Point72 Asset Management L.P. Takes Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Point72 Asset Management L.P. purchased a new position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 439,816 shares of the company's stock, valued at approximately $7,952,000. Point72 Asset Management L.P. owned approximately 0.64% of Phathom Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC lifted its holdings in Phathom Pharmaceuticals by 112.7% in the third quarter. Jennison Associates LLC now owns 5,866,389 shares of the company's stock worth $106,064,000 after acquiring an additional 3,108,810 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Phathom Pharmaceuticals by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,979,113 shares of the company's stock worth $21,018,000 after purchasing an additional 22,684 shares during the period. Portolan Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 569,829 shares during the last quarter. Checkpoint Capital L.P. boosted its position in Phathom Pharmaceuticals by 71.9% during the 3rd quarter. Checkpoint Capital L.P. now owns 1,504,307 shares of the company's stock valued at $27,198,000 after purchasing an additional 629,307 shares during the period. Finally, FMR LLC grew its stake in Phathom Pharmaceuticals by 49,000.7% during the 3rd quarter. FMR LLC now owns 1,304,114 shares of the company's stock worth $23,578,000 after buying an additional 1,301,458 shares during the last quarter. 99.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PHAT. HC Wainwright reaffirmed a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Monday, August 12th. Needham & Company LLC restated a "buy" rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, September 13th.

Phathom Pharmaceuticals Trading Up 5.9 %

PHAT stock traded up $0.50 during trading on Friday, hitting $9.00. The company had a trading volume of 877,076 shares, compared to its average volume of 1,860,615. The business has a 50 day moving average of $13.80 and a 200 day moving average of $13.25. The firm has a market capitalization of $615.42 million, a price-to-earnings ratio of -1.58 and a beta of 0.56. Phathom Pharmaceuticals, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $19.71.

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.