Jacobs Levy Equity Management Inc. Invests $3.74 Million in Phathom Pharmaceuticals, Inc. $PHAT

Key Points

• Jacobs Levy Equity Management Inc. acquired 596,108 shares of Phathom Pharmaceuticals valued at approximately $3.7 million, now holding about 0.85% of the company.
• Multiple institutional investors, including Bank of America and Deutsche Bank, significantly increased their stakes in Phathom Pharmaceuticals during the fourth quarter.
• Wall Street analysts have a positive outlook on Phathom Pharmaceuticals, with a consensus rating of "Buy" and a target price of $17.50, indicating potential growth.

Jacobs Levy Equity Management Inc. purchased a new stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 596,108 shares of the company's stock, valued at approximately $3,738,000. Jacobs Levy Equity Management Inc. owned 0.85% of Phathom Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Phathom Pharmaceuticals by 797.2% during the first quarter. GAMMA Investing LLC now owns 4,558 shares of the company's stock valued at $29,000 after buying an additional 4,050 shares during the period. CWM LLC grew its position in Phathom Pharmaceuticals by 20,997.1% during the first quarter. CWM LLC now owns 7,384 shares of the company's stock valued at $46,000 after buying an additional 7,349 shares during the period. Rafferty Asset Management LLC purchased a new stake in Phathom Pharmaceuticals during the fourth quarter valued at about $90,000. ProShare Advisors LLC lifted its holdings in Phathom Pharmaceuticals by 36.3% during the fourth quarter. ProShare Advisors LLC now owns 14,289 shares of the company's stock valued at $116,000 after purchasing an additional 3,804 shares during the last quarter. Finally, Corton Capital Inc. purchased a new stake in Phathom Pharmaceuticals during the first quarter valued at about $115,000. Institutional investors own 99.01% of the company's stock.

Phathom Pharmaceuticals Price Performance

NASDAQ PHAT traded down $0.29 on Monday, reaching $11.55. 140,214 shares of the company's stock traded hands, compared to its average volume of 1,706,032. Phathom Pharmaceuticals, Inc. has a 12 month low of $2.21 and a 12 month high of $19.71. The stock has a market cap of $819.14 million, a PE ratio of -2.42 and a beta of 0.44. The stock has a 50-day simple moving average of $10.15 and a 200 day simple moving average of $7.26.

Analysts Set New Price Targets

Several equities research analysts have commented on PHAT shares. Craig Hallum upped their price objective on shares of Phathom Pharmaceuticals from $12.00 to $17.00 and gave the company a "buy" rating in a report on Monday, June 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, June 6th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $17.50.

About Phathom Pharmaceuticals

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.