Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Director Frank Karbe Buys 12,500 Shares

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Director Frank Karbe acquired 12,500 shares of Phathom Pharmaceuticals stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $7.93 per share, for a total transaction of $99,125.00. Following the completion of the transaction, the director now owns 57,000 shares in the company, valued at approximately $452,010. This trade represents a 28.09 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Phathom Pharmaceuticals Stock Performance

Shares of PHAT traded up $0.31 during mid-day trading on Monday, reaching $8.20. The company had a trading volume of 122,932 shares, compared to its average volume of 911,985. The firm has a 50-day moving average price of $12.90 and a 200 day moving average price of $13.18. Phathom Pharmaceuticals, Inc. has a 52 week low of $6.07 and a 52 week high of $19.71.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PHAT. Eagle Asset Management Inc. grew its stake in shares of Phathom Pharmaceuticals by 25.9% in the third quarter. Eagle Asset Management Inc. now owns 455,196 shares of the company’s stock worth $7,675,000 after acquiring an additional 93,733 shares during the last quarter. FMR LLC grew its position in Phathom Pharmaceuticals by 49,000.7% during the 3rd quarter. FMR LLC now owns 1,304,114 shares of the company’s stock valued at $23,578,000 after purchasing an additional 1,301,458 shares during the last quarter. Oracle Investment Management Inc. bought a new stake in Phathom Pharmaceuticals during the 2nd quarter valued at about $2,318,000. Point72 Asset Management L.P. purchased a new position in Phathom Pharmaceuticals in the third quarter worth about $7,952,000. Finally, Jennison Associates LLC lifted its stake in shares of Phathom Pharmaceuticals by 112.7% in the third quarter. Jennison Associates LLC now owns 5,866,389 shares of the company’s stock worth $106,064,000 after buying an additional 3,108,810 shares in the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PHAT. HC Wainwright reiterated a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Wednesday, December 11th.

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.