The Goldman Sachs Group Lowers Phathom Pharmaceuticals (NASDAQ:PHAT) Price Target to $10.00

Phathom Pharmaceuticals (NASDAQ:PHAT) had its target price reduced by The Goldman Sachs Group from $12.00 to $10.00 in a research report report published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

PHAT has been the subject of a number of other reports. Guggenheim restated a “buy” rating on shares of Phathom Pharmaceuticals in a report on Wednesday, April 2nd. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, February 25th. Craig Hallum reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Wednesday, April 9th. Finally, HC Wainwright restated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $21.83.

Phathom Pharmaceuticals Stock Down 4.5 %

PHAT opened at $4.03 on Thursday. Phathom Pharmaceuticals has a 52 week low of $3.81 and a 52 week high of $19.71. The business has a fifty day simple moving average of $5.33 and a 200-day simple moving average of $8.76. The firm has a market cap of $280.64 million, a P/E ratio of -0.71 and a beta of 0.35.

Insider Buying and Selling at Phathom Pharmaceuticals

In related news, CFO Molly Henderson sold 6,583 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total transaction of $43,381.97. Following the completion of the transaction, the chief financial officer now owns 93,546 shares in the company, valued at approximately $616,468.14. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Azmi Nabulsi sold 7,886 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $51,968.74. Following the completion of the sale, the chief operating officer now owns 233,390 shares in the company, valued at approximately $1,538,040.10. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,256 shares of company stock valued at $238,014. Insiders own 24.10% of the company’s stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHAT. GAMMA Investing LLC lifted its position in shares of Phathom Pharmaceuticals by 797.2% during the 1st quarter. GAMMA Investing LLC now owns 4,558 shares of the company’s stock worth $29,000 after buying an additional 4,050 shares during the last quarter. Kera Capital Partners Inc. raised its stake in Phathom Pharmaceuticals by 11.2% during the 1st quarter. Kera Capital Partners Inc. now owns 29,849 shares of the company’s stock worth $187,000 after acquiring an additional 3,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Phathom Pharmaceuticals by 20.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,803 shares of the company’s stock valued at $957,000 after acquiring an additional 19,778 shares during the last quarter. Two Sigma Advisers LP acquired a new position in Phathom Pharmaceuticals in the fourth quarter valued at $1,086,000. Finally, Two Sigma Investments LP grew its holdings in shares of Phathom Pharmaceuticals by 215.4% during the fourth quarter. Two Sigma Investments LP now owns 485,790 shares of the company’s stock worth $3,945,000 after purchasing an additional 331,760 shares during the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

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.