Woodline Partners LP Has $4.71 Million Stock Holdings in Phathom Pharmaceuticals, Inc. $PHAT

Key Points

• Woodline Partners LP has decreased its investment in Phathom Pharmaceuticals by 25%, now holding approximately 751,692 shares valued at $4.71 million.
• During the first quarter, other institutional investors significantly increased their stakes in Phathom Pharmaceuticals, with GAMMA Investing LLC raising its stake by 797.2%.
• Phathom Pharmaceuticals currently has a consensus rating of "Buy" among analysts, with target price estimates ranging from $17.00 to $28.00.

Woodline Partners LP cut its position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 751,692 shares of the company's stock after selling 250,000 shares during the quarter. Woodline Partners LP owned 1.08% of Phathom Pharmaceuticals worth $4,713,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Phathom Pharmaceuticals by 797.2% during the 1st quarter. GAMMA Investing LLC now owns 4,558 shares of the company's stock valued at $29,000 after purchasing an additional 4,050 shares during the period. CWM LLC increased its position in shares of Phathom Pharmaceuticals by 20,997.1% during the 1st quarter. CWM LLC now owns 7,384 shares of the company's stock valued at $46,000 after purchasing an additional 7,349 shares during the period. Rafferty Asset Management LLC acquired a new position in shares of Phathom Pharmaceuticals during the 4th quarter valued at $90,000. Corton Capital Inc. acquired a new position in shares of Phathom Pharmaceuticals during the 1st quarter valued at $115,000. Finally, ProShare Advisors LLC increased its position in shares of Phathom Pharmaceuticals by 36.3% during the 4th quarter. ProShare Advisors LLC now owns 14,289 shares of the company's stock valued at $116,000 after purchasing an additional 3,804 shares during the period. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, June 6th. HC Wainwright restated a "buy" rating and issued a $20.00 target price on shares of Phathom Pharmaceuticals in a report on Monday, June 9th. Finally, Craig Hallum lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $17.50.

Phathom Pharmaceuticals Trading Up 4.6%

Shares of NASDAQ PHAT traded up $0.51 during mid-day trading on Thursday, reaching $11.51. The company had a trading volume of 247,850 shares, compared to its average volume of 1,696,056. The stock has a market cap of $816.52 million, a PE ratio of -2.45 and a beta of 0.44. The company has a 50-day moving average price of $10.28 and a two-hundred day moving average price of $7.35. Phathom Pharmaceuticals, Inc. has a 1-year low of $2.21 and a 1-year 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.