Stock Traders Purchase Large Volume of Call Options on Phathom Pharmaceuticals (NASDAQ:PHAT)
Posted On March 24, 2022
Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT – Get Rating) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 10,110 call options on the company. This is an increase of approximately 23,971% compared to the typical daily volume of 42 call options.
Shares of PHAT stock traded down $0.74 during trading on Wednesday, reaching $13.93. The company’s stock had a trading volume of 71,180 shares, compared to its average volume of 130,251. The firm’s fifty day moving average is $16.26. The company has a current ratio of 9.86, a quick ratio of 9.86 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $441.76 million, a P/E ratio of -3.58 and a beta of 1.06. Phathom Pharmaceuticals has a one year low of $11.33 and a one year high of $43.16.
Separately, Zacks Investment Research raised shares of Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, January 11th.
Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its position in Phathom Pharmaceuticals by 109.5% during the second quarter. Royal Bank of Canada now owns 1,387 shares of the company’s stock worth $47,000 after acquiring an additional 725 shares in the last quarter. Denali Advisors LLC acquired a new position in shares of Phathom Pharmaceuticals in the fourth quarter valued at $49,000. Advisor Group Holdings Inc. increased its holdings in shares of Phathom Pharmaceuticals by 69.7% in the third quarter. Advisor Group Holdings Inc. now owns 2,076 shares of the company’s stock valued at $67,000 after purchasing an additional 853 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Phathom Pharmaceuticals by 36.0% in the fourth quarter. Citigroup Inc. now owns 7,451 shares of the company’s stock valued at $147,000 after purchasing an additional 1,971 shares during the last quarter. Finally, Wells Fargo & Company MN acquired a new position in shares of Phathom Pharmaceuticals in the fourth quarter valued at $173,000.
Phathom Pharmaceuticals Company Profile (Get Rating)
Phathom Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada to vonoprazan, a potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.
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