Cubist Systematic Strategies LLC Takes Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new stake in shares of Phathom Pharmaceuticals in the 4th quarter worth approximately $74,000. Teacher Retirement System of Texas acquired a new stake in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $90,000. Versor Investments LP acquired a new stake in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $101,000. Virtu Financial LLC acquired a new stake in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $109,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $121,000. 99.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PHAT. Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. Guggenheim cut their price target on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Monday, April 21st. HC Wainwright decreased their target price on shares of Phathom Pharmaceuticals from $28.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group decreased their target price 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. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $17.60.

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ PHAT traded up $0.23 during trading hours on Thursday, hitting $3.48. 1,231,827 shares of the stock were exchanged, compared to its average volume of 1,153,629. The company's 50 day moving average is $4.51 and its 200 day moving average is $7.09. The firm has a market capitalization of $242.95 million, a P/E ratio of -0.61 and a beta of 0.15. Phathom Pharmaceuticals, Inc. has a one year low of $2.21 and a one year high of $19.71.

Phathom Pharmaceuticals 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.