Phathom Pharmaceuticals, Inc. $PHAT Shares Acquired by 683 Capital Management LLC

683 Capital Management LLC boosted its holdings in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 45.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,105,000 shares of the company’s stock after purchasing an additional 660,000 shares during the quarter. Phathom Pharmaceuticals makes up 1.3% of 683 Capital Management LLC’s holdings, making the stock its 11th largest position. 683 Capital Management LLC’s holdings in Phathom Pharmaceuticals were worth $20,187,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. purchased a new position in shares of Phathom Pharmaceuticals during the 1st quarter valued at approximately $3,738,000. Invesco Ltd. raised its position in Phathom Pharmaceuticals by 13.4% during the second quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock worth $39,703,000 after acquiring an additional 489,260 shares during the period. Ameriprise Financial Inc. acquired a new position in Phathom Pharmaceuticals during the second quarter worth $1,734,000. Propel Bio Management LLC lifted its holdings in 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 purchasing an additional 145,000 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Phathom Pharmaceuticals in the first quarter valued at about $637,000. 99.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Craig Hallum restated a “buy” rating and issued a $22.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, October 31st. Guggenheim reaffirmed a “buy” rating and issued a $20.00 price target on shares of Phathom Pharmaceuticals in a research note on Thursday, October 30th. Raymond James Financial initiated coverage on Phathom Pharmaceuticals in a research report on Thursday. They set a “strong-buy” rating and a $28.00 price target for the company. Finally, Barclays assumed coverage on Phathom Pharmaceuticals in a report on Monday. They issued an “equal weight” rating and a $16.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Phathom Pharmaceuticals Stock Down 0.1%

NASDAQ:PHAT opened at $14.56 on Friday. Phathom Pharmaceuticals, Inc. has a 52 week low of $2.21 and a 52 week high of $16.45. The stock’s fifty day moving average is $13.85 and its two-hundred day moving average is $11.20. The company has a market capitalization of $1.04 billion, a P/E ratio of -3.81 and a beta of 0.43.

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

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.