Needham & Company LLC restated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT – Free Report) in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a $26.00 target price on the stock.
A number of other research analysts have also issued reports on PHAT. Stifel Nicolaus assumed coverage on shares of Phathom Pharmaceuticals in a report on Friday, May 3rd. They issued a buy rating and a $24.00 price objective for the company. HC Wainwright reiterated a buy rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Monday. Finally, The Goldman Sachs Group raised their price objective on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a neutral rating in a report on Friday, August 9th.
Read Our Latest Report on Phathom Pharmaceuticals
Phathom Pharmaceuticals Trading Up 2.2 %
Insider Buying and Selling at Phathom Pharmaceuticals
In other Phathom Pharmaceuticals news, insider Terrie Curran sold 33,848 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $396,698.56. Following the completion of the sale, the insider now owns 377,734 shares of the company’s stock, valued at approximately $4,427,042.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 33,848 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $396,698.56. Following the completion of the sale, the insider now owns 377,734 shares of the company’s stock, valued at approximately $4,427,042.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Azmi Nabulsi sold 10,901 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $127,759.72. Following the sale, the chief operating officer now directly owns 240,421 shares of the company’s stock, valued at approximately $2,817,734.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,074 shares of company stock valued at $575,147. 24.10% of the stock is currently owned by company insiders.
Institutional Trading of Phathom Pharmaceuticals
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHAT. Catalys Pacific LLC acquired a new stake in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $6,592,000. Jennison Associates LLC acquired a new stake in shares of Phathom Pharmaceuticals during the 1st quarter worth approximately $17,499,000. Avidity Partners Management LP grew its position in shares of Phathom Pharmaceuticals by 6.4% during the 4th quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock worth $15,718,000 after buying an additional 104,280 shares during the period. Medicxi Ventures Management Jersey Ltd grew its position in shares of Phathom Pharmaceuticals by 98.5% during the 1st quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock worth $79,274,000 after buying an additional 3,703,703 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Phathom Pharmaceuticals by 54.7% during the 4th quarter. Wellington Management Group LLP now owns 154,391 shares of the company’s stock worth $1,410,000 after buying an additional 54,581 shares during the period. 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.
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