Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Shares Sold by Avidity Partners Management LP

Avidity Partners Management LP lessened its stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 23.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,390,100 shares of the company's stock after selling 414,393 shares during the quarter. Avidity Partners Management LP owned 2.03% of Phathom Pharmaceuticals worth $11,288,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its holdings in Phathom Pharmaceuticals by 366.0% in the third quarter. Barclays PLC now owns 57,807 shares of the company's stock valued at $1,044,000 after acquiring an additional 45,402 shares during the period. Kera Capital Partners Inc. purchased a new position in Phathom Pharmaceuticals during the fourth quarter worth approximately $218,000. Jennison Associates LLC grew its holdings in Phathom Pharmaceuticals by 20.4% in the fourth quarter. Jennison Associates LLC now owns 7,062,507 shares of the company's stock valued at $57,348,000 after purchasing an additional 1,196,118 shares during the period. Rhumbline Advisers raised its stake in shares of Phathom Pharmaceuticals by 10.0% during the 4th quarter. Rhumbline Advisers now owns 55,968 shares of the company's stock worth $454,000 after buying an additional 5,110 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Phathom Pharmaceuticals by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company's stock worth $834,000 after buying an additional 4,557 shares during the period. Hedge funds and other institutional investors own 99.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PHAT. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. Craig Hallum reissued a "buy" rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. HC Wainwright decreased their price target on shares of Phathom Pharmaceuticals from $28.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Guggenheim cut their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, 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. One investment 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's stock. Based on data from MarketBeat.com, Phathom Pharmaceuticals currently has an average rating of "Buy" and a consensus price target of $17.60.

Phathom Pharmaceuticals Stock Performance

PHAT remained flat at $2.40 on Wednesday. 2,109,858 shares of the company were exchanged, compared to its average volume of 1,085,016. Phathom Pharmaceuticals, Inc. has a 52-week low of $2.38 and a 52-week high of $19.71. The firm has a market capitalization of $167.16 million, a PE ratio of -0.42 and a beta of 0.15. The business has a fifty day moving average price of $4.83 and a two-hundred day moving average price of $7.57.

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.