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

Wellington Management Group LLP lessened its position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 21.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new stake in Phathom Pharmaceuticals in the 4th quarter valued at about $74,000. Teacher Retirement System of Texas acquired a new position in Phathom Pharmaceuticals during the 4th quarter valued at approximately $90,000. Rafferty Asset Management LLC acquired a new position in Phathom Pharmaceuticals during the 4th quarter valued at approximately $90,000. Versor Investments LP acquired a new position in Phathom Pharmaceuticals during the 4th quarter valued at approximately $101,000. Finally, Virtu Financial LLC acquired a new position in Phathom Pharmaceuticals during the 4th quarter valued at approximately $109,000. Institutional investors own 99.01% of the company's stock.

Phathom Pharmaceuticals Price Performance

Shares of PHAT stock traded up $4.23 during trading on Friday, reaching $8.92. The company's stock had a trading volume of 53,214,365 shares, compared to its average volume of 1,402,596. The company has a market capitalization of $622.74 million, a price-to-earnings ratio of -1.57 and a beta of 0.08. The stock's 50-day moving average price is $4.14 and its 200 day moving average price is $5.90. Phathom Pharmaceuticals, Inc. has a 1-year low of $2.21 and a 1-year high of $19.71.

Analyst Upgrades and Downgrades

PHAT has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday. Guggenheim reduced their target price on shares of 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 reduced their target price on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Craig Hallum restated a "buy" rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Finally, HC Wainwright lowered their target price on shares of Phathom Pharmaceuticals from $28.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $17.60.

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.