Invesco Ltd. Has $29.81 Million Stock Holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Invesco Ltd. lessened its holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 10.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,671,386 shares of the company's stock after selling 425,376 shares during the period. Invesco Ltd. owned approximately 5.37% of Phathom Pharmaceuticals worth $29,812,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PHAT. State Street Corp lifted its holdings in Phathom Pharmaceuticals by 17.5% during the 3rd quarter. State Street Corp now owns 922,788 shares of the company's stock valued at $16,684,000 after purchasing an additional 137,539 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Phathom Pharmaceuticals by 72.8% during the third quarter. MML Investors Services LLC now owns 33,860 shares of the company's stock worth $612,000 after buying an additional 14,260 shares in the last quarter. Barclays PLC boosted its holdings in shares of Phathom Pharmaceuticals by 366.0% in the 3rd quarter. Barclays PLC now owns 57,807 shares of the company's stock worth $1,044,000 after acquiring an additional 45,402 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Phathom Pharmaceuticals by 7.1% in the 3rd quarter. Geode Capital Management LLC now owns 862,918 shares of the company's stock worth $15,605,000 after acquiring an additional 56,871 shares in the last quarter. Finally, Kera Capital Partners Inc. bought a new stake in Phathom Pharmaceuticals during the 4th quarter worth approximately $218,000. Institutional investors own 99.01% of the company's stock.

Phathom Pharmaceuticals Stock Performance

PHAT stock traded up $0.28 during midday trading on Wednesday, hitting $4.24. 293,576 shares of the company's stock were exchanged, compared to its average volume of 1,015,647. Phathom Pharmaceuticals, Inc. has a one year low of $3.81 and a one year high of $19.71. The company has a market cap of $295.26 million, a PE ratio of -0.75 and a beta of 0.35. The stock's fifty day moving average price is $5.24 and its 200-day moving average price is $8.43.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Craig Hallum reissued a "buy" rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. HC Wainwright reissued a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research report on Tuesday, February 25th. Guggenheim reiterated a "buy" rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, April 2nd. Finally, Needham & Company LLC restated a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Monday. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Phathom Pharmaceuticals has a consensus rating of "Buy" and an average target price of $21.83.

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.