Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Short Interest Update

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 14,660,000 shares, a decrease of 16.0% from the October 31st total of 17,450,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is currently 10.9 days.

Phathom Pharmaceuticals Trading Down 1.1 %

PHAT opened at $8.87 on Friday. The stock has a market capitalization of $606.53 million, a P/E ratio of -1.56 and a beta of 0.72. Phathom Pharmaceuticals has a 12 month low of $6.07 and a 12 month high of $19.71. The firm’s fifty day simple moving average is $14.68 and its 200 day simple moving average is $13.27.

Institutional Trading of Phathom Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of PHAT. Huntington National Bank boosted its position in shares of Phathom Pharmaceuticals by 62.2% during the third quarter. Huntington National Bank now owns 1,471 shares of the company’s stock worth $27,000 after buying an additional 564 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 worth $43,000 after acquiring an additional 722 shares during the last quarter. US Bancorp DE boosted its position in Phathom Pharmaceuticals by 28.6% during the 3rd quarter. US Bancorp DE now owns 5,248 shares of the company’s stock worth $95,000 after acquiring an additional 1,166 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Phathom Pharmaceuticals by 42.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock worth $104,000 after acquiring an additional 2,987 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Phathom Pharmaceuticals in the first quarter valued at approximately $119,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

Wall Street Analysts Forecast Growth

PHAT has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a report on Friday, September 13th. The Goldman Sachs Group raised their price target on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Monday, August 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.