Bank of New York Mellon Corp Purchases 4,557 Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Bank of New York Mellon Corp increased its holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,748 shares of the company’s stock after acquiring an additional 4,557 shares during the period. Bank of New York Mellon Corp owned about 0.15% of Phathom Pharmaceuticals worth $834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quest Partners LLC bought a new stake in Phathom Pharmaceuticals in the third quarter worth about $197,000. Intech Investment Management LLC purchased a new position in Phathom Pharmaceuticals in the third quarter valued at approximately $207,000. Kera Capital Partners Inc. bought a new position in Phathom Pharmaceuticals during the fourth quarter valued at $218,000. Rhumbline Advisers raised its stake in shares of Phathom Pharmaceuticals by 10.0% in the fourth quarter. Rhumbline Advisers now owns 55,968 shares of the company’s stock valued at $454,000 after buying an additional 5,110 shares during the period. Finally, Summit Financial Wealth Advisors LLC purchased a new position in shares of Phathom Pharmaceuticals during the 3rd quarter valued at $525,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Insider Activity

In related news, COO Azmi Nabulsi sold 7,886 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $51,968.74. Following the transaction, the chief operating officer now owns 233,390 shares of the company’s stock, valued at approximately $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 can be accessed 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 transaction, the chief financial officer now directly owns 93,546 shares in the company, valued at approximately $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 33,578 shares of company stock worth $221,279 in the last quarter. 24.10% of the stock is owned by company insiders.

Phathom Pharmaceuticals Trading Down 2.4 %

Phathom Pharmaceuticals stock opened at $6.39 on Wednesday. The firm has a 50-day moving average of $5.88 and a 200-day moving average of $10.33. The firm has a market cap of $444.98 million, a P/E ratio of -1.12 and a beta of 0.63. Phathom Pharmaceuticals, Inc. has a 1-year low of $4.07 and a 1-year high of $19.71.

Analyst Ratings Changes

A number of brokerages recently issued reports on PHAT. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Thursday, March 6th. The Goldman Sachs Group lowered their price target on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, March 10th. Craig Hallum reiterated a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Finally, Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $22.17.

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.