Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price Up 11.4%

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) shares rose 11.4% on Thursday . The stock traded as high as $11.70 and last traded at $11.64. Approximately 342,657 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 718,211 shares. The stock had previously closed at $10.45.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. HC Wainwright reissued a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, May 10th. Stifel Nicolaus assumed coverage on shares of Phathom Pharmaceuticals in a research report on Friday, May 3rd. They set a “buy” rating and a $24.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a research report on Monday.

Phathom Pharmaceuticals Stock Performance

The firm has a market cap of $662.62 million, a price-to-earnings ratio of -2.54 and a beta of 0.68. The stock’s 50 day simple moving average is $10.51 and its 200-day simple moving average is $9.47.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($1.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.01. The company had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.76 million. On average, analysts expect that Phathom Pharmaceuticals, Inc. will post -5.57 EPS for the current fiscal year.

Institutional Trading of Phathom Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its stake in shares of Phathom Pharmaceuticals by 355.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock worth $60,000 after acquiring an additional 5,171 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Phathom Pharmaceuticals in the third quarter worth $92,000. DAVENPORT & Co LLC purchased a new stake in Phathom Pharmaceuticals during the fourth quarter worth $91,000. Klingman & Associates LLC purchased a new stake in Phathom Pharmaceuticals during the first quarter worth $110,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Phathom Pharmaceuticals during the first quarter worth $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.