455,837 Shares in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 455,837 shares of the company's stock, valued at approximately $3,701,000. Raymond James Financial Inc. owned approximately 0.67% of Phathom Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Phathom Pharmaceuticals by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company's stock worth $834,000 after purchasing an additional 4,557 shares in the last quarter. Rhumbline Advisers boosted its stake in Phathom Pharmaceuticals by 10.0% in the 4th 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. Wells Fargo & Company MN boosted its stake in Phathom Pharmaceuticals by 41.3% in the 4th quarter. Wells Fargo & Company MN now owns 25,516 shares of the company's stock worth $207,000 after purchasing an additional 7,462 shares in the last quarter. Keybank National Association OH boosted its stake in Phathom Pharmaceuticals by 41.4% in the 4th quarter. Keybank National Association OH now owns 25,512 shares of the company's stock worth $207,000 after purchasing an additional 7,469 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Phathom Pharmaceuticals in the 4th quarter worth about $74,000. Institutional investors own 99.01% of the company's stock.

Analysts Set New Price Targets

PHAT has been the topic of several research analyst reports. The Goldman Sachs Group lowered their target price on shares of Phathom Pharmaceuticals from $12.00 to $10.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, February 25th. Craig Hallum restated a "buy" rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Needham & Company LLC restated a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Monday, April 21st. Finally, HC Wainwright restated a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Phathom Pharmaceuticals currently has an average rating of "Buy" and an average target price of $21.83.

Phathom Pharmaceuticals Stock Down 0.2 %

NASDAQ PHAT opened at $4.11 on Monday. Phathom Pharmaceuticals, Inc. has a 52 week low of $3.81 and a 52 week high of $19.71. The firm has a market capitalization of $286.21 million, a P/E ratio of -0.72 and a beta of 0.35. The company has a 50-day moving average price of $5.14 and a 200-day moving average price of $8.12.

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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