Simplify Asset Management Inc. Has $4.73 Million Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Simplify Asset Management Inc. boosted its stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 581,935 shares of the company's stock after buying an additional 60,000 shares during the period. Phathom Pharmaceuticals accounts for approximately 0.2% of Simplify Asset Management Inc.'s investment portfolio, making the stock its 25th largest holding. Simplify Asset Management Inc. owned 0.85% of Phathom Pharmaceuticals worth $4,725,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PHAT. KLP Kapitalforvaltning AS acquired a new stake in shares of Phathom Pharmaceuticals in the fourth quarter valued at approximately $74,000. Virtu Financial LLC bought a new position in Phathom Pharmaceuticals in the 4th quarter valued at about $109,000. Teacher Retirement System of Texas acquired a new position in Phathom Pharmaceuticals during the 4th quarter valued at about $90,000. Commonwealth Equity Services LLC lifted its position in Phathom Pharmaceuticals by 387.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 50,772 shares of the company's stock worth $412,000 after purchasing an additional 40,362 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Phathom Pharmaceuticals during the 4th quarter valued at $3,701,000. 99.01% of the stock is currently owned by institutional investors.

Insider Activity at Phathom Pharmaceuticals

In related news, COO Azmi Nabulsi sold 7,886 shares of the firm's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 233,390 shares of the company's stock, valued at approximately $1,538,040.10. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Molly Henderson sold 6,583 shares of Phathom Pharmaceuticals stock in a transaction that occurred on 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 of the company's stock, valued at $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 three months, insiders have sold 33,578 shares of company stock valued at $221,279. Corporate insiders own 24.10% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PHAT. The Goldman Sachs Group cut their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Needham & Company LLC restated a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Thursday, March 6th. Guggenheim set a $18.00 price objective on Phathom Pharmaceuticals in a report on Friday, March 7th. Craig Hallum reiterated a "buy" rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Finally, HC Wainwright restated a "buy" rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. One investment 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. According to MarketBeat, Phathom Pharmaceuticals currently has a consensus rating of "Buy" and an average target price of $22.17.

Phathom Pharmaceuticals Trading Up 4.2 %

NASDAQ PHAT traded up $0.27 during trading on Thursday, reaching $6.69. 679,819 shares of the company's stock were exchanged, compared to its average volume of 966,197. The firm has a market capitalization of $465.87 million, a PE ratio of -1.18 and a beta of 0.63. Phathom Pharmaceuticals, Inc. has a fifty-two week low of $4.07 and a fifty-two week high of $19.71. The company's fifty day simple moving average is $5.86 and its 200-day simple moving average is $10.28.

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.