Oracle Investment Management Inc. Buys Shares of 225,000 Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Oracle Investment Management Inc. purchased a new position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 225,000 shares of the company’s stock, valued at approximately $2,318,000. Phathom Pharmaceuticals makes up 2.2% of Oracle Investment Management Inc.’s holdings, making the stock its 10th largest holding. Oracle Investment Management Inc. owned 0.38% of Phathom Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PHAT. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Phathom Pharmaceuticals during the fourth quarter worth about $137,000. Decheng Capital LLC acquired a new stake in Phathom Pharmaceuticals during the fourth quarter worth approximately $7,760,000. Catalys Pacific LLC acquired a new stake in Phathom Pharmaceuticals during the fourth quarter worth approximately $6,592,000. Avidity Partners Management LP grew its stake in Phathom Pharmaceuticals by 6.4% in the 4th quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock worth $15,718,000 after acquiring an additional 104,280 shares during the period. Finally, Octagon Capital Advisors LP acquired a new position in Phathom Pharmaceuticals in the 4th quarter valued at $456,000. 99.01% of the stock is owned by institutional investors and hedge funds.

Phathom Pharmaceuticals Trading Down 3.6 %

Shares of Phathom Pharmaceuticals stock opened at $17.76 on Tuesday. The business’s fifty day moving average price is $14.28 and its 200 day moving average price is $11.64. Phathom Pharmaceuticals, Inc. has a twelve month low of $6.07 and a twelve month high of $19.71. The stock has a market capitalization of $1.04 billion, a P/E ratio of -4.03 and a beta of 0.71.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its earnings results on Thursday, August 8th. The company reported ($1.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.04. The business had revenue of $7.32 million for the quarter, compared to analyst estimates of $5.65 million. As a group, sell-side analysts predict that Phathom Pharmaceuticals, Inc. will post -6.03 EPS for the current year.

Insider Transactions at Phathom Pharmaceuticals

In related news, insider Terrie Curran sold 33,848 shares of Phathom Pharmaceuticals stock in a transaction on Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $396,698.56. Following the transaction, the insider now owns 377,734 shares in the company, valued at approximately $4,427,042.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 33,848 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $11.72, for a total value of $396,698.56. Following the transaction, the insider now directly owns 377,734 shares of the company’s stock, valued at $4,427,042.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Azmi Nabulsi sold 10,901 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $11.72, for a total value of $127,759.72. Following the transaction, the chief operating officer now owns 240,421 shares in the company, valued at approximately $2,817,734.12. The disclosure for this sale can be found here. Insiders sold 49,074 shares of company stock valued at $575,147 over the last 90 days. Corporate insiders own 24.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PHAT. The Goldman Sachs Group raised their price objective on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Needham & Company LLC restated a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, September 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Monday, August 12th.

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.