Woodline Partners LP Trims Holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Woodline Partners LP decreased its stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 61.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,001,692 shares of the company's stock after selling 1,571,720 shares during the quarter. Woodline Partners LP owned approximately 1.46% of Phathom Pharmaceuticals worth $8,134,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Jennison Associates LLC boosted its position in Phathom Pharmaceuticals by 20.4% during the fourth quarter. Jennison Associates LLC now owns 7,062,507 shares of the company's stock worth $57,348,000 after acquiring an additional 1,196,118 shares during the last quarter. Rhumbline Advisers boosted its position in Phathom Pharmaceuticals by 10.0% during the fourth quarter. Rhumbline Advisers now owns 55,968 shares of the company's stock worth $454,000 after acquiring an additional 5,110 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Phathom Pharmaceuticals by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company's stock worth $834,000 after acquiring an additional 4,557 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Phathom Pharmaceuticals during the fourth quarter worth about $171,000. Finally, Versor Investments LP acquired a new position in Phathom Pharmaceuticals during the fourth quarter worth about $101,000. Institutional investors and hedge funds own 99.01% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Monday, April 21st. Guggenheim decreased their target price on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. HC Wainwright decreased their target price on shares of Phathom Pharmaceuticals from $28.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $17.60.

Phathom Pharmaceuticals Stock Performance

Shares of Phathom Pharmaceuticals stock traded down $0.02 on Wednesday, reaching $4.10. The company had a trading volume of 309,270 shares, compared to its average volume of 1,172,736. The firm's 50 day moving average price is $4.33 and its two-hundred day moving average price is $6.15. The firm has a market cap of $286.10 million, a PE ratio of -0.72 and a beta of 0.15. Phathom Pharmaceuticals, Inc. has a 52-week low of $2.21 and a 52-week high of $19.71.

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.