Creative Planning Has $278,000 Stock Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Creative Planning lowered its position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 16.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,951 shares of the company’s stock after selling 5,151 shares during the quarter. Creative Planning’s holdings in Phathom Pharmaceuticals were worth $278,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PHAT. Wellington Management Group LLP grew its position in Phathom Pharmaceuticals by 54.7% during the 4th quarter. Wellington Management Group LLP now owns 154,391 shares of the company’s stock worth $1,410,000 after purchasing an additional 54,581 shares in the last quarter. Medicxi Ventures Management Jersey Ltd raised its position in Phathom Pharmaceuticals by 98.5% during the first quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock valued at $79,274,000 after buying an additional 3,703,703 shares during the period. Klingman & Associates LLC purchased a new stake in Phathom Pharmaceuticals in the 1st quarter worth about $110,000. Jennison Associates LLC acquired a new stake in Phathom Pharmaceuticals during the 1st quarter worth about $17,499,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in Phathom Pharmaceuticals during the 1st quarter valued at about $119,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Analysts Set New Price Targets

PHAT has been the subject of a number of research analyst reports. HC Wainwright reissued a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Monday, August 12th. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, September 13th. Finally, The Goldman Sachs Group lifted their target price on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 9th.

Phathom Pharmaceuticals Stock Performance

NASDAQ:PHAT opened at $16.08 on Friday. The company has a market capitalization of $958.21 million, a P/E ratio of -3.13 and a beta of 0.71. The stock’s 50 day moving average price is $16.23 and its 200 day moving average price is $12.57. Phathom Pharmaceuticals, Inc. has a 52 week low of $6.07 and a 52 week high of $19.71.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its earnings results on Thursday, August 8th. The company reported ($1.35) EPS for the quarter, topping the consensus estimate of ($1.39) by $0.04. The business had revenue of $7.32 million during the quarter, compared to the consensus estimate of $5.65 million. As a group, sell-side analysts forecast that Phathom Pharmaceuticals, Inc. will post -6.03 earnings per share for the current fiscal year.

Phathom Pharmaceuticals Profile

Phathom Pharmaceuticals, Inc, biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada for an investigational potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.