Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Shares Bought by Fmr LLC

Fmr LLC raised its stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 49,000.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,304,114 shares of the company’s stock after acquiring an additional 1,301,458 shares during the quarter. Fmr LLC owned approximately 1.91% of Phathom Pharmaceuticals worth $23,578,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank increased its stake in Phathom Pharmaceuticals by 62.2% in the third quarter. Huntington National Bank now owns 1,471 shares of the company’s stock valued at $27,000 after purchasing an additional 564 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Phathom Pharmaceuticals by 41.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock valued at $43,000 after purchasing an additional 722 shares during the last quarter. US Bancorp DE increased its stake in Phathom Pharmaceuticals by 28.6% in the third quarter. US Bancorp DE now owns 5,248 shares of the company’s stock valued at $95,000 after purchasing an additional 1,166 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Phathom Pharmaceuticals by 42.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock valued at $104,000 after purchasing an additional 2,987 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in Phathom Pharmaceuticals in the third quarter valued at $197,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Phathom Pharmaceuticals Trading Up 3.2 %

PHAT stock opened at $9.29 on Tuesday. The stock has a 50-day moving average price of $13.80 and a two-hundred day moving average price of $13.25. Phathom Pharmaceuticals, Inc. has a 12-month low of $6.07 and a 12-month high of $19.71. The company has a market cap of $635.22 million, a PE ratio of -1.63 and a beta of 0.56.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PHAT shares. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, September 13th. HC Wainwright reissued a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Monday, August 12th.

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.