Northern Trust Corp Boosts Stock Holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Northern Trust Corp grew its stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 24.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 397,964 shares of the company's stock after purchasing an additional 77,189 shares during the quarter. Northern Trust Corp owned 0.58% of Phathom Pharmaceuticals worth $3,231,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new position in Phathom Pharmaceuticals in the 4th quarter worth approximately $74,000. Teacher Retirement System of Texas acquired a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth about $90,000. Versor Investments LP purchased a new position in shares of Phathom Pharmaceuticals during the fourth quarter valued at $101,000. Virtu Financial LLC acquired a new position in Phathom Pharmaceuticals in the 4th quarter valued at approximately $109,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Phathom Pharmaceuticals in the 4th quarter valued at approximately $125,000. Hedge funds and other institutional investors own 99.01% of the company's stock.

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ PHAT traded up $0.23 during mid-day trading on Thursday, hitting $4.31. 850,476 shares of the stock traded hands, compared to its average volume of 1,181,434. The firm has a 50 day simple moving average of $4.25 and a two-hundred day simple moving average of $6.08. Phathom Pharmaceuticals, Inc. has a twelve month low of $2.21 and a twelve month high of $19.71. The company has a market cap of $300.90 million, a PE ratio of -0.76 and a beta of 0.15.

Analyst Ratings Changes

Several analysts have issued reports on the stock. HC Wainwright decreased their price target on shares of Phathom Pharmaceuticals from $28.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, February 25th. Guggenheim lowered their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Craig Hallum reissued a "buy" rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Finally, The Goldman Sachs Group decreased their price target on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $17.60.

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.