Phathom Pharmaceuticals, Inc. $PHAT is Catalys Pacific LLC’s 2nd Largest Position

Catalys Pacific LLC lifted its position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 22.4% in the fourth quarter, Holdings Channel reports. The firm owned 1,429,014 shares of the company’s stock after buying an additional 261,900 shares during the period. Phathom Pharmaceuticals accounts for 7.6% of Catalys Pacific LLC’s investment portfolio, making the stock its 2nd largest holding. Catalys Pacific LLC’s holdings in Phathom Pharmaceuticals were worth $23,707,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Phathom Pharmaceuticals in the fourth quarter valued at approximately $1,908,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of Phathom Pharmaceuticals in the fourth quarter valued at approximately $2,439,000. GW&K Investment Management LLC raised its stake in Phathom Pharmaceuticals by 9.1% in the third quarter. GW&K Investment Management LLC now owns 1,144,330 shares of the company’s stock worth $13,469,000 after buying an additional 95,858 shares in the last quarter. GSA Capital Partners LLP bought a new position in Phathom Pharmaceuticals in the third quarter worth approximately $827,000. Finally, Stratos Wealth Partners LTD. bought a new position in Phathom Pharmaceuticals in the fourth quarter worth approximately $834,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PHAT. Guggenheim boosted their price objective on shares of Phathom Pharmaceuticals from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Stifel Nicolaus set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Tuesday, April 21st. Finally, Barclays raised shares of Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $16.00 to $18.00 in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Phathom Pharmaceuticals Stock Performance

Shares of PHAT stock opened at $9.59 on Monday. The business’s fifty day simple moving average is $11.69 and its 200-day simple moving average is $13.20. The company has a market cap of $764.90 million, a PE ratio of -4.52 and a beta of 0.51. Phathom Pharmaceuticals, Inc. has a 12-month low of $4.05 and a 12-month high of $18.31.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $57.58 million for the quarter, compared to analyst estimates of $57.44 million. On average, equities analysts forecast that Phathom Pharmaceuticals, Inc. will post -0.25 earnings per share for the current year.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company’s core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom’s research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company’s lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.