Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Shares Bought by Jennison Associates LLC

Jennison Associates LLC increased its holdings in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 20.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,062,507 shares of the company's stock after acquiring an additional 1,196,118 shares during the period. Jennison Associates LLC owned approximately 10.33% of Phathom Pharmaceuticals worth $57,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its holdings in Phathom Pharmaceuticals by 49,000.7% during the third quarter. FMR LLC now owns 1,304,114 shares of the company's stock valued at $23,578,000 after purchasing an additional 1,301,458 shares in the last quarter. Checkpoint Capital L.P. lifted its stake in Phathom Pharmaceuticals by 71.9% in the 3rd quarter. Checkpoint Capital L.P. now owns 1,504,307 shares of the company's stock valued at $27,198,000 after buying an additional 629,307 shares in the last quarter. Portolan Capital Management LLC boosted its holdings in Phathom Pharmaceuticals by 50.4% in the 3rd quarter. Portolan Capital Management LLC now owns 1,699,918 shares of the company's stock worth $30,735,000 after buying an additional 569,829 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Phathom Pharmaceuticals during the 3rd quarter worth approximately $7,952,000. Finally, Wasatch Advisors LP acquired a new position in shares of Phathom Pharmaceuticals during the third quarter valued at approximately $4,465,000. Hedge funds and other institutional investors own 99.01% of the company's stock.

Insider Activity at Phathom Pharmaceuticals

In other news, insider Terrie Curran sold 19,109 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $125,928.31. Following the completion of the transaction, the insider now directly owns 360,465 shares in the company, valued at approximately $2,375,464.35. This represents a 5.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $43,381.97. Following the completion of the sale, the chief financial officer now owns 93,546 shares in the company, valued at approximately $616,468.14. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,987 shares of company stock valued at $240,551. 24.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PHAT has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, January 10th. HC Wainwright restated a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Thursday, December 12th.

Phathom Pharmaceuticals Stock Down 3.2 %

Shares of Phathom Pharmaceuticals stock traded down $0.19 on Friday, hitting $5.71. 1,011,421 shares of the company were exchanged, compared to its average volume of 1,032,881. Phathom Pharmaceuticals, Inc. has a 1-year low of $5.42 and a 1-year high of $19.71. The stock has a market capitalization of $390.43 million, a price-to-earnings ratio of -1.00 and a beta of 0.54. The company has a 50-day moving average price of $7.48 and a 200 day moving average price of $12.14.

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($1.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.57) by $0.25. The company had revenue of $16.35 million during the quarter, compared to analysts' expectations of $12.54 million. During the same quarter in the previous year, the company earned ($0.76) earnings per share. Research analysts forecast that Phathom Pharmaceuticals, Inc. will post -4.74 EPS for the current year.

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.