Cubist Systematic Strategies LLC Invests $2.29 Million in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Cubist Systematic Strategies LLC purchased a new stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 282,553 shares of the company's stock, valued at approximately $2,294,000. Cubist Systematic Strategies LLC owned about 0.41% of Phathom Pharmaceuticals at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Catalys Pacific LLC grew its position in shares of Phathom Pharmaceuticals by 4.0% in the 4th quarter. Catalys Pacific LLC now owns 1,167,114 shares of the company's stock valued at $9,477,000 after acquiring an additional 44,542 shares during the period. Brevan Howard Capital Management LP bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at about $186,000. Bayesian Capital Management LP bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at about $121,000. Bank of America Corp DE grew its position in shares of Phathom Pharmaceuticals by 60.4% in the 4th quarter. Bank of America Corp DE now owns 166,505 shares of the company's stock valued at $1,352,000 after acquiring an additional 62,726 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at about $321,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Phathom Pharmaceuticals Stock Up 17.5%

NASDAQ PHAT traded up $0.61 on Friday, hitting $4.09. The company's stock had a trading volume of 1,916,731 shares, compared to its average volume of 1,165,798. Phathom Pharmaceuticals, Inc. has a 1-year low of $2.21 and a 1-year high of $19.71. The company's 50-day moving average is $4.48 and its 200 day moving average is $6.83. The firm has a market cap of $285.54 million, a PE ratio of -0.72 and a beta of 0.15.

Wall Street Analyst Weigh In

PHAT has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price objective on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Guggenheim decreased their price target on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Monday, April 21st. Craig Hallum reiterated a "buy" rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Finally, Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Phathom Pharmaceuticals has a consensus rating of "Buy" and an average price target of $17.60.

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.