Raymond James Financial Inc. Takes Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Raymond James Financial Inc. acquired a new position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 455,837 shares of the company’s stock, valued at approximately $3,701,000. Raymond James Financial Inc. owned 0.67% of Phathom Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PHAT. Versor Investments LP bought a new stake in shares of Phathom Pharmaceuticals during the fourth quarter worth $101,000. Los Angeles Capital Management LLC acquired a new position in Phathom Pharmaceuticals in the 4th quarter worth $171,000. Quest Partners LLC bought a new position in Phathom Pharmaceuticals during the 3rd quarter worth about $197,000. Intech Investment Management LLC acquired a new stake in shares of Phathom Pharmaceuticals in the 3rd quarter valued at about $207,000. Finally, Keybank National Association OH lifted its holdings in shares of Phathom Pharmaceuticals by 41.4% in the fourth quarter. Keybank National Association OH now owns 25,512 shares of the company’s stock valued at $207,000 after purchasing an additional 7,469 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

Insider Buying and Selling at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, COO Azmi Nabulsi sold 7,886 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 233,390 shares in the company, valued at $1,538,040.10. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Molly Henderson sold 6,583 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 $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 approximately $616,468.14. The trade was 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 over the last quarter. 24.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Guggenheim set a $18.00 price objective on Phathom Pharmaceuticals in a report on Friday, March 7th. Craig Hallum reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. The Goldman Sachs Group lowered their price objective on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $22.17.

Phathom Pharmaceuticals Trading Up 4.2 %

NASDAQ PHAT opened at $6.69 on Friday. The company has a market cap of $465.87 million, a PE ratio of -1.18 and a beta of 0.63. Phathom Pharmaceuticals, Inc. has a 12 month low of $4.07 and a 12 month high of $19.71. The stock has a 50 day moving average of $5.86 and a 200-day moving average of $10.28.

About Phathom Pharmaceuticals

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.