Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price Down 3.5% – Should You Sell?

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) dropped 3.5% during trading on Friday . The company traded as low as $8.61 and last traded at $8.66. Approximately 163,920 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 911,880 shares. The stock had previously closed at $8.97.

Analyst Ratings Changes

PHAT has been the subject of a number of recent research reports. The Goldman Sachs Group increased their price objective on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, August 9th. HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Monday, August 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, September 13th.

Phathom Pharmaceuticals Trading Down 1.1 %

The stock’s fifty day moving average price is $14.87 and its 200-day moving average price is $13.28.

Institutional Trading of Phathom Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System purchased a new position in Phathom Pharmaceuticals in the 1st quarter valued at approximately $119,000. Vanguard Group Inc. boosted its position in Phathom Pharmaceuticals by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,979,113 shares of the company’s stock valued at $21,018,000 after buying an additional 22,684 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Phathom Pharmaceuticals by 12.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,573 shares of the company’s stock worth $208,000 after purchasing an additional 2,172 shares during the last quarter. Inspirion Wealth Advisors LLC lifted its position in shares of Phathom Pharmaceuticals by 4.3% during the 2nd quarter. Inspirion Wealth Advisors LLC now owns 36,634 shares of the company’s stock worth $377,000 after purchasing an additional 1,500 shares during the last quarter. Finally, LVW Advisors LLC purchased a new stake in shares of Phathom Pharmaceuticals during the 2nd quarter worth $133,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

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.