000 after buying an additional 2,987 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in Phathom Pharmaceuticals during the first quarter worth about $119,000. Institutional investors and hedge funds 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.