Phathom Pharmaceuticals (NASDAQ:PHAT) Trading Down 7.5% – Should You Sell?

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) dropped 7.5% on Monday . The stock traded as low as $15.86 and last traded at $15.96. Approximately 372,376 shares traded hands during trading, a decline of 54% from the average daily volume of 801,016 shares. The stock had previously closed at $17.25.

Analysts Set New Price Targets

PHAT has been the subject of a number of analyst reports. The Goldman Sachs Group increased their price objective on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. HC Wainwright reissued a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Monday, August 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, September 13th.

Phathom Pharmaceuticals Trading Down 6.7 %

The company’s fifty day simple moving average is $15.33 and its 200 day simple moving average is $12.22. The firm has a market capitalization of $959.40 million, a P/E ratio of -3.58 and a beta of 0.71.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.04. The company had revenue of $7.32 million during the quarter, compared to the consensus estimate of $5.65 million. On average, analysts predict that Phathom Pharmaceuticals, Inc. will post -6.03 earnings per share for the current fiscal year.

Insider Activity at Phathom Pharmaceuticals

In related news, insider Terrie Curran sold 33,848 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $396,698.56. Following the completion of the transaction, the insider now directly owns 377,734 shares in the company, valued at $4,427,042.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 33,848 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $11.72, for a total value of $396,698.56. Following the sale, the insider now directly owns 377,734 shares of the company’s stock, valued at approximately $4,427,042.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Molly Henderson sold 4,325 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $11.72, for a total value of $50,689.00. Following the completion of the sale, the chief financial officer now directly owns 99,447 shares in the company, valued at approximately $1,165,518.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,074 shares of company stock worth $575,147 over the last ninety days. 24.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 acquiring an additional 2,987 shares in the last quarter. Klingman & Associates LLC purchased a new position in shares of Phathom Pharmaceuticals in the first quarter worth $110,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Phathom Pharmaceuticals by 65.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 10,989 shares of the company’s stock valued at $117,000 after purchasing an additional 4,363 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Phathom Pharmaceuticals during the first quarter valued at $119,000. Finally, LVW Advisors LLC purchased a new stake in shares of Phathom Pharmaceuticals during the second quarter valued at $133,000. 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.