90,191 Shares in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Purchased by XTX Topco Ltd

XTX Topco Ltd acquired a new stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 90,191 shares of the company's stock, valued at approximately $565,000. XTX Topco Ltd owned about 0.13% of Phathom Pharmaceuticals as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the business. Wasatch Advisors LP raised its holdings in shares of Phathom Pharmaceuticals by 531.3% in the fourth 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 last quarter. Tang Capital Management LLC bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter valued at approximately $4,060,000. Raymond James Financial Inc. bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter valued at approximately $3,701,000. Two Sigma Investments LP boosted its position in shares of Phathom Pharmaceuticals by 215.4% in the fourth quarter. Two Sigma Investments LP now owns 485,790 shares of the company's stock valued at $3,945,000 after acquiring an additional 331,760 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter valued at approximately $2,294,000. Institutional investors and hedge funds own 99.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PHAT shares. Guggenheim cut their price objective 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 cut their price objective 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. Needham & Company LLC restated a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, June 6th. HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Phathom Pharmaceuticals in a research report on Monday, June 9th. Finally, Craig Hallum raised their price objective on shares of Phathom Pharmaceuticals from $12.00 to $17.00 and gave the company a "buy" rating in a research report on Monday, June 9th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $17.50.

Phathom Pharmaceuticals Price Performance

Phathom Pharmaceuticals stock traded up $0.34 during mid-day trading on Friday, reaching $9.74. 1,374,342 shares of the company traded hands, compared to its average volume of 1,017,887. Phathom Pharmaceuticals, Inc. has a 52-week low of $2.21 and a 52-week high of $19.71. The firm has a market capitalization of $679.95 million, a price-to-earnings ratio of -2.06 and a beta of 0.45. The firm's 50 day moving average price is $8.81 and its 200 day moving average price is $6.27.

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.