925,000 Shares in Phathom Pharmaceuticals, Inc. $PHAT Purchased by Perceptive Advisors LLC

Key Points

• Perceptive Advisors acquired 925,000 Phathom shares worth approximately $10.3 million, establishing a 1.16% stake. Institutional investors collectively own 99.01% of the company.
• Phathom reported second-quarter revenue of about $74.3 million, exceeding estimates, but lowered its 2026 revenue guidance to $310 million–$325 million, below consensus and its prior outlook.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and average price target of $23.43 versus the stock’s recent $8.75 price; however, a securities-law investigation related to the guidance cut adds risk.

Perceptive Advisors LLC acquired a new position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 925,000 shares of the company's stock, valued at approximately $10,277,000. Perceptive Advisors LLC owned about 1.16% of Phathom Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SummitTX Capital L.P. grew its stake in shares of Phathom Pharmaceuticals by 92.3% during the first quarter. SummitTX Capital L.P. now owns 995,885 shares of the company's stock valued at $11,064,000 after purchasing an additional 478,065 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new position in Phathom Pharmaceuticals in the 4th quarter worth approximately $2,439,000. Next Century Growth Investors LLC acquired a new position in Phathom Pharmaceuticals during the 4th quarter worth $6,533,000. EcoR1 Capital LLC acquired a new position in Phathom Pharmaceuticals during the 1st quarter worth $6,944,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Phathom Pharmaceuticals during the 4th quarter worth $834,000. Institutional investors and hedge funds own 99.01% of the company's stock.

Phathom Pharmaceuticals Stock Performance

Shares of Phathom Pharmaceuticals stock opened at $8.75 on Friday. The firm has a fifty day moving average of $10.77 and a two-hundred day moving average of $11.70. The stock has a market capitalization of $697.90 million, a price-to-earnings ratio of -6.84 and a beta of 0.49. Phathom Pharmaceuticals, Inc. has a 52 week low of $8.02 and a 52 week high of $18.31.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. HC Wainwright reissued a "buy" rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday. Guggenheim cut their price target on Phathom Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday. Needham & Company LLC decreased their price target on Phathom Pharmaceuticals from $28.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday. Craig Hallum reissued a "buy" rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Phathom Pharmaceuticals in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $23.43.

Phathom Pharmaceuticals News Summary

Here are the key news stories impacting Phathom Pharmaceuticals this week:

• Positive Sentiment: Phathom reported second-quarter revenue of approximately $74.3 million, ahead of the $72.7 million analyst consensus. Earnings also improved substantially from the year-earlier period, with some reports characterizing results as breakeven, although another data source reported a loss of $0.08 per share versus expectations for a $0.06 loss. Phathom Pharmaceuticals Reports Second Quarter 2026 Financial Results and Provides Business Update
• Positive Sentiment: Needham maintained a “buy” rating and set a $22 price target, implying substantial potential upside from recent trading levels. The target, however, was reduced from $28, limiting the positive impact. Phathom Pharmaceuticals Given New Price Target at Needham
• Neutral Sentiment: Management is expanding its commercial organization to more than 290 sales representatives, indicating continued investment in product growth but also potentially increasing near-term operating costs. Phathom Pharmaceuticals Q2 2026 Earnings Call Transcript
• Negative Sentiment: Phathom lowered its fiscal 2026 revenue guidance to $310 million-$325 million, below the roughly $334.3 million consensus estimate and below its previous high end of $345 million. The outlook reduction was the primary fundamental catalyst for the sharp decline in the stock. Phathom Pharmaceuticals Investigation Notice
• Negative Sentiment: Levi & Korsinsky announced an investigation into whether Phathom may have violated securities laws in connection with its guidance update. The potential legal overhang adds further pressure following the guidance reduction.

Phathom Pharmaceuticals Profile

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.

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