Geode Capital Management LLC Acquires 155,577 Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Geode Capital Management LLC boosted its holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 18.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,018,495 shares of the company’s stock after purchasing an additional 155,577 shares during the quarter. Geode Capital Management LLC owned about 1.49% of Phathom Pharmaceuticals worth $8,272,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. KLP Kapitalforvaltning AS acquired a new stake in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $74,000. Teacher Retirement System of Texas acquired a new stake in Phathom Pharmaceuticals in the fourth quarter worth $90,000. Versor Investments LP acquired a new stake in Phathom Pharmaceuticals in the fourth quarter worth $101,000. Virtu Financial LLC bought a new stake in Phathom Pharmaceuticals in the fourth quarter valued at $109,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Phathom Pharmaceuticals during the fourth quarter valued at about $171,000. 99.01% of the stock is currently owned by institutional investors.

Phathom Pharmaceuticals Stock Up 1.5 %

Shares of NASDAQ:PHAT opened at $4.02 on Thursday. The business’s 50 day moving average is $5.20 and its 200 day moving average is $8.39. Phathom Pharmaceuticals, Inc. has a 12-month low of $3.81 and a 12-month high of $19.71. The stock has a market cap of $279.94 million, a price-to-earnings ratio of -0.71 and a beta of 0.35.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PHAT. Guggenheim restated a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, April 2nd. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. The Goldman Sachs Group lowered their target price on Phathom Pharmaceuticals from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Monday. Finally, Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, February 25th. One equities research 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 stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $21.83.

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.