Price T Rowe Associates Inc. MD Raises Stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Price T Rowe Associates Inc. MD boosted its stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 21.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,641 shares of the company’s stock after purchasing an additional 4,592 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Phathom Pharmaceuticals were worth $209,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PHAT. Kera Capital Partners Inc. purchased a new stake in Phathom Pharmaceuticals in the fourth quarter valued at approximately $218,000. Jennison Associates LLC grew its holdings 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 purchasing an additional 1,196,118 shares during the period. Rhumbline Advisers grew its holdings in Phathom Pharmaceuticals by 10.0% in the fourth quarter. Rhumbline Advisers now owns 55,968 shares of the company’s stock valued at $454,000 after purchasing an additional 5,110 shares during the period. Bank of New York Mellon Corp grew its holdings in Phathom Pharmaceuticals by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company’s stock valued at $834,000 after purchasing an additional 4,557 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in Phathom Pharmaceuticals in the fourth quarter valued at approximately $171,000. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PHAT. Guggenheim decreased their price objective on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. The Goldman Sachs Group decreased their price objective on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Craig Hallum reiterated a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Monday, April 21st. Finally, HC Wainwright decreased their price objective on shares of Phathom Pharmaceuticals from $28.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Phathom Pharmaceuticals has an average rating of “Buy” and a consensus target price of $17.60.

Phathom Pharmaceuticals Trading Up 17.5%

Shares of PHAT stock opened at $4.09 on Friday. The company has a market capitalization of $285.54 million, a PE ratio of -0.72 and a beta of 0.15. The firm has a fifty day simple moving average of $4.48 and a 200-day simple moving average of $6.90. Phathom Pharmaceuticals, Inc. has a twelve month low of $2.21 and a twelve month high of $19.71.

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.