Raymond James Financial Inc. Purchases Shares of 455,837 Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Raymond James Financial Inc. acquired a new stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 455,837 shares of the company's stock, valued at approximately $3,701,000. Raymond James Financial Inc. owned about 0.67% of Phathom Pharmaceuticals as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PHAT. Versor Investments LP purchased a new position in Phathom Pharmaceuticals in the 4th quarter worth approximately $101,000. Los Angeles Capital Management LLC acquired a new stake in shares of Phathom Pharmaceuticals in the fourth quarter valued at approximately $171,000. Quest Partners LLC purchased a new position in Phathom Pharmaceuticals during the third quarter worth approximately $197,000. Intech Investment Management LLC acquired a new position in Phathom Pharmaceuticals during the third quarter worth $207,000. Finally, Keybank National Association OH grew its holdings in Phathom Pharmaceuticals by 41.4% in the 4th quarter. Keybank National Association OH now owns 25,512 shares of the company's stock valued at $207,000 after buying an additional 7,469 shares in the last quarter. Hedge funds and other institutional investors own 99.01% of the company's stock.

Insider Activity

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,583 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $43,381.97. Following the sale, the chief financial officer now directly owns 93,546 shares of the company's stock, valued at approximately $616,468.14. This represents a 6.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Azmi Nabulsi sold 7,886 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total transaction of $51,968.74. Following the completion of the sale, the chief operating officer now owns 233,390 shares in the company, valued at $1,538,040.10. The trade was a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,578 shares of company stock worth $221,279. 24.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PHAT has been the topic of several analyst reports. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Thursday, March 6th. The Goldman Sachs Group decreased their target price on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. Guggenheim set a $18.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Finally, HC Wainwright reiterated a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $22.17.

Phathom Pharmaceuticals Stock Performance

Shares of PHAT traded down $0.33 during midday trading on Monday, hitting $6.27. 1,465,673 shares of the stock were exchanged, compared to its average volume of 987,640. The firm has a market cap of $436.62 million, a P/E ratio of -1.10 and a beta of 0.63. Phathom Pharmaceuticals, Inc. has a 52-week low of $4.07 and a 52-week high of $19.71. The stock has a fifty day simple moving average of $5.84 and a 200 day simple moving average of $9.99.

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.