Eagle Asset Management Inc. grew its stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 25.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 455,196 shares of the company's stock after purchasing an additional 93,733 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.76% of Phathom Pharmaceuticals worth $7,675,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in Phathom Pharmaceuticals by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 292,860 shares of the company's stock valued at $5,295,000 after buying an additional 6,990 shares during the period. Intech Investment Management LLC bought a new position in Phathom Pharmaceuticals during the 3rd quarter worth about $207,000. Jennison Associates LLC increased its holdings in Phathom Pharmaceuticals by 112.7% during the third quarter. Jennison Associates LLC now owns 5,866,389 shares of the company's stock valued at $106,064,000 after buying an additional 3,108,810 shares during the period. Quest Partners LLC bought a new position in shares of Phathom Pharmaceuticals in the 3rd quarter worth $197,000. Finally, Huntington National Bank lifted its position in Phathom Pharmaceuticals by 62.2% during the third quarter. Huntington National Bank now owns 1,471 shares of the company's stock valued at $27,000 after acquiring an additional 564 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently commented on PHAT shares. HC Wainwright reaffirmed a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Monday, August 12th. The Goldman Sachs Group raised their target price on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a "neutral" rating in a report on Friday, August 9th. Finally, Needham & Company LLC restated a "buy" rating and issued a $26.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, September 13th.
Read Our Latest Research Report on PHAT
Phathom Pharmaceuticals Stock Down 2.7 %
Shares of PHAT traded down $0.25 during midday trading on Monday, reaching $9.09. The company had a trading volume of 1,335,764 shares, compared to its average volume of 915,154. The firm has a 50 day simple moving average of $15.65 and a 200-day simple moving average of $13.35. Phathom Pharmaceuticals, Inc. has a 1-year low of $6.07 and a 1-year high of $19.71.
About Phathom Pharmaceuticals
(
Free Report)
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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