Cubist Systematic Strategies LLC Buys New Shares in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Cubist Systematic Strategies LLC bought a new stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) during the 4th quarter, HoldingsChannel.com reports. The fund bought 282,553 shares of the company’s stock, valued at approximately $2,294,000.

Other hedge funds have also recently made changes to their positions in 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 acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $90,000. Versor Investments LP acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $101,000. Virtu Financial LLC acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $109,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $121,000. 99.01% of the stock is owned by institutional investors and hedge funds.

Phathom Pharmaceuticals Stock Up 37.1%

PHAT stock opened at $3.14 on Monday. The company’s 50-day simple moving average is $4.66 and its 200-day simple moving average is $7.23. Phathom Pharmaceuticals, Inc. has a 52-week low of $2.21 and a 52-week high of $19.71. The firm has a market cap of $219.22 million, a P/E ratio of -0.55 and a beta of 0.15.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PHAT shares. Guggenheim cut their target price on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Cantor Fitzgerald raised Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. HC Wainwright cut their price target on Phathom Pharmaceuticals from $28.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Monday, April 21st. Finally, Craig Hallum reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $17.60.

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.