Wellington Management Group LLP Reduces Holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Wellington Management Group LLP reduced its position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 21.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 135,995 shares of the company’s stock after selling 37,388 shares during the period. Wellington Management Group LLP owned 0.20% of Phathom Pharmaceuticals worth $1,104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PHAT. Jennison Associates LLC lifted its stake in Phathom Pharmaceuticals by 20.4% in the fourth quarter. Jennison Associates LLC now owns 7,062,507 shares of the company’s stock valued at $57,348,000 after buying an additional 1,196,118 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Phathom Pharmaceuticals by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 2,779,561 shares of the company’s stock valued at $22,570,000 after acquiring an additional 83,238 shares during the period. State Street Corp raised its position in Phathom Pharmaceuticals by 17.5% in the 3rd quarter. State Street Corp now owns 922,788 shares of the company’s stock valued at $16,684,000 after purchasing an additional 137,539 shares during the last quarter. Geode Capital Management LLC boosted its stake in Phathom Pharmaceuticals by 7.1% during the 3rd quarter. Geode Capital Management LLC now owns 862,918 shares of the company’s stock worth $15,605,000 after purchasing an additional 56,871 shares during the period. Finally, Simplify Asset Management Inc. grew its position in Phathom Pharmaceuticals by 11.5% during the 4th quarter. Simplify Asset Management Inc. now owns 581,935 shares of the company’s stock worth $4,725,000 after purchasing an additional 60,000 shares during the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PHAT. Guggenheim reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a report on Wednesday, April 2nd. Craig Hallum reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Wednesday, April 9th. HC Wainwright restated a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Finally, Cantor Fitzgerald raised Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Phathom Pharmaceuticals presently has an average rating of “Buy” and an average price target of $22.17.

Phathom Pharmaceuticals Trading Up 18.7 %

Shares of PHAT stock opened at $4.88 on Monday. The stock has a 50 day simple moving average of $5.45 and a 200-day simple moving average of $9.01. The company has a market cap of $339.83 million, a price-to-earnings ratio of -0.86 and a beta of 0.35. Phathom Pharmaceuticals, Inc. has a 12-month low of $3.81 and a 12-month high of $19.71.

Insider Buying and Selling

In related news, insider Terrie Curran sold 19,109 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total transaction of $125,928.31. Following the sale, the insider now owns 360,465 shares of the company’s stock, valued at approximately $2,375,464.35. The trade was a 5.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Molly Henderson sold 6,583 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $43,381.97. Following the transaction, the chief financial officer now owns 93,546 shares in the company, valued at $616,468.14. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,256 shares of company stock valued at $238,014 over the last quarter. Company insiders own 24.10% of the company’s stock.

Phathom Pharmaceuticals 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.