Charles Schwab Investment Management Inc. Purchases 60,178 Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Charles Schwab Investment Management Inc. boosted its position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,038 shares of the company's stock after purchasing an additional 60,178 shares during the period. Charles Schwab Investment Management Inc. owned about 0.52% of Phathom Pharmaceuticals worth $2,867,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PHAT. Versor Investments LP bought a new stake in shares of Phathom Pharmaceuticals in the fourth quarter worth $101,000. Los Angeles Capital Management LLC acquired a new stake in Phathom Pharmaceuticals in the 4th quarter valued at $171,000. Quest Partners LLC bought a new stake in Phathom Pharmaceuticals during the 3rd quarter worth about $197,000. Intech Investment Management LLC bought a new stake in Phathom Pharmaceuticals during the 3rd quarter worth about $207,000. Finally, Kera Capital Partners Inc. bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at about $218,000. Institutional investors and hedge funds own 99.01% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on PHAT shares. Craig Hallum reiterated a "buy" rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Cantor Fitzgerald raised Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. Needham & Company LLC restated a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Thursday, March 6th. Guggenheim set a $18.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Finally, The Goldman Sachs Group decreased their price objective on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "neutral" rating for the company in a research report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $22.17.

Phathom Pharmaceuticals Price Performance

PHAT stock traded down $0.33 during midday trading on Monday, reaching $6.27. 1,465,673 shares of the company were exchanged, compared to its average volume of 987,640. The firm has a market capitalization of $436.62 million, a price-to-earnings ratio of -1.10 and a beta of 0.63. The business has a 50-day moving average price of $5.84 and a two-hundred day moving average price of $9.99. Phathom Pharmaceuticals, Inc. has a one year low of $4.07 and a one year high of $19.71.

Insider Buying and Selling at Phathom Pharmaceuticals

In other news, CFO Molly Henderson sold 6,583 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $43,381.97. Following the completion of the sale, the chief financial officer now owns 93,546 shares of the company's stock, valued at approximately $616,468.14. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Azmi Nabulsi sold 7,886 shares of the firm's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $51,968.74. Following the transaction, the chief operating officer now directly owns 233,390 shares in the company, valued at approximately $1,538,040.10. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,578 shares of company stock valued at $221,279 in the last three months. 24.10% of the stock is currently owned by company insiders.

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.