State Street Corp Increases Stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

State Street Corp grew its holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 17.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 922,788 shares of the company's stock after acquiring an additional 137,539 shares during the period. State Street Corp owned 1.35% of Phathom Pharmaceuticals worth $16,684,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Jennison Associates LLC raised its holdings in shares of Phathom Pharmaceuticals by 112.7% during the 3rd 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 in the last quarter. FMR LLC lifted its stake in Phathom Pharmaceuticals by 49,000.7% in the third quarter. FMR LLC now owns 1,304,114 shares of the company's stock worth $23,578,000 after purchasing an additional 1,301,458 shares during the last quarter. Checkpoint Capital L.P. boosted its position in shares of Phathom Pharmaceuticals by 71.9% during the third 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 during the period. Portolan Capital Management LLC boosted its position in shares of Phathom Pharmaceuticals by 50.4% during the third quarter. Portolan Capital Management LLC now owns 1,699,918 shares of the company's stock valued at $30,735,000 after buying an additional 569,829 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Phathom Pharmaceuticals in the third quarter worth approximately $7,952,000. Hedge funds and other institutional investors own 99.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Needham & Company LLC restated a "buy" rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Wednesday, December 11th. HC Wainwright restated a "buy" rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th.

Insider Transactions at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, Director Frank Karbe purchased 12,500 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $7.93 per share, for a total transaction of $99,125.00. Following the acquisition, the director now owns 57,000 shares in the company, valued at $452,010. This represents a 28.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 24.10% of the company's stock.

Phathom Pharmaceuticals Price Performance

NASDAQ PHAT traded down $0.11 on Wednesday, hitting $7.50. The stock had a trading volume of 401,705 shares, compared to its average volume of 920,607. The business's fifty day moving average price is $11.80 and its 200 day moving average price is $13.07. Phathom Pharmaceuticals, Inc. has a 52-week low of $6.07 and a 52-week high of $19.71. The stock has a market cap of $512.83 million, a price-to-earnings ratio of -1.32 and a beta of 0.57.

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.