Marshall Wace LLP Acquires Shares of 98,068 Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Marshall Wace LLP bought a new stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 98,068 shares of the company's stock, valued at approximately $796,000. Marshall Wace LLP owned 0.14% of Phathom Pharmaceuticals as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Barclays PLC boosted its stake in shares of Phathom Pharmaceuticals by 366.0% in the 3rd quarter. Barclays PLC now owns 57,807 shares of the company's stock valued at $1,044,000 after purchasing an additional 45,402 shares in the last quarter. Kera Capital Partners Inc. purchased a new stake in Phathom Pharmaceuticals during the fourth quarter valued at $218,000. Jennison Associates LLC increased its position in Phathom Pharmaceuticals by 20.4% in the fourth quarter. Jennison Associates LLC now owns 7,062,507 shares of the company's stock worth $57,348,000 after buying an additional 1,196,118 shares in the last quarter. Rhumbline Advisers grew its position in shares of Phathom Pharmaceuticals by 10.0% during the fourth quarter. Rhumbline Advisers now owns 55,968 shares of the company's stock worth $454,000 after purchasing an additional 5,110 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of 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 worth $834,000 after acquiring an additional 4,557 shares in the last quarter. Hedge funds and other institutional investors own 99.01% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Guggenheim dropped their target price on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Craig Hallum reiterated a "buy" rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. The Goldman Sachs Group lowered their price objective on Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Monday, April 21st. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $17.60.

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ PHAT remained flat at $2.40 during midday trading on Wednesday. 2,109,858 shares of the stock were exchanged, compared to its average volume of 1,085,016. Phathom Pharmaceuticals, Inc. has a 52 week low of $2.38 and a 52 week high of $19.71. The business's 50 day moving average is $4.77 and its 200-day moving average is $7.54. The stock has a market capitalization of $167.16 million, a P/E ratio of -0.42 and a beta of 0.15.

About Phathom Pharmaceuticals

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.