MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 18.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,149 shares of the company’s stock after purchasing an additional 3,408 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Phathom Pharmaceuticals were worth $180,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Wasatch Advisors LP lifted its position in Phathom Pharmaceuticals by 531.3% during the fourth 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 in the last quarter. Jennison Associates LLC lifted its holdings in 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 in the last quarter. Raymond James Financial Inc. acquired a new position in Phathom Pharmaceuticals in the 4th quarter worth $3,701,000. Trexquant Investment LP acquired a new stake in Phathom Pharmaceuticals in the fourth quarter valued at $3,075,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Phathom Pharmaceuticals in the fourth quarter valued at $2,294,000. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. Guggenheim dropped their target price 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 reissued a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Monday, April 21st. HC Wainwright dropped their target price on shares of Phathom Pharmaceuticals from $28.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Finally, The Goldman Sachs Group dropped their target price on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $17.60.

Phathom Pharmaceuticals Stock Performance

Shares of NASDAQ:PHAT opened at $4.24 on Monday. The stock has a market capitalization of $296.01 million, a price-to-earnings ratio of -0.75 and a beta of 0.15. Phathom Pharmaceuticals, Inc. has a 1-year low of $2.21 and a 1-year high of $19.71. The company’s fifty day moving average is $4.20 and its two-hundred day moving average is $5.99.

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.