Phathom Pharmaceuticals (NASDAQ:PHAT) Trading Down 2.6% - Here's Why

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report)'s share price fell 2.6% during trading on Friday . The stock traded as low as $12.56 and last traded at $12.96. 778,019 shares were traded during mid-day trading, a decline of 44% from the average session volume of 1,396,707 shares. The stock had previously closed at $13.31.Analysts Set New Price TargetsSeveral brokerages have recently commented on PHAT. Wall Street Zen raised Phathom Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.50.View Our Latest Stock Analysis on Phathom PharmaceuticalsPhathom Pharmaceuticals Stock PerformanceThe company has a market cap of $919.38 million, a price-to-earnings ratio of -2.74 and a beta of 0.43. The business has a 50-day simple moving average of $11.70 and a 200-day simple moving average of $8.31. Institutional Investors Weigh In On Phathom PharmaceuticalsHedge funds have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. acquired a new stake in Phathom Pharmaceuticals in the 1st quarter valued at about $3,738,000. GAMMA Investing LLC raised its position in Phathom Pharmaceuticals by 797.2% in the 1st quarter. GAMMA Investing LLC now owns 4,558 shares of the company's stock valued at $29,000 after purchasing an additional 4,050 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Phathom Pharmaceuticals in the 1st quarter valued at about $262,000. US Bancorp DE increased its holdings in shares of Phathom Pharmaceuticals by 248.1% in the 1st quarter. US Bancorp DE now owns 23,763 shares of the company's stock valued at $149,000 after acquiring an additional 16,937 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Phathom Pharmaceuticals by 47.6% in the 1st quarter. Wellington Management Group LLP now owns 200,690 shares of the company's stock valued at $1,258,000 after acquiring an additional 64,695 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company's stock. About Phathom Pharmaceuticals (Get Free Report)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.See AlsoFive stocks we like better than Phathom Pharmaceuticals3 Warren Buffett Stocks to Buy NowThis AI Chip Giant Could Be the Market’s Next Big WinnerWhat Are the U.K. Market Holidays? How to Invest and TradeBroadcom Inks OpenAI Deal: Why It's A Huge Win for AVGO StockAre Penny Stocks a Good Fit for Your Portfolio?Institutions Are Fueling CrowdStrike’s Next Leg HigherThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Phathom Pharmaceuticals Right Now?Before you consider Phathom Pharmaceuticals, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Phathom Pharmaceuticals wasn't on the list.While Phathom Pharmaceuticals currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here