Phathom Pharmaceuticals (NASDAQ:PHAT) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research note issued to investors on Friday morning, Marketbeat.com reports. The firm issued an overweight rating and a $23.00 target price on the stock.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, January 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.00.

Phathom Pharmaceuticals Stock Performance

Shares of PHAT stock opened at $5.77 on Friday. The company’s fifty day moving average price is $7.15 and its 200-day moving average price is $11.93. Phathom Pharmaceuticals has a 12 month low of $5.21 and a 12 month high of $19.71.

Insider Buying and Selling at Phathom Pharmaceuticals

In related news, Director Frank Karbe bought 12,500 shares of the stock in a transaction on Friday, December 13th. The shares were acquired at an average price of $7.93 per share, for a total transaction of $99,125.00. Following the purchase, the director now owns 57,000 shares of the company’s stock, valued at approximately $452,010. The trade was a 28.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Molly Henderson sold 6,583 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total transaction of $43,381.97. Following the transaction, the chief financial officer now owns 93,546 shares in the company, valued at $616,468.14. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,987 shares of company stock worth $240,551. Company insiders own 24.10% of the company’s stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in PHAT. The Manufacturers Life Insurance Company increased its position in shares of Phathom Pharmaceuticals by 10.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock valued at $144,000 after purchasing an additional 1,339 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Phathom Pharmaceuticals during the 3rd quarter valued at about $244,000. Creative Planning increased its position in shares of Phathom Pharmaceuticals by 25.7% during the 3rd quarter. Creative Planning now owns 33,884 shares of the company’s stock valued at $613,000 after purchasing an additional 6,933 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Phathom Pharmaceuticals by 41.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock valued at $43,000 after purchasing an additional 722 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Phathom Pharmaceuticals by 91.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,134 shares of the company’s stock valued at $237,000 after purchasing an additional 6,257 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Phathom Pharmaceuticals Company Profile

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.