Phathom Pharmaceuticals (NASDAQ:PHAT) Sets New 1-Year Low – Here’s Why

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s stock price reached a new 52-week low during mid-day trading on Friday. The stock traded as low as $6.84 and last traded at $6.8860, with a volume of 428021 shares. The stock had previously closed at $7.08.

Wall Street Analyst Weigh In

PHAT has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, July 31st. Needham & Company LLC cut their price target on shares of Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Friday, July 17th. Craig Hallum reissued a “buy” rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, July 31st. Finally, Guggenheim lowered their target price on shares of Phathom Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.25.

Phathom Pharmaceuticals Price Performance

The company has a market capitalization of $563.47 million, a PE ratio of -5.43 and a beta of 0.50. The stock has a 50-day simple moving average of $8.77 and a 200 day simple moving average of $10.39.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in shares of Phathom Pharmaceuticals by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 124,018 shares of the company’s stock valued at $1,378,000 after acquiring an additional 1,051 shares in the last quarter. Kera Capital Partners Inc. increased its position in Phathom Pharmaceuticals by 10.6% during the 1st quarter. Kera Capital Partners Inc. now owns 26,826 shares of the company’s stock worth $298,000 after purchasing an additional 2,571 shares in the last quarter. Summit Securities Group LLC acquired a new position in Phathom Pharmaceuticals in the 1st quarter valued at about $34,000. State of Wyoming acquired a new position in Phathom Pharmaceuticals in the 1st quarter valued at about $55,000. Finally, Swiss National Bank lifted its holdings in Phathom Pharmaceuticals by 10.2% in the 1st quarter. Swiss National Bank now owns 92,600 shares of the company’s stock valued at $1,029,000 after purchasing an additional 8,600 shares in the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for gastrointestinal diseases. The company’s primary product is Voquezna (vonoprazan), a potassium-competitive acid blocker designed to suppress gastric acid production through a mechanism distinct from traditional proton pump inhibitors.

In the United States, Voquezna is approved for use in combination regimens to eradicate Helicobacter pylori (H. pylori) infection in adults.