A company insider recently bought 20,000 shares of Phathom Pharmaceuticals Inc. [PHAT]. Should You Buy?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Phathom Pharmaceuticals Inc. shares valued at $163,288 were purchased by Nabulsi Azmi on May 16. At $8.16 per share, Nabulsi Azmi acquired 20,000 shares. The insider’s holdings grew to 785,700 shares worth approximately $7.87 million following the completion of this transaction.

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Also, Curran Terrie purchased 20,500 shares, netting a total of over 151,835 in proceeds. Following the buying of shares at $7.41 each, the insider now holds 64,595 shares.

Before that, Parikh Asit had added 12,500 shares to its account. In a trade valued at $100,000, the Director bought Phathom Pharmaceuticals Inc. shares for $8.00 each. Upon closing the transaction, the insider’s holdings increased to 12,500 shares, worth approximately $0.13 million.

As published in a research note from Evercore ISI on May 06, 2022, Phathom Pharmaceuticals Inc. [PHAT] has been rated down from an Outperform to an In-line. Analysts at Goldman upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in mid May. As of February 17, 2021, BMO Capital Markets has initiated its “an Outperform” rating for PHAT. Earlier on February 02, 2021, Guggenheim initiated its rating. Their recommendation was “a Buy” for PHAT stock.

Analyzing PHAT’s Price Performance

On Thursday, Phathom Pharmaceuticals Inc. [NASDAQ: PHAT] plunged -5.56% to $10.02. The stock’s lowest price that day was $9.81, but it reached a high of $10.72 in the same session. During the last five days, there has been a surge of approximately 0.50%. Over the course of the year, Phathom Pharmaceuticals Inc. shares have dropped approximately -49.06%. Shares of the company reached a 52-week high of $20.30 on 01/04/22 and a 52-week low of $6.09 on 06/16/22. A 50-day SMA is recorded $9.41, while a 200-day SMA reached $12.66. Nevertheless, trading volume fell to 2.61 million shares from 0.17 million shares the previous day.

Support And Resistance Levels for Phathom Pharmaceuticals Inc. (PHAT)

According to the 24-hour chart, there is a support level at 9.65, which, if violated, would cause prices to drop to 9.27. In the upper region, resistance lies at 10.56. The next price resistance is at 11.09. RSI (Relative Strength Index) is 53.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.78, which suggests the price will decrease in the coming days. Percent R is at 40.17%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Phathom Pharmaceuticals Inc. subject to short interest?

Stocks of Phathom Pharmaceuticals Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by 10000.0 shares to 3.23 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.24 million shares. A decline of -0.31% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 14.15 of the overall float, the days-to-cover ratio (short ratio) decline to 14.15.

Which companies own the most shares of Phathom Pharmaceuticals Inc. (PHAT)?

According to Invesco Advisers, Inc. filings, the company currently owns 2,033,918 shares, which is about 5.19% of the total PHAT shares outstanding. The investor’s shares have plunged by -2,137 from its previous 13-F filing of 2036055.0 shares. With the completion of the sale transaction, Avidity Partners Management LP’s stake is now worth $16,395,092. The Vanguard Group, Inc. reduced a -3.26% interest valued at $15.69 million while Ensign Peak Advisors, Inc. purchased a 570,729 stake. A total of 1,085,000 shares of Phathom Pharmaceuticals Inc. were bought by 683 Capital Management LLC during the quarter, and 167,843 were bought by BlackRock Fund Advisors. In its current portfolio, Janus Henderson Investors US LLC holds 1,089,448 shares valued at $9.3 million.

In terms of Phathom Pharmaceuticals Inc. share price expectations, FactSet research, analysts set an average price target of $33.50 in the next 12 months, up nearly 277.0% from the previous closing price of $10.61. Analysts anticipate Phathom Pharmaceuticals Inc. stock to reach $45.00 by 2022, with the lowest price target being $9.00. In spite of this, 4 analysts ranked Phathom Pharmaceuticals Inc. stock as an Overweight at the end of 2022. On June 26, 2020, Goldman assigned a price target of “a Sell” to the stock and downgraded coverage with a $34.


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