Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Phathom Pharmaceuticals Inc shares valued at $153,513 were sold by Curran Terrie on Mar 22 ’24. At $9.11 per share, Curran Terrie sold 16,851 shares. The insider’s holdings dropped to 410,784 shares worth approximately $4.54 million following the completion of this transaction.
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Also, TAKEDA PHARMACEUTICAL CO LTD sold 3,703,703 shares, netting a total of over 29,999,994 in proceeds. Following the sale of shares at $8.10 each, the insider now holds 3,755,583 shares.
Before that, Henderson Molly had sold 6,307 shares from its account. In a trade valued at $48,900, the CFO and CBO traded Phathom Pharmaceuticals Inc shares for $7.75 each. Upon closing the transaction, the insider’s holdings decreased to 6,307 shares, worth approximately $1.09 million.
As published in a research note from Needham on January 05, 2024, Phathom Pharmaceuticals Inc [PHAT] has been retained to a Buy and the price target has been revised to $26. Analysts at H.C. Wainwright started covering the stock with ‘”a Buy”‘ outlook in a report released in early August. As of May 11, 2023, Evercore ISI has increased its “an In-line” rating to a “an Outperform” for PHAT. Earlier on March 13, 2023, Craig Hallum initiated its rating. Their recommendation was “a Buy” for PHAT stock.
Analyzing PHAT Stock Performance
During the last five days, there has been a surge of approximately 21.16%. Over the course of the year, Phathom Pharmaceuticals Inc shares have jumped approximately 21.03%. Shares of the company reached a 52-week high of $11.43 on 02/23/24 and a 52-week low of $6.07 on 02/13/24. A 50-day SMA is recorded $8.47, while a 200-day SMA reached $10.48. Nevertheless, trading volume fell to 0.75 million shares from 1.17 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 10.46, which, if violated, would cause prices to drop to 9.87. In the upper region, resistance lies at 11.39. The next price resistance is at 11.73. RSI (Relative Strength Index) is 65.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.54, which suggests the price will increase in the coming days. Percent R is at 9.23%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Phathom Pharmaceuticals Inc subject to short interest?
Stocks of Phathom Pharmaceuticals Inc saw a sharp rise in short interest on Feb 29, 2024 jumping by 40000.0 shares to 8.67 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 8.63 million shares. A jump of 0.46% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.21 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.21.
