683 Capital Management LLC Acquires 15,000 Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

683 Capital Management LLC lifted its stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 1.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,025,000 shares of the company’s stock after acquiring an additional 15,000 shares during the period. 683 Capital Management LLC owned 1.50% of Phathom Pharmaceuticals worth $8,323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PHAT. Bank of New York Mellon Corp grew its stake in shares of Phathom Pharmaceuticals by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company’s stock valued at $834,000 after buying an additional 4,557 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Phathom Pharmaceuticals by 21.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,641 shares of the company’s stock worth $209,000 after buying an additional 4,592 shares during the last quarter. Rhumbline Advisers increased its position in shares of Phathom Pharmaceuticals by 10.0% during the fourth quarter. Rhumbline Advisers now owns 55,968 shares of the company’s stock worth $454,000 after acquiring an additional 5,110 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Phathom Pharmaceuticals by 28.0% in the 4th quarter. MetLife Investment Management LLC now owns 24,366 shares of the company’s stock worth $198,000 after acquiring an additional 5,337 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Phathom Pharmaceuticals by 41.3% in the 4th quarter. Wells Fargo & Company MN now owns 25,516 shares of the company’s stock valued at $207,000 after acquiring an additional 7,462 shares in the last quarter. 99.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. Guggenheim restated a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, April 2nd. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. The Goldman Sachs Group reduced their price objective on Phathom Pharmaceuticals from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Monday, April 21st. One investment 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.com, Phathom Pharmaceuticals has an average rating of “Buy” and an average price target of $21.83.

Phathom Pharmaceuticals Stock Down 21.7 %

NASDAQ PHAT opened at $3.36 on Friday. The firm has a market cap of $234.02 million, a P/E ratio of -0.59 and a beta of 0.35. The company’s 50 day moving average is $5.02 and its 200-day moving average is $7.91. Phathom Pharmaceuticals, Inc. has a 12-month low of $3.07 and a 12-month high of $19.71.

About Phathom Pharmaceuticals

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.