Phathom Pharmaceuticals (NASDAQ:PHAT) Hits New 12-Month Low – Here’s Why
by Jessica Moore · The Cerbat GemPhathom Pharmaceuticals, Inc. (NASDAQ:PHAT – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $8.21 and last traded at $8.1830, with a volume of 149759 shares. The stock had previously closed at $8.37.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on PHAT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, July 31st. Leerink Partners assumed coverage on Phathom Pharmaceuticals in a report on Wednesday. They issued a “market perform” rating and a $10.00 price objective for the company. Needham & Company LLC dropped their target price on shares of Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Barclays cut their target price on shares of Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.25.
Check Out Our Latest Analysis on Phathom Pharmaceuticals
Phathom Pharmaceuticals Stock Down 1.8%
The firm has a market capitalization of $665.08 million, a PE ratio of -6.46 and a beta of 0.51. The company’s 50-day simple moving average is $9.91 and its 200 day simple moving average is $10.79.
Hedge Funds Weigh In On Phathom Pharmaceuticals
Several institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of Phathom Pharmaceuticals by 508.2% in the 1st quarter. AQR Capital Management LLC now owns 107,399 shares of the company’s stock worth $673,000 after purchasing an additional 89,741 shares in the last quarter. JPMorgan Chase & Co. increased its position in Phathom Pharmaceuticals by 0.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company’s stock valued at $1,328,000 after buying an additional 1,123 shares in the last quarter. Rhumbline Advisers increased its position in Phathom Pharmaceuticals by 13.8% during the 2nd quarter. Rhumbline Advisers now owns 64,557 shares of the company’s stock valued at $619,000 after buying an additional 7,818 shares in the last quarter. Invesco Ltd. raised its stake in Phathom Pharmaceuticals by 13.4% in the second quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock valued at $39,703,000 after buying an additional 489,260 shares during the last quarter. Finally, Nebula Research & Development LLC raised its stake in Phathom Pharmaceuticals by 31.6% in the second quarter. Nebula Research & Development LLC now owns 37,937 shares of the company’s stock valued at $364,000 after buying an additional 9,116 shares during the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.
Phathom Pharmaceuticals Company Profile
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.