Geode Capital Management LLC Buys 56,871 Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Geode Capital Management LLC raised its stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 7.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 862,918 shares of the company’s stock after purchasing an additional 56,871 shares during the period. Geode Capital Management LLC owned 1.26% of Phathom Pharmaceuticals worth $15,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PHAT. Huntington National Bank grew its holdings in Phathom Pharmaceuticals by 62.2% in the third quarter. Huntington National Bank now owns 1,471 shares of the company’s stock worth $27,000 after purchasing an additional 564 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Phathom Pharmaceuticals by 41.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock valued at $43,000 after acquiring an additional 722 shares in the last quarter. US Bancorp DE raised its position in shares of Phathom Pharmaceuticals by 28.6% in the 3rd 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 boosted its stake in Phathom Pharmaceuticals by 42.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock worth $104,000 after purchasing an additional 2,987 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Phathom Pharmaceuticals in the third quarter worth $197,000. 99.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Wednesday, December 11th. HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Thursday, December 12th.

Phathom Pharmaceuticals Stock Up 1.0 %

Shares of PHAT stock opened at $8.18 on Monday. The stock has a market cap of $559.32 million, a PE ratio of -1.44 and a beta of 0.56. Phathom Pharmaceuticals, Inc. has a 52-week low of $6.07 and a 52-week high of $19.71. The business has a 50-day simple moving average of $11.30 and a 200-day simple moving average of $13.01.

Insider Buying and Selling at Phathom Pharmaceuticals

In other news, Director Frank Karbe bought 12,500 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $7.93 per share, with a total value of $99,125.00. Following the purchase, the director now directly owns 57,000 shares in the company, valued at $452,010. The trade was a 28.09 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 24.10% of the stock is currently owned by corporate insiders.

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.