101,520 Shares in Phathom Pharmaceuticals, Inc. $PHAT Purchased by Nuveen LLC

Key Points

• Nuveen LLC has made a new investment of approximately $637,000 in Phathom Pharmaceuticals, acquiring 101,520 shares and owning about 0.15% of the company.
• A number of institutional investors, including Wells Fargo and Barclays, have also increased their stakes in Phathom Pharmaceuticals, indicating strong institutional interest in the company.
• Several analysts have set new price targets for Phathom Pharmaceuticals, with recommendations ranging from $17.00 to $28.00 and an average rating of "Buy".

Nuveen LLC acquired 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 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 101,520 shares of the company's stock, valued at approximately $637,000. Nuveen LLC owned approximately 0.15% of Phathom Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PHAT. GAMMA Investing LLC boosted its position 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 buying an additional 4,050 shares during the last quarter. CWM LLC boosted its position in shares of Phathom Pharmaceuticals by 20,997.1% during the first 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 purchased a new position in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $90,000. Corton Capital Inc. purchased a new position in shares of Phathom Pharmaceuticals during the first quarter valued at approximately $115,000. Finally, ProShare Advisors LLC boosted its position in shares of Phathom Pharmaceuticals by 36.3% during the fourth 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. Hedge funds and other institutional investors own 99.01% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, June 6th. HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of Phathom Pharmaceuticals in a research report on Monday, June 9th. Finally, Craig Hallum boosted 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 equities research 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $17.50.

Phathom Pharmaceuticals Price Performance

Shares of PHAT traded up $0.05 during mid-day trading on Tuesday, hitting $12.48. The stock had a trading volume of 125,262 shares, compared to its average volume of 1,721,230. The firm has a market cap of $885.40 million, a P/E ratio of -2.64 and a beta of 0.44. The business has a fifty day moving average price of $9.88 and a 200-day moving average price of $7.07. Phathom Pharmaceuticals, Inc. has a 52 week low of $2.21 and a 52 week high of $19.71.

About Phathom Pharmaceuticals

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.