Trexquant Investment LP Invests $3.08 Million in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Trexquant Investment LP bought a new stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 378,637 shares of the company's stock, valued at approximately $3,075,000. Trexquant Investment LP owned approximately 0.55% of Phathom Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PHAT. FMR LLC increased its holdings in shares of Phathom Pharmaceuticals by 49,000.7% during the third quarter. FMR LLC now owns 1,304,114 shares of the company's stock valued at $23,578,000 after acquiring an additional 1,301,458 shares in the last quarter. Jennison Associates LLC increased its stake in Phathom Pharmaceuticals by 20.4% during the 4th quarter. Jennison Associates LLC now owns 7,062,507 shares of the company's stock valued at $57,348,000 after purchasing an additional 1,196,118 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Phathom Pharmaceuticals during the 4th quarter valued at $3,701,000. Point72 Asset Management L.P. acquired a new position in Phathom Pharmaceuticals during the third quarter worth $7,952,000. Finally, Geode Capital Management LLC lifted its stake in shares of Phathom Pharmaceuticals by 18.0% in the fourth quarter. Geode Capital Management LLC now owns 1,018,495 shares of the company's stock valued at $8,272,000 after buying an additional 155,577 shares in the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,583 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $43,381.97. Following the transaction, the chief financial officer now directly owns 93,546 shares in the company, valued at $616,468.14. The trade was a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Azmi Nabulsi sold 7,886 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 transaction of $51,968.74. Following the transaction, the chief operating officer now directly owns 233,390 shares of the company's stock, valued at $1,538,040.10. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,256 shares of company stock worth $238,014 in the last quarter. 24.10% of the stock is currently owned by company insiders.

Phathom Pharmaceuticals Trading Up 18.7 %

Shares of PHAT traded up $0.77 on Friday, reaching $4.88. 1,258,108 shares of the company's stock traded hands, compared to its average volume of 1,006,250. The stock's 50 day simple moving average is $5.45 and its two-hundred day simple moving average is $9.07. The stock has a market cap of $339.83 million, a PE ratio of -0.86 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.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PHAT. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research report on Tuesday, February 25th. Guggenheim reissued a "buy" rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, April 2nd. Needham & Company LLC restated a "buy" rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Wednesday. Craig Hallum reiterated a "buy" rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Finally, HC Wainwright reissued a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $22.17.

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.