Propel Bio Management LLC Purchases 145,000 Shares of Phathom Pharmaceuticals, Inc. $PHAT

Key Points

• Propel Bio Management LLC increased its stake in Phathom Pharmaceuticals by 14.6%, owning approximately 1.63% of the company with a value of about $7.12 million.
• Phathom Pharmaceuticals' stock recently dropped by 1.5%, and it has a market capitalization of $864.05 million with a twelve-month price range between $2.21 and $19.71.
• Analysts have broadly given Phathom Pharmaceuticals a favorable outlook, with an average price target of $17.50 and multiple firms, including Needham & Company, issuing "buy" ratings.

Propel Bio Management LLC lifted its stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 14.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,134,927 shares of the company's stock after purchasing an additional 145,000 shares during the period. Phathom Pharmaceuticals makes up about 8.3% of Propel Bio Management LLC's holdings, making the stock its 4th biggest position. Propel Bio Management LLC owned 1.63% of Phathom Pharmaceuticals worth $7,116,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bank of America Corp DE lifted its holdings in shares of Phathom Pharmaceuticals by 60.4% during the fourth quarter. Bank of America Corp DE now owns 166,505 shares of the company's stock valued at $1,352,000 after purchasing an additional 62,726 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Phathom Pharmaceuticals by 41.3% during the fourth quarter. Wells Fargo & Company MN now owns 25,516 shares of the company's stock valued at $207,000 after purchasing an additional 7,462 shares during the last quarter. ProShare Advisors LLC lifted its holdings 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 purchasing an additional 3,804 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Phathom Pharmaceuticals by 49.4% during the fourth quarter. Deutsche Bank AG now owns 30,213 shares of the company's stock valued at $245,000 after purchasing an additional 9,986 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Phathom Pharmaceuticals by 20.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,803 shares of the company's stock valued at $957,000 after purchasing an additional 19,778 shares during the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Price Performance

Phathom Pharmaceuticals stock traded up $0.09 during mid-day trading on Thursday, hitting $11.97. The company's stock had a trading volume of 1,377,471 shares, compared to its average volume of 1,735,849. The firm's 50 day moving average is $9.72 and its 200 day moving average is $6.92. The company has a market cap of $848.84 million, a PE ratio of -2.53 and a beta of 0.44. Phathom Pharmaceuticals, Inc. has a 52-week low of $2.21 and a 52-week high of $19.71.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PHAT shares. HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of Phathom Pharmaceuticals in a report on Monday, June 9th. Craig Hallum upped their target price on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Phathom Pharmaceuticals 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.