Bank of America Corp DE Boosts Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Bank of America Corp DE boosted its position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 60.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,505 shares of the company's stock after purchasing an additional 62,726 shares during the period. Bank of America Corp DE owned approximately 0.24% of Phathom Pharmaceuticals worth $1,352,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PHAT. BNP Paribas Financial Markets purchased a new stake in Phathom Pharmaceuticals during the 4th quarter worth about $321,000. 683 Capital Management LLC lifted its position in Phathom Pharmaceuticals by 1.5% in the fourth quarter. 683 Capital Management LLC now owns 1,025,000 shares of the company's stock valued at $8,323,000 after acquiring an additional 15,000 shares during the last quarter. Northern Trust Corp boosted its position in shares of Phathom Pharmaceuticals by 24.1% in the 4th quarter. Northern Trust Corp now owns 397,964 shares of the company's stock valued at $3,231,000 after purchasing an additional 77,189 shares during the period. Propel Bio Management LLC boosted its holdings in shares of Phathom Pharmaceuticals by 13.8% in the fourth quarter. Propel Bio Management LLC now owns 989,927 shares of the company's stock valued at $8,038,000 after acquiring an additional 120,000 shares during the period. Finally, Virtus ETF Advisers LLC boosted its stake in Phathom Pharmaceuticals by 45.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 43,789 shares of the company's stock worth $356,000 after purchasing an additional 13,711 shares during the period. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Guggenheim dropped their price objective on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Craig Hallum increased their price target on shares of Phathom Pharmaceuticals from $12.00 to $17.00 and gave the company a "buy" rating in a report on Monday. Cantor Fitzgerald raised Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. The Goldman Sachs Group reduced their price target on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, HC Wainwright reiterated a "buy" rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a research report on Monday. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $17.50.

Phathom Pharmaceuticals Price Performance

PHAT stock traded down $0.09 on Monday, hitting $8.83. 8,931,994 shares of the company were exchanged, compared to its average volume of 1,432,750. The stock has a market capitalization of $616.46 million, a price-to-earnings ratio of -1.55 and a beta of 0.08. The business's fifty day moving average is $4.14 and its two-hundred day moving average is $5.87. Phathom Pharmaceuticals, Inc. has a twelve month low of $2.21 and a twelve month 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.