Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) President and Chief Executive Terrie Curran has sold a total of 16,851 shares of the company's common stock, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on March 22, 2024, resulted in proceeds exceeding $153,000 for Curran, with the shares being sold at a weighted average price of $9.11.
The sale was executed in multiple transactions with prices ranging from $9.11 to $9.28 per share. This level of detail indicates the CEO's trades took place at various price points within the stated range, providing a fuller picture of the market activity associated with the sale.
Following the transaction, Curran's remaining direct holdings in Phathom Pharmaceuticals amount to 410,784 shares. This figure includes 1,604 shares that were acquired under the company's employee stock purchase plan earlier in January 2024.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. The sale by Curran may attract attention from the investment community as it represents a significant change in her investment position in the company.
Phathom Pharmaceuticals, headquartered in Florham Park, New Jersey, specializes in pharmaceutical preparations, and as of the date of the report, the company's business and financial performance continue to be areas of interest for stakeholders and market watchers alike.
The SEC filing was signed by Molly Henderson, Attorney-in-Fact for Terrie Curran, on March 26, 2024. For those interested in the specifics of the transactions, the filing includes a commitment by Curran to provide full information regarding the number of shares sold at each separate price within the range upon request.
InvestingPro Insights
Amid the recent insider transaction by Phathom Pharmaceuticals' CEO Terrie Curran, market participants may find additional context in the company's financial health and stock performance. According to InvestingPro data, Phathom Pharmaceuticals has a market capitalization of approximately $601.15 million. The company's stock has had a significant return over the last week, with a 21.23% price total return, which may have provided an opportune moment for the CEO's sale.
InvestingPro Tips suggest a mixed outlook for the company. Analysts do not anticipate Phathom Pharmaceuticals will be profitable this year, and the company is quickly burning through cash. However, on the positive side, the company's liquid assets exceed short-term obligations, providing some cushion for its financial operations. With no dividend payouts to shareholders, reinvestment in the company or its products could be a focus for the near future.
Investors considering Phathom Pharmaceuticals should note that the company trades at a high revenue valuation multiple, with a recent price of $10.45 per share, and is not profitable over the last twelve months. For those looking to delve deeper into Phathom Pharmaceuticals' financials and future prospects, there are additional InvestingPro Tips available, which can be accessed with a subscription. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and discover the full range of insights and analysis that could guide investment decisions.
It's worth noting that the next earnings date for Phathom Pharmaceuticals is set for May 7, 2024, which will provide further clarity on the company's performance and could impact the stock's trajectory. With the current fair value estimated by analysts at $23 USD, compared to InvestingPro's fair value of $9.1 USD, the upcoming earnings report will be a critical event for investors to watch.
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