US Bancorp DE Purchases 16,937 Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

US Bancorp DE grew its position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 248.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,763 shares of the company’s stock after purchasing an additional 16,937 shares during the quarter. US Bancorp DE’s holdings in Phathom Pharmaceuticals were worth $149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Phathom Pharmaceuticals by 797.2% in the first quarter. GAMMA Investing LLC now owns 4,558 shares of the company’s stock worth $29,000 after purchasing an additional 4,050 shares during the period. CWM LLC lifted its holdings in shares of Phathom Pharmaceuticals by 20,997.1% in the first quarter. CWM LLC now owns 7,384 shares of the company’s stock worth $46,000 after buying an additional 7,349 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth $90,000. ProShare Advisors LLC lifted its holdings in shares of Phathom Pharmaceuticals by 36.3% in the fourth quarter. ProShare Advisors LLC now owns 14,289 shares of the company’s stock worth $116,000 after buying an additional 3,804 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth $121,000. 99.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PHAT. Needham & Company LLC reissued a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Friday, June 6th. Guggenheim lowered 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. The Goldman Sachs Group lowered 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. Craig Hallum boosted their target price on shares of Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Phathom Pharmaceuticals in a report on Monday, June 9th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Phathom Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $17.50.

Phathom Pharmaceuticals Stock Down 2.2%

Phathom Pharmaceuticals stock opened at $10.24 on Friday. The company has a market cap of $726.47 million, a price-to-earnings ratio of -2.16 and a beta of 0.45. The firm’s fifty day moving average is $9.29 and its 200 day moving average is $6.40. Phathom Pharmaceuticals, Inc. has a 52-week low of $2.21 and a 52-week 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.