Charles Schwab Investment Management Inc. Purchases 6,990 Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Charles Schwab Investment Management Inc. lifted its position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 292,860 shares of the company’s stock after purchasing an additional 6,990 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.49% of Phathom Pharmaceuticals worth $5,295,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in Phathom Pharmaceuticals during the third quarter worth approximately $207,000. Jennison Associates LLC grew its stake in shares of Phathom Pharmaceuticals by 112.7% during the third quarter. Jennison Associates LLC now owns 5,866,389 shares of the company’s stock valued at $106,064,000 after buying an additional 3,108,810 shares during the last quarter. Quest Partners LLC bought a new position in shares of Phathom Pharmaceuticals during the third quarter valued at approximately $197,000. Huntington National Bank grew its stake in shares of Phathom Pharmaceuticals by 62.2% during the third quarter. Huntington National Bank now owns 1,471 shares of the company’s stock valued at $27,000 after buying an additional 564 shares during the last quarter. Finally, Chartwell Investment Partners LLC bought a new position in shares of Phathom Pharmaceuticals during the third quarter valued at approximately $396,000. 99.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PHAT shares. HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Thursday. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Wednesday.

Phathom Pharmaceuticals Stock Performance

Shares of PHAT opened at $7.99 on Friday. The business’s 50-day moving average is $13.29 and its two-hundred day moving average is $13.19. The company has a market capitalization of $545.99 million, a P/E ratio of -1.40 and a beta of 0.56. Phathom Pharmaceuticals, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $19.71.

Phathom Pharmaceuticals Company 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.