Phathom Pharmaceuticals (NASDAQ:PHAT) Trading Down 7.6% – What’s Next?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s stock price fell 7.6% on Monday . The stock traded as low as $14.02 and last traded at $13.88. 293,540 shares changed hands during trading, a decline of 82% from the average session volume of 1,598,576 shares. The stock had previously closed at $15.02.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PHAT shares. Wall Street Zen raised shares of Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Barclays initiated coverage on shares of Phathom Pharmaceuticals in a report on Monday, December 8th. They issued an “equal weight” rating and a $16.00 target price for the company. HC Wainwright upped their price target on shares of Phathom Pharmaceuticals from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday, October 31st. Guggenheim reissued a “buy” rating and issued a $20.00 price objective on shares of Phathom Pharmaceuticals in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Phathom Pharmaceuticals Trading Down 3.1%

The company has a market cap of $1.08 billion, a PE ratio of -3.96 and a beta of 0.48. The company’s 50 day moving average is $15.43 and its 200 day moving average is $12.57.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its quarterly earnings data on Thursday, October 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.15. The company had revenue of $49.50 million during the quarter, compared to analysts’ expectations of $47.03 million. Analysts expect that Phathom Pharmaceuticals, Inc. will post -4.78 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC lifted its holdings in shares of Phathom Pharmaceuticals by 125.8% in the 3rd quarter. Millennium Management LLC now owns 5,081,451 shares of the company’s stock worth $59,809,000 after buying an additional 2,830,954 shares during the period. Frazier Life Sciences Management L.P. raised its holdings in shares of Phathom Pharmaceuticals by 23.3% in the second quarter. Frazier Life Sciences Management L.P. now owns 12,466,489 shares of the company’s stock valued at $119,554,000 after acquiring an additional 2,357,210 shares in the last quarter. 683 Capital Management LLC lifted its stake in Phathom Pharmaceuticals by 45.7% in the second quarter. 683 Capital Management LLC now owns 2,105,000 shares of the company’s stock worth $20,187,000 after acquiring an additional 660,000 shares during the period. Moore Capital Management LP purchased a new stake in Phathom Pharmaceuticals in the second quarter worth about $5,754,000. Finally, Invesco Ltd. grew its holdings in Phathom Pharmaceuticals by 13.4% during the 2nd quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock worth $39,703,000 after acquiring an additional 489,260 shares in the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company’s core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom’s research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company’s lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.