Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Position Boosted by Rhumbline Advisers

Rhumbline Advisers raised its holdings in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 10.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,968 shares of the company’s stock after acquiring an additional 5,110 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of Phathom Pharmaceuticals worth $454,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Jennison Associates LLC grew its stake in Phathom Pharmaceuticals by 20.4% during the 4th quarter. Jennison Associates LLC now owns 7,062,507 shares of the company’s stock valued at $57,348,000 after acquiring an additional 1,196,118 shares in the last quarter. Kera Capital Partners Inc. purchased a new position in Phathom Pharmaceuticals during the 4th quarter valued at about $218,000. Barclays PLC grew its stake in Phathom Pharmaceuticals by 366.0% during the 3rd quarter. Barclays PLC now owns 57,807 shares of the company’s stock valued at $1,044,000 after acquiring an additional 45,402 shares in the last quarter. Geode Capital Management LLC grew its stake in Phathom Pharmaceuticals by 7.1% during the 3rd quarter. Geode Capital Management LLC now owns 862,918 shares of the company’s stock valued at $15,605,000 after acquiring an additional 56,871 shares in the last quarter. Finally, MML Investors Services LLC grew its stake in shares of Phathom Pharmaceuticals by 72.8% in the 3rd quarter. MML Investors Services LLC now owns 33,860 shares of the company’s stock valued at $612,000 after buying an additional 14,260 shares in the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Wall Street Analyst Weigh In

PHAT has been the subject of several analyst reports. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Thursday. Finally, HC Wainwright restated a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Friday. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Phathom Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $23.00.

Insider Buying and Selling

In other Phathom Pharmaceuticals news, COO Azmi Nabulsi sold 7,886 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $51,968.74. Following the completion of the sale, the chief operating officer now directly owns 233,390 shares of the company’s stock, valued at $1,538,040.10. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Molly Henderson sold 6,583 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $43,381.97. Following the completion of the sale, the chief financial officer now directly owns 93,546 shares of the company’s stock, valued at $616,468.14. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,987 shares of company stock worth $240,551 in the last ninety days. 24.10% of the stock is owned by insiders.

Phathom Pharmaceuticals Trading Down 14.2 %

PHAT stock opened at $5.06 on Friday. The firm has a market capitalization of $345.99 million, a PE ratio of -0.89 and a beta of 0.63. Phathom Pharmaceuticals, Inc. has a 1-year low of $5.02 and a 1-year high of $19.71. The business’s 50 day simple moving average is $6.35 and its 200 day simple moving average is $11.23.

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.