Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Shares Acquired by Two Sigma Investments LP

Two Sigma Investments LP increased its position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 215.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 485,790 shares of the company's stock after buying an additional 331,760 shares during the period. Two Sigma Investments LP owned about 0.71% of Phathom Pharmaceuticals worth $3,945,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PHAT. Wasatch Advisors LP increased its stake in shares of Phathom Pharmaceuticals by 531.3% during the fourth quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company's stock worth $12,658,000 after buying an additional 1,311,986 shares during the period. Jennison Associates LLC boosted its holdings in Phathom Pharmaceuticals by 20.4% in the fourth quarter. Jennison Associates LLC now owns 7,062,507 shares of the company's stock valued at $57,348,000 after purchasing an additional 1,196,118 shares in the last quarter. Tang Capital Management LLC acquired a new position in Phathom Pharmaceuticals in the fourth quarter valued at approximately $4,060,000. Raymond James Financial Inc. acquired a new position in Phathom Pharmaceuticals in the fourth quarter valued at approximately $3,701,000. Finally, Trexquant Investment LP acquired a new position in Phathom Pharmaceuticals in the fourth quarter valued at approximately $3,075,000. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PHAT shares. Guggenheim lowered their price target on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating for the company in a report on Friday, May 2nd. HC Wainwright lowered their price target on Phathom Pharmaceuticals from $28.00 to $20.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Monday, April 21st. Cantor Fitzgerald raised Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group lowered their price target on 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 assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $17.60.

Phathom Pharmaceuticals Price Performance

Shares of PHAT stock traded up $0.39 during trading hours on Monday, hitting $4.64. The stock had a trading volume of 800,228 shares, compared to its average volume of 1,183,589. The firm has a market capitalization of $323.94 million, a PE ratio of -0.82 and a beta of 0.15. Phathom Pharmaceuticals, Inc. has a twelve month low of $2.21 and a twelve month high of $19.71. The stock's 50 day moving average is $4.17 and its 200 day moving average is $5.96.

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.