Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Rating Upgraded by Cantor Fitzgerald

Phathom Pharmaceuticals (NASDAQ:PHAT) was upgraded by investment analysts at Cantor Fitzgerald to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

PHAT has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $23.00.

Phathom Pharmaceuticals Stock Performance

NASDAQ:PHAT opened at $5.58 on Tuesday. The business has a 50 day moving average price of $6.70 and a 200-day moving average price of $11.61. Phathom Pharmaceuticals has a fifty-two week low of $5.21 and a fifty-two week high of $19.71. The firm has a market cap of $381.54 million, a PE ratio of -0.98 and a beta of 0.54.

Insider Buying and Selling at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,583 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $43,381.97. Following the completion of the transaction, the chief financial officer now owns 93,546 shares of the company’s stock, valued at approximately $616,468.14. This trade represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Terrie Curran sold 19,109 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $125,928.31. Following the transaction, the insider now directly owns 360,465 shares of the company’s stock, valued at $2,375,464.35. This represents a 5.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,987 shares of company stock valued at $240,551. 24.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Creative Planning grew its stake in shares of Phathom Pharmaceuticals by 25.7% during the 3rd quarter. Creative Planning now owns 33,884 shares of the company’s stock valued at $613,000 after purchasing an additional 6,933 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Phathom Pharmaceuticals by 41.3% during the 3rd 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 in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Phathom Pharmaceuticals by 91.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,134 shares of the company’s stock valued at $237,000 after buying an additional 6,257 shares in the last quarter. US Bancorp DE lifted its position in shares of Phathom Pharmaceuticals by 28.6% during the 3rd 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 in the last quarter. Finally, Chartwell Investment Partners LLC purchased a new position in shares of Phathom Pharmaceuticals during the 3rd quarter valued at about $396,000. 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.