AIGH Capital Management LLC Acquires Shares of 429,000 Phathom Pharmaceuticals, Inc. $PHAT

AIGH Capital Management LLC bought a new position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 429,000 shares of the company’s stock, valued at approximately $5,049,000. Phathom Pharmaceuticals makes up approximately 1.4% of AIGH Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. AIGH Capital Management LLC owned about 0.60% of Phathom Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Frazier Life Sciences Management L.P. lifted its position in Phathom Pharmaceuticals by 23.3% during the second quarter. Frazier Life Sciences Management L.P. now owns 12,466,489 shares of the company’s stock worth $119,554,000 after buying an additional 2,357,210 shares in the last quarter. Invesco Ltd. increased its stake in shares of Phathom Pharmaceuticals by 13.4% in the 2nd quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock worth $39,703,000 after acquiring an additional 489,260 shares during the last quarter. 683 Capital Management LLC raised its holdings in shares of Phathom Pharmaceuticals by 45.7% during the 2nd quarter. 683 Capital Management LLC now owns 2,105,000 shares of the company’s stock worth $20,187,000 after acquiring an additional 660,000 shares during the period. Geode Capital Management LLC boosted its position in shares of Phathom Pharmaceuticals by 5.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,069,927 shares of the company’s stock valued at $10,263,000 after acquiring an additional 53,504 shares during the last quarter. Finally, Moore Capital Management LP purchased a new stake in shares of Phathom Pharmaceuticals in the second quarter valued at about $5,754,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on PHAT shares. Barclays began coverage on shares of Phathom Pharmaceuticals in a research note on Monday, December 8th. They issued an “equal weight” rating and a $16.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, October 8th. Craig Hallum reissued a “buy” rating and set a $22.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, October 31st. Guggenheim reaffirmed a “buy” rating and issued a $20.00 price target on shares of Phathom Pharmaceuticals in a research note on Thursday, October 30th. Finally, Wall Street Zen upgraded Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Phathom Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Phathom Pharmaceuticals Trading Down 4.9%

Shares of NASDAQ PHAT opened at $13.50 on Friday. The stock has a market capitalization of $964.17 million, a PE ratio of -3.53 and a beta of 0.48. Phathom Pharmaceuticals, Inc. has a twelve month low of $2.21 and a twelve month high of $18.31. The stock has a fifty day simple moving average of $15.43 and a 200-day simple moving average of $12.79.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.15. The business had revenue of $49.50 million during the quarter, compared to analyst estimates of $47.03 million. On average, equities analysts predict that Phathom Pharmaceuticals, Inc. will post -4.78 earnings per share for the current year.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company’s core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom’s research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company’s lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.