Wellington Management Group LLP Trims Stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Wellington Management Group LLP cut its position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 21.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,995 shares of the company's stock after selling 37,388 shares during the quarter. Wellington Management Group LLP owned 0.20% of Phathom Pharmaceuticals worth $1,104,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PHAT. Vanguard Group Inc. lifted its stake in shares of Phathom Pharmaceuticals by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 2,779,561 shares of the company's stock valued at $22,570,000 after acquiring an additional 83,238 shares during the last quarter. Wasatch Advisors LP lifted its stake in shares of Phathom Pharmaceuticals by 531.3% in the 4th quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company's stock valued at $12,658,000 after purchasing an additional 1,311,986 shares during the period. Catalys Pacific LLC increased its stake in shares of Phathom Pharmaceuticals by 4.0% in the 4th quarter. Catalys Pacific LLC now owns 1,167,114 shares of the company's stock valued at $9,477,000 after acquiring an additional 44,542 shares in the last quarter. 683 Capital Management LLC boosted its position in shares of Phathom Pharmaceuticals by 1.5% during the 4th quarter. 683 Capital Management LLC now owns 1,025,000 shares of the company's stock worth $8,323,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Phathom Pharmaceuticals by 18.0% in the 4th quarter. Geode Capital Management LLC now owns 1,018,495 shares of the company's stock valued at $8,272,000 after buying an additional 155,577 shares during the period. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PHAT has been the subject of a number of research analyst reports. Guggenheim decreased their target price on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group cut their price objective on Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price target on shares of Phathom Pharmaceuticals in a report on Monday. Craig Hallum increased their price objective on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the company a "buy" rating in a report on Monday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $17.50.

Phathom Pharmaceuticals Stock Up 1.6%

PHAT traded up $0.14 during trading on Tuesday, reaching $8.97. 3,555,813 shares of the company were exchanged, compared to its average volume of 1,445,364. The company has a market cap of $626.23 million, a price-to-earnings ratio of -1.58 and a beta of 0.08. Phathom Pharmaceuticals, Inc. has a 12-month low of $2.21 and a 12-month high of $19.71. The company's 50-day moving average is $4.29 and its two-hundred day moving average is $5.89.

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.