Raymond James Financial Inc. Buys Shares of 455,837 Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Raymond James Financial Inc. acquired a new stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 455,837 shares of the company's stock, valued at approximately $3,701,000. Raymond James Financial Inc. owned about 0.67% of Phathom Pharmaceuticals as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capula Management Ltd acquired a new position in Phathom Pharmaceuticals in the fourth quarter valued at approximately $131,000. Aristides Capital LLC bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at about $205,000. Wells Fargo & Company MN lifted its stake in Phathom Pharmaceuticals by 41.3% in the fourth quarter. Wells Fargo & Company MN now owns 25,516 shares of the company's stock valued at $207,000 after acquiring an additional 7,462 shares during the last quarter. Trexquant Investment LP bought a new stake in Phathom Pharmaceuticals in the 4th quarter valued at $3,075,000. Finally, Geode Capital Management LLC grew its stake in Phathom Pharmaceuticals by 18.0% in the 4th quarter. Geode Capital Management LLC now owns 1,018,495 shares of the company's stock valued at $8,272,000 after buying an additional 155,577 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PHAT. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Monday, April 21st. Cantor Fitzgerald raised Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. Guggenheim reissued a "buy" rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, April 2nd. The Goldman Sachs Group lowered their target price on shares of Phathom Pharmaceuticals from $12.00 to $10.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Finally, Craig Hallum reiterated a "buy" rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $20.50.

Phathom Pharmaceuticals Stock Down 11.8 %

Shares of Phathom Pharmaceuticals stock traded down $0.40 during trading on Friday, reaching $2.97. The company's stock had a trading volume of 1,118,093 shares, compared to its average volume of 1,050,612. The firm's 50-day moving average is $5.02 and its two-hundred day moving average is $7.91. Phathom Pharmaceuticals, Inc. has a 52-week low of $2.93 and a 52-week high of $19.71. The company has a market cap of $206.51 million, a price-to-earnings ratio of -0.52 and a beta of 0.35.

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.