Propel Bio Management LLC Grows Stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Propel Bio Management LLC increased its holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 13.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 989,927 shares of the company's stock after purchasing an additional 120,000 shares during the quarter. Phathom Pharmaceuticals makes up approximately 8.0% of Propel Bio Management LLC's holdings, making the stock its 6th largest holding. Propel Bio Management LLC owned about 1.45% of Phathom Pharmaceuticals worth $8,038,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PHAT. KLP Kapitalforvaltning AS purchased a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $74,000. Teacher Retirement System of Texas purchased a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $90,000. Versor Investments LP purchased a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $101,000. Virtu Financial LLC purchased a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $109,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $125,000. 99.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Monday, April 21st. Craig Hallum reiterated a "buy" rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Guggenheim reiterated a "buy" rating on shares of Phathom Pharmaceuticals in a report on Wednesday, April 2nd. HC Wainwright restated a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Finally, The Goldman Sachs Group cut their price target on Phathom Pharmaceuticals from $12.00 to $10.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $21.83.

Phathom Pharmaceuticals Stock Performance

Shares of Phathom Pharmaceuticals stock traded up $0.04 during midday trading on Monday, hitting $4.15. The company had a trading volume of 841,970 shares, compared to its average volume of 1,025,336. The stock has a market capitalization of $288.99 million, a P/E ratio of -0.73 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. The company has a 50 day moving average of $5.11 and a 200 day moving average of $8.05.

About Phathom Pharmaceuticals

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.