683 Capital Management LLC Purchases 420,000 Shares of Phathom Pharmaceuticals, Inc. $PHAT

Key Points

• 683 Capital Management LLC increased their stake in Phathom Pharmaceuticals by 41.0% in Q1, now owning 1,445,000 shares valued at approximately $9.06 million.
• Phathom Pharmaceuticals has received multiple buy ratings from analysts, with price targets ranging from $17.00 to $28.00.
• As of its latest trading session, Phathom Pharmaceuticals' stock has a market cap of $864.05 million and has fluctuated between a 52-week low of $2.21 and a high of $19.71.

683 Capital Management LLC grew its position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 41.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,445,000 shares of the company's stock after acquiring an additional 420,000 shares during the quarter. 683 Capital Management LLC owned 2.07% of Phathom Pharmaceuticals worth $9,060,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Phathom Pharmaceuticals by 797.2% in the 1st 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 last quarter. CWM LLC boosted its holdings in shares of Phathom Pharmaceuticals by 20,997.1% in the 1st 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 last quarter. Rafferty Asset Management LLC acquired a new stake in shares of Phathom Pharmaceuticals in the 4th quarter valued at approximately $90,000. Corton Capital Inc. acquired a new stake in shares of Phathom Pharmaceuticals in the 1st quarter valued at approximately $115,000. Finally, ProShare Advisors LLC boosted its holdings in shares of Phathom Pharmaceuticals by 36.3% in the 4th quarter. ProShare Advisors LLC now owns 14,289 shares of the company's stock valued at $116,000 after buying an additional 3,804 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company's stock.

Phathom Pharmaceuticals Price Performance

Phathom Pharmaceuticals stock traded up $0.34 during mid-day trading on Friday, hitting $12.34. 1,214,040 shares of the company's stock traded hands, compared to its average volume of 1,097,778. The firm has a 50 day simple moving average of $9.82 and a two-hundred day simple moving average of $7.00. Phathom Pharmaceuticals, Inc. has a fifty-two week low of $2.21 and a fifty-two week high of $19.71. The stock has a market cap of $875.40 million, a price-to-earnings ratio of -2.61 and a beta of 0.44.

Wall Street Analyst Weigh In

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

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.