Woodline Partners LP Decreases Stake 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 reduced its stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 25.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 751,692 shares of the company's stock after selling 250,000 shares during the period. Woodline Partners LP owned about 1.08% of Phathom Pharmaceuticals worth $4,713,000 at the end of the most recent reporting period.

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

Phathom Pharmaceuticals Stock Down 1.8%

NASDAQ PHAT opened at $11.84 on Friday. Phathom Pharmaceuticals, Inc. has a twelve month low of $2.21 and a twelve month high of $19.71. The firm has a market capitalization of $839.98 million, a PE ratio of -2.50 and a beta of 0.44. The stock's 50 day moving average is $10.15 and its 200 day moving average is $7.24.

Analyst Ratings Changes

PHAT has been the topic of several research analyst reports. HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of Phathom Pharmaceuticals in a research note on Monday, June 9th. Needham & Company LLC reissued a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, June 6th. Finally, Craig Hallum boosted their target price on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the company a "buy" rating in a research note on Monday, June 9th. One investment 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 company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $17.50.

Phathom Pharmaceuticals 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.

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