Geode Capital Management LLC Buys 155,577 Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Geode Capital Management LLC increased its position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 18.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,018,495 shares of the company's stock after acquiring an additional 155,577 shares during the quarter. Geode Capital Management LLC owned about 1.49% of Phathom Pharmaceuticals worth $8,272,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in Phathom Pharmaceuticals by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company's stock valued at $834,000 after buying an additional 4,557 shares in the last quarter. Rhumbline Advisers grew its holdings in Phathom Pharmaceuticals by 10.0% during the 4th quarter. Rhumbline Advisers now owns 55,968 shares of the company's stock valued at $454,000 after buying an additional 5,110 shares in the last quarter. Keybank National Association OH grew its holdings in Phathom Pharmaceuticals by 41.4% during the 4th quarter. Keybank National Association OH now owns 25,512 shares of the company's stock valued at $207,000 after buying an additional 7,469 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Phathom Pharmaceuticals during the 4th quarter valued at approximately $74,000. Finally, Teacher Retirement System of Texas purchased a new stake in Phathom Pharmaceuticals during the 4th quarter valued at approximately $90,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. HC Wainwright reiterated a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Needham & Company LLC reiterated a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Monday, April 21st. Craig Hallum reiterated a "buy" rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Guggenheim reiterated a "buy" rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group lowered their target price on Phathom Pharmaceuticals from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Phathom Pharmaceuticals presently has an average rating of "Buy" and a consensus target price of $21.83.

Phathom Pharmaceuticals Stock Up 5.1 %

PHAT traded up $0.21 during trading on Tuesday, reaching $4.36. The company had a trading volume of 790,085 shares, compared to its average volume of 1,026,782. The stock has a market cap of $303.67 million, a P/E ratio of -0.77 and a beta of 0.35. The business has a 50 day simple moving average of $5.08 and a 200-day simple moving average of $8.02. Phathom Pharmaceuticals, Inc. has a 52 week low of $3.81 and a 52 week high of $19.71.

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.