3,496,808 Shares in Phathom Pharmaceuticals, Inc. $PHAT Acquired by Carlyle Group Inc.

Key Points

• Carlyle Group acquired 3.50 million Phathom Pharmaceuticals shares worth approximately $37.9 million, giving it a 4.32% stake and making PHAT its third-largest portfolio holding.
• Institutional ownership remains very high at 99.01%, with several funds—including Invesco, AQR Capital Management and Nebula Research—recently increasing their positions.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $22.86, although PHAT recently traded at $9.28 amid target-price reductions from several firms.

Carlyle Group Inc. bought a new stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,496,808 shares of the company's stock, valued at approximately $37,940,000. Phathom Pharmaceuticals makes up approximately 0.4% of Carlyle Group Inc.'s portfolio, making the stock its 3rd biggest holding. Carlyle Group Inc. owned 4.32% of Phathom Pharmaceuticals at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in shares of Phathom Pharmaceuticals by 508.2% in the 1st quarter. AQR Capital Management LLC now owns 107,399 shares of the company's stock valued at $673,000 after purchasing an additional 89,741 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Phathom Pharmaceuticals by 0.8% in the second quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company's stock valued at $1,328,000 after buying an additional 1,123 shares during the last quarter. Rhumbline Advisers increased its holdings in Phathom Pharmaceuticals by 13.8% in the second quarter. Rhumbline Advisers now owns 64,557 shares of the company's stock valued at $619,000 after buying an additional 7,818 shares during the last quarter. Invesco Ltd. increased its holdings in Phathom Pharmaceuticals by 13.4% in the second quarter. Invesco Ltd. now owns 4,140,072 shares of the company's stock valued at $39,703,000 after buying an additional 489,260 shares during the last quarter. Finally, Nebula Research & Development LLC raised its stake in Phathom Pharmaceuticals by 31.6% in the second quarter. Nebula Research & Development LLC now owns 37,937 shares of the company's stock valued at $364,000 after buying an additional 9,116 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company's stock.

Analyst Upgrades and Downgrades

PHAT has been the subject of several analyst reports. Needham & Company LLC lowered their price objective on Phathom Pharmaceuticals from $28.00 to $22.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. HC Wainwright restated a "buy" rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, July 31st. Barclays lowered their price target on Phathom Pharmaceuticals from $18.00 to $14.00 and set an "overweight" rating for the company in a report on Friday. Craig Hallum reissued a "buy" rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, July 31st. Finally, Guggenheim reduced their price objective on shares of Phathom Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Phathom Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.86.

Phathom Pharmaceuticals Stock Performance

PHAT opened at $9.28 on Tuesday. Phathom Pharmaceuticals, Inc. has a one year low of $8.21 and a one year high of $18.31. The stock has a market capitalization of $750.75 million, a P/E ratio of -7.25 and a beta of 0.51. The business's 50-day simple moving average is $10.47 and its 200-day simple moving average is $11.25.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company's core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom's research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company's lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.

Want to see what other hedge funds are holding PHAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source