596,108 Shares in Phathom Pharmaceuticals, Inc. $PHAT Bought by Jacobs Levy Equity Management Inc.

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. bought 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 filing with the Securities & Exchange Commission. The fund bought 596,108 shares of the company's stock, valued at approximately $3,738,000. Jacobs Levy Equity Management Inc. owned about 0.85% of Phathom Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of America Corp DE boosted its holdings 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 buying an additional 62,726 shares during the period. ProShare Advisors LLC lifted its holdings in Phathom Pharmaceuticals by 36.3% in the fourth quarter. ProShare Advisors LLC now owns 14,289 shares of the company's stock worth $116,000 after acquiring an additional 3,804 shares during the last quarter. Deutsche Bank AG boosted its stake in Phathom Pharmaceuticals by 49.4% in the fourth quarter. Deutsche Bank AG now owns 30,213 shares of the company's stock valued at $245,000 after acquiring an additional 9,986 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Phathom Pharmaceuticals by 20.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,803 shares of the company's stock valued at $957,000 after purchasing an additional 19,778 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 4,050 shares during the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PHAT. HC Wainwright restated a "buy" rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a research report on Monday, June 9th. Craig Hallum raised their target price on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Finally, Needham & Company LLC restated a "buy" rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Phathom Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $17.50.

Phathom Pharmaceuticals Stock Performance

NASDAQ:PHAT opened at $12.89 on Wednesday. The stock has a market cap of $914.47 million, a price-to-earnings ratio of -2.73 and a beta of 0.44. Phathom Pharmaceuticals, Inc. has a 1 year low of $2.21 and a 1 year high of $19.71. The business has a fifty day moving average of $9.96 and a 200-day moving average of $7.11.

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.

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