Phathom Pharmaceuticals, Inc. $PHAT Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 5.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,069,927 shares of the company’s stock after acquiring an additional 53,504 shares during the period. Geode Capital Management LLC’s holdings in Phathom Pharmaceuticals were worth $10,263,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PHAT. Jacobs Levy Equity Management Inc. purchased a new stake in Phathom Pharmaceuticals during the 1st quarter worth approximately $3,738,000. 683 Capital Management LLC lifted its stake in shares of Phathom Pharmaceuticals by 41.0% during the first quarter. 683 Capital Management LLC now owns 1,445,000 shares of the company’s stock worth $9,060,000 after buying an additional 420,000 shares during the period. Propel Bio Management LLC grew its holdings in shares of Phathom Pharmaceuticals by 14.6% during the first quarter. Propel Bio Management LLC now owns 1,134,927 shares of the company’s stock valued at $7,116,000 after buying an additional 145,000 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Phathom Pharmaceuticals during the first quarter valued at $637,000. Finally, XTX Topco Ltd acquired a new position in shares of Phathom Pharmaceuticals in the 1st quarter valued at $565,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, October 8th. HC Wainwright raised their price objective on Phathom Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Guggenheim reiterated a “buy” rating and issued a $20.00 target price on shares of Phathom Pharmaceuticals in a research report on Thursday, October 30th. Wall Street Zen raised shares of Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Craig Hallum restated a “buy” rating and set a $22.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.67.

Phathom Pharmaceuticals Price Performance

NASDAQ:PHAT opened at $14.67 on Thursday. The company has a 50 day moving average price of $13.47 and a 200-day moving average price of $10.74. Phathom Pharmaceuticals, Inc. has a 1-year low of $2.21 and a 1-year high of $16.26. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -3.84 and a beta of 0.43.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its quarterly earnings results on Thursday, October 30th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.15. The firm had revenue of $49.50 million for the quarter, compared to analyst estimates of $47.03 million. On average, sell-side analysts anticipate that Phathom Pharmaceuticals, Inc. will post -4.78 earnings per share for the current fiscal year.

Phathom Pharmaceuticals 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.