Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Experience 8.9% Drop - Should Investors Be Concerned?

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) plunged 8.9% during trading on Friday. The stock hit a low of $16.79 before closing at $16.86, significantly lower than its previous close of $18.50. During the midday session, 717,235 shares exchanged hands, which marked a 13% decrease from the average daily trading volume of 821,795 shares.

Analyst Opinions on PHAT

Recent analyses from several brokerages have a mixed view on Phathom Pharmaceuticals. Needham & Company LLC maintained a "buy" rating and set a target price of $26.00 for the stocks as of September 13. Meanwhile, The Goldman Sachs Group raised their price target from $10.00 to $12.00 while assigning a "neutral" rating on August 9. In addition, HC Wainwright reaffirmed a "buy" rating, but set a higher target at $28.00 in their report released on August 12.

Explore Our In-Depth Research Analysis on Phathom Pharmaceuticals

Stock Performance Overview

Phathom Pharmaceuticals holds a market capitalization of approximately $1.00 billion, with a PE ratio standing at -3.29 and a beta of 0.72, indicating lower volatility than the market. The company’s 50-day simple moving average is $17.28, while the 200-day simple moving average is considerably lower at $13.24.

On August 8, Phathom Pharmaceuticals released its quarterly earnings data, posting a loss of ($1.35) earnings per share, which was slightly better than analysts' expectations of ($1.39) per share. The company recorded a revenue of $7.32 million, surpassing analysts' estimates of $5.65 million. Projections suggest that Phathom will report a total earnings loss of -$6.03 per share for the current fiscal year.

Institutional Investors' Activity

In recent months, a number of hedge funds and institutional investors have adjusted their positions in PHAT. Huntington National Bank increased its stake by 62.2% in the third quarter, now holding 1,471 shares valued at $27,000 after acquiring an additional 564 shares. Mirae Asset Global Investments expanded their holdings by 41.3%, bringing their total to 2,470 shares worth $43,000 after purchasing 722 additional shares. Likewise, US Bancorp DE upped its position by 28.6%, owning 5,248 shares now valued at $95,000. The Manufacturers Life Insurance Company raised its stake by 10.6%, owning 13,941 shares valued at $144,000. Additionally, Inspirion Wealth Advisors LLC boosted its holdings by 4.3% in Q2, now controlling 36,634 shares worth $377,000. Institutional investors collectively own approximately 99.01% of the company’s stock.

Overview of Phathom Pharmaceuticals

Phathom Pharmaceuticals, Inc. specializes in developing and commercializing innovative treatments aimed at gastrointestinal diseases. The company retains rights in the United States, Europe, and Canada to an experimental therapy known as a potassium-competitive acid blocker (P-CAB), which works by inhibiting acid secretion in the stomach.

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This report has been crafted using advanced technology and financial data to deliver timely updates to our readers.

Should You Invest $1,000 in Phathom Pharmaceuticals Currently?

Before making an investment decision regarding Phathom Pharmaceuticals, potential investors should seek advice. Numerous high-rated research analysts are pointing to stronger stock alternatives over Phathom Pharmaceuticals at this time. Currently labeled with a "Moderate Buy" rating among analysts, the stock appears less favorable compared to five other stocks that top analysts recommend.

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