Decheng Capital LLC Sells 555,746 Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Decheng Capital LLC lowered its position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 44.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 694,254 shares of the company's stock after selling 555,746 shares during the quarter. Phathom Pharmaceuticals makes up about 1.2% of Decheng Capital LLC's investment portfolio, making the stock its 16th largest position. Decheng Capital LLC owned approximately 1.02% of Phathom Pharmaceuticals worth $5,637,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC grew its stake in shares of Phathom Pharmaceuticals by 20.4% during the fourth quarter. Jennison Associates LLC now owns 7,062,507 shares of the company's stock worth $57,348,000 after purchasing an additional 1,196,118 shares during the period. Vanguard Group Inc. grew its stake in shares of Phathom Pharmaceuticals by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 2,779,561 shares of the company's stock worth $22,570,000 after purchasing an additional 83,238 shares during the period. Wasatch Advisors LP grew its stake in shares of Phathom Pharmaceuticals by 531.3% during the fourth quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company's stock worth $12,658,000 after purchasing an additional 1,311,986 shares during the period. Geode Capital Management LLC grew its stake in Phathom Pharmaceuticals by 18.0% in the fourth quarter. Geode Capital Management LLC now owns 1,018,495 shares of the company's stock valued at $8,272,000 after acquiring an additional 155,577 shares during the period. Finally, Propel Bio Management LLC increased its holdings in shares of Phathom Pharmaceuticals by 13.8% in the fourth quarter. Propel Bio Management LLC now owns 989,927 shares of the company's stock worth $8,038,000 after acquiring an additional 120,000 shares in the last quarter. Institutional investors own 99.01% of the company's stock.

Phathom Pharmaceuticals Stock Performance

Shares of Phathom Pharmaceuticals stock traded down $1.07 on Thursday, reaching $3.22. 2,772,086 shares of the stock were exchanged, compared to its average volume of 1,168,569. Phathom Pharmaceuticals, Inc. has a one year low of $3.25 and a one year high of $19.71. The firm has a market cap of $224.20 million, a PE ratio of -0.57 and a beta of 0.35. The firm's 50 day moving average is $5.06 and its 200-day moving average is $7.99.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Craig Hallum restated a "buy" rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Needham & Company LLC restated a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Monday, April 21st. Guggenheim reissued a "buy" rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, April 2nd. The Goldman Sachs Group reduced their price target on Phathom Pharmaceuticals from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $21.83.

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.