Phathom Pharmaceuticals, Inc. $PHAT Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Phathom Pharmaceuticals by 54.4%, selling 224,388 shares, leaving it with a holding of 187,874 shares valued at approximately $1.18 million.
• Other institutions are actively adjusting their positions; notable transactions include Jacobs Levy Equity Management purchasing a new stake worth $3.74 million and 683 Capital Management increasing its stake by 41%.
• Wall Street analysts maintain a consensus "Buy" rating for Phathom Pharmaceuticals, with target prices ranging from $17.00 to $28.00, suggesting bullish sentiment towards the stock's future performance.

Goldman Sachs Group Inc. reduced its position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 54.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 187,874 shares of the company's stock after selling 224,388 shares during the quarter. Goldman Sachs Group Inc. owned about 0.27% of Phathom Pharmaceuticals worth $1,178,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PHAT. Jacobs Levy Equity Management Inc. bought a new stake in Phathom Pharmaceuticals in the first quarter worth $3,738,000. 683 Capital Management LLC lifted its holdings in shares of Phathom Pharmaceuticals by 41.0% in the 1st quarter. 683 Capital Management LLC now owns 1,445,000 shares of the company's stock worth $9,060,000 after acquiring an additional 420,000 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Phathom Pharmaceuticals by 215.4% during the 4th quarter. Two Sigma Investments LP now owns 485,790 shares of the company's stock worth $3,945,000 after purchasing an additional 331,760 shares during the period. Propel Bio Management LLC grew its holdings in Phathom Pharmaceuticals by 14.6% during the 1st quarter. Propel Bio Management LLC now owns 1,134,927 shares of the company's stock valued at $7,116,000 after purchasing an additional 145,000 shares during the last quarter. Finally, Two Sigma Advisers LP purchased a new position in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $1,086,000. 99.01% of the stock is currently owned by institutional investors.

Phathom Pharmaceuticals Stock Performance

PHAT traded up $0.53 on Monday, reaching $11.74. 565,713 shares of the company's stock were exchanged, compared to its average volume of 1,082,492. The stock's fifty day moving average price is $10.36 and its 200-day moving average price is $7.45. Phathom Pharmaceuticals, Inc. has a twelve month low of $2.21 and a twelve month high of $19.50.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, June 6th. HC Wainwright reissued a "buy" rating and issued a $20.00 price objective on shares of Phathom Pharmaceuticals in a research report on Monday, June 9th. Finally, Craig Hallum raised their price objective on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a "buy" rating in a research 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target 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.