The Manufacturers Life Insurance Company Boosts Holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

The Manufacturers Life Insurance Company lifted its position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 10.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,941 shares of the company’s stock after buying an additional 1,339 shares during the period. The Manufacturers Life Insurance Company’s holdings in Phathom Pharmaceuticals were worth $144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Phathom Pharmaceuticals by 54.7% during the fourth quarter. Wellington Management Group LLP now owns 154,391 shares of the company’s stock valued at $1,410,000 after acquiring an additional 54,581 shares during the last quarter. Medicxi Ventures Management Jersey Ltd increased its holdings in Phathom Pharmaceuticals by 98.5% in the 1st quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock valued at $79,274,000 after purchasing an additional 3,703,703 shares during the last quarter. Klingman & Associates LLC purchased a new stake in Phathom Pharmaceuticals in the first quarter valued at approximately $110,000. Jennison Associates LLC acquired a new position in Phathom Pharmaceuticals during the first quarter worth $17,499,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Phathom Pharmaceuticals during the first quarter worth $119,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Phathom Pharmaceuticals Trading Down 1.0 %

Shares of PHAT opened at $16.08 on Friday. Phathom Pharmaceuticals, Inc. has a 12-month low of $6.07 and a 12-month high of $19.71. The stock has a market cap of $958.21 million, a P/E ratio of -3.13 and a beta of 0.71. The company has a 50-day moving average of $16.23 and a two-hundred day moving average of $12.59.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, September 13th. The Goldman Sachs Group lifted their target price on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Finally, HC Wainwright reissued a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report 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.