Northern Trust Corp Has $3.23 Million Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Northern Trust Corp increased its position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 24.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 397,964 shares of the company’s stock after buying an additional 77,189 shares during the period. Northern Trust Corp owned 0.58% of Phathom Pharmaceuticals worth $3,231,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PHAT. Wasatch Advisors LP grew its stake in shares of Phathom Pharmaceuticals by 531.3% in the 4th quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company’s stock valued at $12,658,000 after buying an additional 1,311,986 shares during the period. Jennison Associates LLC boosted its stake in shares of Phathom Pharmaceuticals by 20.4% in the 4th quarter. Jennison Associates LLC now owns 7,062,507 shares of the company’s stock worth $57,348,000 after buying an additional 1,196,118 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth approximately $3,701,000. Trexquant Investment LP purchased a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth approximately $3,075,000. Finally, Geode Capital Management LLC boosted its stake in shares of Phathom Pharmaceuticals by 18.0% in the 4th quarter. Geode Capital Management LLC now owns 1,018,495 shares of the company’s stock worth $8,272,000 after buying an additional 155,577 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PHAT shares. Guggenheim lowered their price target on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Monday, April 21st. Craig Hallum restated a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. Finally, HC Wainwright cut their target price on shares of Phathom Pharmaceuticals from $28.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $17.60.

Phathom Pharmaceuticals Stock Down 5.0%

NASDAQ PHAT opened at $4.02 on Friday. The firm has a market cap of $280.65 million, a price-to-earnings ratio of -0.71 and a beta of 0.15. The company has a 50-day simple moving average of $4.42 and a two-hundred day simple moving average of $6.42. Phathom Pharmaceuticals, Inc. has a 12-month low of $2.21 and a 12-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.