Virtu Financial LLC Acquires New Stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Virtu Financial LLC acquired a new position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 13,424 shares of the company’s stock, valued at approximately $109,000.

Several other hedge funds also recently made changes to their positions in PHAT. Teacher Retirement System of Texas acquired a new stake in Phathom Pharmaceuticals in the fourth quarter valued at $90,000. Commonwealth Equity Services LLC raised its holdings in Phathom Pharmaceuticals by 387.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 50,772 shares of the company’s stock valued at $412,000 after acquiring an additional 40,362 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth $3,701,000. Keybank National Association OH boosted its holdings in shares of Phathom Pharmaceuticals by 41.4% during the fourth quarter. Keybank National Association OH now owns 25,512 shares of the company’s stock worth $207,000 after purchasing an additional 7,469 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Phathom Pharmaceuticals by 20.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 353,038 shares of the company’s stock worth $2,867,000 after purchasing an additional 60,178 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Price Performance

Shares of Phathom Pharmaceuticals stock opened at $6.60 on Monday. Phathom Pharmaceuticals, Inc. has a 1-year low of $4.07 and a 1-year high of $19.71. The business has a 50-day moving average of $5.85 and a 200-day moving average of $10.09. The company has a market capitalization of $459.60 million, a PE ratio of -1.16 and a beta of 0.63.

Insider Transactions at Phathom Pharmaceuticals

In related 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 transaction of $51,968.74. Following the sale, the chief operating officer now directly owns 233,390 shares of the company’s stock, valued at approximately $1,538,040.10. This represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Terrie Curran sold 19,109 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $125,928.31. Following the sale, the insider now directly owns 360,465 shares in the company, valued at $2,375,464.35. This trade represents a 5.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,578 shares of company stock valued at $221,279. 24.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PHAT. Guggenheim set a $18.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Craig Hallum reiterated a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. The Goldman Sachs Group reduced their target price on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Thursday, March 6th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price objective 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently 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.