Insider Selling: Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) CFO Sells 1,291 Shares of Stock

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) CFO Molly Henderson sold 1,291 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $8.00, for a total transaction of $10,328.00. Following the sale, the chief financial officer now directly owns 98,156 shares of the company’s stock, valued at $785,248. The trade was a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Phathom Pharmaceuticals Stock Performance

PHAT stock traded down $0.37 during midday trading on Friday, reaching $7.45. The stock had a trading volume of 2,475,975 shares, compared to its average volume of 922,597. The firm has a fifty day simple moving average of $12.27 and a two-hundred day simple moving average of $13.09. Phathom Pharmaceuticals, Inc. has a 52-week low of $6.07 and a 52-week high of $19.71. The stock has a market cap of $509.41 million, a PE ratio of -1.31 and a beta of 0.56.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Jennison Associates LLC lifted its holdings in Phathom Pharmaceuticals by 112.7% in the third quarter. Jennison Associates LLC now owns 5,866,389 shares of the company’s stock valued at $106,064,000 after acquiring an additional 3,108,810 shares during the period. FMR LLC boosted its holdings in Phathom Pharmaceuticals by 49,000.7% during the third quarter. FMR LLC now owns 1,304,114 shares of the company’s stock worth $23,578,000 after buying an additional 1,301,458 shares in the last quarter. Checkpoint Capital L.P. grew its position in Phathom Pharmaceuticals by 71.9% during the third quarter. Checkpoint Capital L.P. now owns 1,504,307 shares of the company’s stock valued at $27,198,000 after buying an additional 629,307 shares during the period. Portolan Capital Management LLC increased its holdings in Phathom Pharmaceuticals by 50.4% in the third quarter. Portolan Capital Management LLC now owns 1,699,918 shares of the company’s stock valued at $30,735,000 after buying an additional 569,829 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Phathom Pharmaceuticals in the third quarter worth about $7,952,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

Analyst Upgrades and Downgrades

PHAT has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Wednesday, December 11th. HC Wainwright restated a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th.

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.