Wellington Management Group LLP Buys 64,695 Shares of Phathom Pharmaceuticals, Inc. $PHAT

Key Points

• Wellington Management Group LLP has increased its holdings in Phathom Pharmaceuticals by 47.6%, now owning approximately 200,690 shares valued at $1.258 million.
• A range of other hedge funds have also increased their stakes in Phathom, indicating strong institutional interest, with a combined ownership of 99.01% of the company's stock.
• Phathom Pharmaceuticals stock received positive analyst attention, with ratings of "buy" and price targets ranging from $17.00 to $28.00, reflecting an average price target of $17.50.

Wellington Management Group LLP boosted its position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 47.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 200,690 shares of the company's stock after purchasing an additional 64,695 shares during the period. Wellington Management Group LLP owned about 0.29% of Phathom Pharmaceuticals worth $1,258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PHAT. Wells Fargo & Company MN grew its stake in Phathom Pharmaceuticals by 41.3% during the fourth quarter. Wells Fargo & Company MN now owns 25,516 shares of the company's stock worth $207,000 after buying an additional 7,462 shares during the last quarter. Barclays PLC grew its position in Phathom Pharmaceuticals by 32.3% during the 4th quarter. Barclays PLC now owns 76,463 shares of the company's stock worth $621,000 after acquiring an additional 18,656 shares during the last quarter. MetLife Investment Management LLC grew its position in Phathom Pharmaceuticals by 28.0% during the 4th quarter. MetLife Investment Management LLC now owns 24,366 shares of the company's stock worth $198,000 after acquiring an additional 5,337 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Phathom Pharmaceuticals by 21.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,641 shares of the company's stock valued at $209,000 after purchasing an additional 4,592 shares in the last quarter. Finally, Northern Trust Corp raised its position in 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 last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on PHAT. Craig Hallum increased their target price on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a "buy" rating in a report on Monday, June 9th. HC Wainwright reiterated a "buy" rating and set a $20.00 price target on shares of Phathom Pharmaceuticals in a research report on Monday, June 9th. Finally, Needham & Company LLC restated a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Phathom Pharmaceuticals presently has an average rating of "Buy" and a consensus price target of $17.50.

Phathom Pharmaceuticals Trading Down 4.9%

Shares of PHAT traded down $0.59 on Thursday, reaching $11.30. 780,396 shares of the company's stock were exchanged, compared to its average volume of 1,732,511. The stock has a market capitalization of $801.31 million, a P/E ratio of -2.40 and a beta of 0.44. The business has a 50 day moving average price of $9.72 and a two-hundred day moving average price of $6.92. Phathom Pharmaceuticals, Inc. has a 12 month low of $2.21 and a 12 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.