Goldman Sachs Group Inc. Cuts Stake in Phathom Pharmaceuticals, Inc. $PHAT

Goldman Sachs Group Inc. lessened its holdings in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 54.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 187,874 shares of the company’s stock after selling 224,388 shares during the quarter. Goldman Sachs Group Inc. owned 0.27% of Phathom Pharmaceuticals worth $1,178,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. bought a new position in Phathom Pharmaceuticals during the first quarter worth $3,738,000. 683 Capital Management LLC grew its stake in Phathom Pharmaceuticals by 41.0% during the 1st quarter. 683 Capital Management LLC now owns 1,445,000 shares of the company’s stock valued at $9,060,000 after acquiring an additional 420,000 shares in the last quarter. Two Sigma Investments LP grew its stake in Phathom Pharmaceuticals by 215.4% during the 4th quarter. Two Sigma Investments LP now owns 485,790 shares of the company’s stock valued at $3,945,000 after acquiring an additional 331,760 shares in the last quarter. Propel Bio Management LLC lifted its holdings in shares of Phathom Pharmaceuticals by 14.6% during the 1st quarter. Propel Bio Management LLC now owns 1,134,927 shares of the company’s stock valued at $7,116,000 after buying an additional 145,000 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in Phathom Pharmaceuticals in the 4th quarter worth approximately $1,086,000. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PHAT. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, June 6th. Craig Hallum raised their price target on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the company 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 research note on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Phathom Pharmaceuticals has a consensus rating of “Buy” and an average price target of $17.50.

Phathom Pharmaceuticals Trading Down 4.6%

NASDAQ:PHAT opened at $11.21 on Monday. The stock has a market cap of $795.24 million, a P/E ratio of -2.37 and a beta of 0.44. The stock has a 50 day simple moving average of $10.36 and a 200 day simple moving average of $7.45. Phathom Pharmaceuticals, Inc. has a 1-year low of $2.21 and a 1-year high of $19.50.

Phathom Pharmaceuticals Company 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.