US Bancorp DE Boosts Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

US Bancorp DE grew its stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 28.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,248 shares of the company’s stock after buying an additional 1,166 shares during the period. US Bancorp DE’s holdings in Phathom Pharmaceuticals were worth $95,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Phathom Pharmaceuticals by 41.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock worth $43,000 after acquiring an additional 722 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Phathom Pharmaceuticals by 42.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock worth $104,000 after buying an additional 2,987 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Phathom Pharmaceuticals during the first quarter valued at $119,000. LVW Advisors LLC bought a new stake in Phathom Pharmaceuticals during the second quarter valued at $133,000. Finally, The Manufacturers Life Insurance Company grew its position in Phathom Pharmaceuticals by 10.6% during the second quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock worth $144,000 after buying an additional 1,339 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Trading Down 3.4 %

PHAT opened at $8.78 on Friday. The stock has a market capitalization of $600.38 million, a P/E ratio of -1.54 and a beta of 0.72. The stock has a 50-day moving average price of $16.58 and a 200-day moving average price of $13.36. Phathom Pharmaceuticals, Inc. has a 12-month low of $6.07 and a 12-month high of $19.71.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PHAT. HC Wainwright reiterated a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Monday, August 12th. The Goldman Sachs Group lifted their target price on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, September 13th.

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.