Profund Advisors LLC raised its stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT – Free Report) by 602.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,331 shares of the company’s stock after buying an additional 104,054 shares during the period. Profund Advisors LLC’s holdings in Phathom Pharmaceuticals were worth $886,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of PHAT. Summit Securities Group LLC bought a new position in shares of Phathom Pharmaceuticals in the 1st quarter valued at $34,000. State of Alaska Department of Revenue acquired a new stake in shares of Phathom Pharmaceuticals during the 3rd quarter valued at $25,000. State of Wyoming acquired a new stake in shares of Phathom Pharmaceuticals during the 1st quarter valued at $55,000. Allworth Financial LP bought a new stake in Phathom Pharmaceuticals during the 2nd quarter worth $113,000. Finally, Quantinno Capital Management LP bought a new stake in Phathom Pharmaceuticals during the 1st quarter worth $128,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on PHAT shares. Citigroup reiterated a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday. Barclays reduced their price target on Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Thursday, October 15th. Needham & Company LLC dropped their price objective on shares of Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $16.00 target price on shares of Phathom Pharmaceuticals in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Phathom Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $20.11.
Read Our Latest Stock Report on PHAT
Phathom Pharmaceuticals Stock Down 2.9%
Shares of Phathom Pharmaceuticals stock opened at $5.74 on Wednesday. Phathom Pharmaceuticals, Inc. has a twelve month low of $5.01 and a twelve month high of $18.31. The stock has a market cap of $466.60 million, a price-to-earnings ratio of -5.57 and a beta of 0.69. The company’s fifty day moving average is $7.52 and its 200 day moving average is $10.38.
Phathom Pharmaceuticals Profile
Phathom Pharmaceuticals, Inc (NASDAQ: PHAT) is a biopharmaceutical company focused on developing and commercializing treatments for gastrointestinal diseases. The company’s principal product is Voquezna (vonoprazan), a potassium-competitive acid blocker designed to suppress stomach acid through a mechanism distinct from traditional proton pump inhibitors.
In the United States, Voquezna is approved for the treatment of Helicobacter pylori infection in combination with antibiotics and for certain forms of gastroesophageal reflux disease (GERD), including erosive esophagitis and heartburn associated with non-erosive GERD.
Read More
- Five stocks we like better than Phathom Pharmaceuticals
- Marriott’s Earnings Beat Shows Why It’s More Than a Bet on Travel Demand
- Franklin Templeton’s New ETFs Turn Stock Dividends Into Bitcoin—What’s the Catch?
- Apple’s Earnings Beat Comes With a Catch for Investors Heading Into the Holidays
- Palantir’s $2.3 Billion Quarter Puts Its Premium Valuation to the Test
Want to see what other hedge funds are holding PHAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT – Free Report).
Receive News & Ratings for Phathom Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phathom Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.
