Wasatch Advisors LP Has $12.66 Million Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Wasatch Advisors LP increased its holdings in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) by 531.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,558,928 shares of the company's stock after buying an additional 1,311,986 shares during the period. Wasatch Advisors LP owned 2.28% of Phathom Pharmaceuticals worth $12,658,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $74,000. Teacher Retirement System of Texas bought a new stake in shares of Phathom Pharmaceuticals in the 4th quarter valued at $90,000. Versor Investments LP bought a new position in Phathom Pharmaceuticals during the fourth quarter worth about $101,000. Virtu Financial LLC acquired a new stake in Phathom Pharmaceuticals during the 4th quarter worth approximately $109,000. Finally, Capula Management Ltd bought a new stake in shares of Phathom Pharmaceuticals during the fourth quarter worth $131,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PHAT. HC Wainwright reaffirmed a "buy" rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Monday. Guggenheim reaffirmed a "buy" rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, April 2nd. Craig Hallum reissued a "buy" rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Finally, Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. 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. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $21.83.

Phathom Pharmaceuticals Price Performance

PHAT stock traded up $0.13 during trading hours on Tuesday, reaching $4.03. The stock had a trading volume of 177,054 shares, compared to its average volume of 1,012,736. The stock has a market capitalization of $280.64 million, a PE ratio of -0.70 and a beta of 0.35. The stock has a 50-day simple moving average of $5.27 and a 200 day simple moving average of $8.46. Phathom Pharmaceuticals, Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $19.71.

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.