Marshall Wace LLP Invests $1.16 Million in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Marshall Wace LLP purchased a new stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 112,691 shares of the company's stock, valued at approximately $1,161,000. Marshall Wace LLP owned about 0.19% of Phathom Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PHAT. Medicxi Ventures Management Jersey Ltd grew its position in Phathom Pharmaceuticals by 98.5% during the first quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company's stock valued at $79,274,000 after acquiring an additional 3,703,703 shares during the last quarter. Jennison Associates LLC bought a new position in Phathom Pharmaceuticals during the first quarter valued at approximately $17,499,000. Catalys Pacific LLC bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth approximately $6,592,000. Propel Bio Management LLC grew its holdings in shares of Phathom Pharmaceuticals by 96.4% in the first quarter. Propel Bio Management LLC now owns 869,927 shares of the company's stock worth $9,239,000 after purchasing an additional 426,880 shares during the last quarter. Finally, Avidity Partners Management LP grew its holdings in shares of Phathom Pharmaceuticals by 6.4% in the fourth quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company's stock worth $15,718,000 after purchasing an additional 104,280 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors.

Phathom Pharmaceuticals Stock Performance

PHAT stock traded down $1.15 on Monday, reaching $16.10. The company's stock had a trading volume of 685,431 shares, compared to its average volume of 802,638. The business has a fifty day simple moving average of $15.33 and a two-hundred day simple moving average of $12.22. Phathom Pharmaceuticals, Inc. has a 12-month low of $6.07 and a 12-month high of $19.71. The firm has a market cap of $959.40 million, a PE ratio of -3.58 and a beta of 0.71.

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.35) EPS for the quarter, topping analysts' consensus estimates of ($1.39) by $0.04. The business had revenue of $7.32 million during the quarter, compared to analysts' expectations of $5.65 million. As a group, research analysts anticipate that Phathom Pharmaceuticals, Inc. will post -6.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PHAT. HC Wainwright restated a "buy" rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a 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 target price on shares of Phathom Pharmaceuticals in a report on Friday, September 13th.

Insider Buying and Selling

In related news, COO Azmi Nabulsi sold 10,901 shares of the firm's stock in a transaction on Monday, July 15th. The stock was sold at an average price of $11.72, for a total value of $127,759.72. Following the completion of the sale, the chief operating officer now owns 240,421 shares of the company's stock, valued at $2,817,734.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 33,848 shares of the firm's stock in a transaction on Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $396,698.56. Following the completion of the transaction, the insider now owns 377,734 shares of the company's stock, valued at approximately $4,427,042.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Azmi Nabulsi sold 10,901 shares of the firm's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $127,759.72. Following the transaction, the chief operating officer now directly owns 240,421 shares of the company's stock, valued at $2,817,734.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,074 shares of company stock valued at $575,147 over the last quarter. 24.10% of the stock is owned by company insiders.

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.