Geode Capital Management LLC Purchases 155,577 Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Geode Capital Management LLC grew its stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 18.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,018,495 shares of the company's stock after buying an additional 155,577 shares during the quarter. Geode Capital Management LLC owned 1.49% of Phathom Pharmaceuticals worth $8,272,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. State Street Corp grew its position in shares of Phathom Pharmaceuticals by 17.5% in the 3rd quarter. State Street Corp now owns 922,788 shares of the company's stock valued at $16,684,000 after acquiring an additional 137,539 shares during the period. Barclays PLC grew its position 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 acquiring an additional 45,402 shares during the period. Kera Capital Partners Inc. bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at about $218,000. Jennison Associates LLC grew its position in shares of Phathom Pharmaceuticals by 20.4% in the 4th quarter. Jennison Associates LLC now owns 7,062,507 shares of the company's stock valued at $57,348,000 after acquiring an additional 1,196,118 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Phathom Pharmaceuticals by 10.0% in the 4th quarter. Rhumbline Advisers now owns 55,968 shares of the company's stock valued at $454,000 after acquiring an additional 5,110 shares during the period. Institutional investors own 99.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PHAT shares. 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. Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, February 25th. Craig Hallum reiterated 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 price objective on shares of Phathom Pharmaceuticals in a research report on Monday, April 21st. Finally, The Goldman Sachs Group lowered their price target on shares of Phathom Pharmaceuticals from $12.00 to $10.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Phathom Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $21.83.

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ PHAT traded down $0.07 during trading on Tuesday, reaching $4.08. 94,002 shares of the stock traded hands, compared to its average volume of 1,021,814. The company has a 50-day moving average of $5.11 and a 200-day moving average of $8.05. The stock has a market capitalization of $284.16 million, a P/E ratio of -0.72 and a beta of 0.35. Phathom Pharmaceuticals, Inc. has a 52-week low of $3.81 and a 52-week high of $19.71.

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.