Phathom Pharmaceuticals Inc’s recently made public that its President and Chief Executive Curran Terrie unloaded Company’s shares for reported $0.15 million on Mar 22 ’24. In the deal valued at $9.11 per share,16,851 shares were sold. As a result of this transaction, Curran Terrie now holds 410,784 shares worth roughly $4.56 million.
Then, TAKEDA PHARMACEUTICAL CO LTD sold 3,703,703 shares, generating $29,999,994 in total proceeds. Upon selling the shares at $8.10, the 10% Owner now owns 3,755,583 shares.
Before that, Henderson Molly sold 6,307 shares. Phathom Pharmaceuticals Inc shares valued at $48,900 were divested by the CFO and CBO at a price of $7.75 per share. As a result of the transaction, Henderson Molly now holds 98,698 shares, worth roughly $1.1 million.
Needham reiterated its Phathom Pharmaceuticals Inc [PHAT] rating to a Buy in a research note published on January 05, 2024; the price target was $26. A number of analysts have revised their coverage, including H.C. Wainwright’s analysts, who began to cover the stock in early August with a ‘”a Buy”‘ rating. Evercore ISI also remained covering PHAT and has increased its forecast on May 11, 2023 with a “an Outperform” recommendation from previously “an In-line” rating. Craig Hallum started covering the stock on March 13, 2023. It rated PHAT as “a Buy”.
Price Performance Review of PHAT
On Monday, Phathom Pharmaceuticals Inc [NASDAQ:PHAT] saw its stock jump 0.73% to $11.11. Over the last five days, the stock has gained 4.81%. Phathom Pharmaceuticals Inc shares have risen nearly 21.69% since the year began. Nevertheless, the stocks have risen 52.61% over the past one year. While a 52-week high of $17.02 was reached on 02/23/24, a 52-week low of $6.07 was recorded on 02/13/24. SMA at 50 days reached $8.92, while 200 days put it at $10.40. A total of 0.7 million shares were traded, compared to the trading of 0.45 million shares in the previous session.
Levels Of Support And Resistance For PHAT Stock
The 24-hour chart illustrates a support level at 10.89, which if violated will result in even more drops to 10.68. On the upside, there is a resistance level at 11.31. A further resistance level may holdings at 11.52. The Relative Strength Index (RSI) on the 14-day chart is 62.26, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.71, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 9.16%. Stochastics %K at 87.49% indicates the stock is a selling.
How much short interest is there in Phathom Pharmaceuticals Inc?
A steep rise in short interest was recorded in Phathom Pharmaceuticals Inc stocks on Mar 15, 2024, growing by 1.19 million shares to a total of 10.44 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 9.25 million shares. There was a rise of 11.4%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 25.63% of the overall stock float, the days-to-cover ratio (short ratio) rose to 8.96.
The most recent change occurred on October 21, 2022 when Jefferies began covering the stock and recommended ‘”a Buy”‘ rating along with a $16 price target.
