Jennison Associates LLC raised its holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 112.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,866,389 shares of the company's stock after acquiring an additional 3,108,810 shares during the period. Jennison Associates LLC owned 9.84% of Phathom Pharmaceuticals worth $106,064,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Oracle Investment Management Inc. acquired a new position in Phathom Pharmaceuticals in the second quarter valued at $2,318,000. Vanguard Group Inc. grew its holdings in Phathom Pharmaceuticals by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,979,113 shares of the company's stock valued at $21,018,000 after buying an additional 22,684 shares during the period. Marshall Wace LLP acquired a new position in shares of Phathom Pharmaceuticals during the 2nd quarter valued at about $1,161,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Phathom Pharmaceuticals during the 1st quarter worth about $119,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Phathom Pharmaceuticals by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,573 shares of the company's stock worth $208,000 after acquiring an additional 2,172 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently commented on PHAT shares. Needham & Company LLC reaffirmed a "buy" rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, September 13th. The Goldman Sachs Group boosted their price objective on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Friday, August 9th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Monday, August 12th.
View Our Latest Analysis on PHAT
Phathom Pharmaceuticals Stock Performance
PHAT stock opened at $8.73 on Thursday. The firm has a market cap of $596.96 million, a P/E ratio of -1.53 and a beta of 0.72. Phathom Pharmaceuticals, Inc. has a 1 year low of $6.07 and a 1 year high of $19.71. The stock has a 50-day simple moving average of $16.03 and a 200-day simple moving average of $13.34.
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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