Stonepine Capital Management LLC Invests $922,358 in Phathom Pharmaceuticals, Inc. $PHAT

Stonepine Capital Management LLC acquired a new stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 85,010 shares of the company’s stock, valued at approximately $922,358. Stonepine Capital Management LLC owned approximately 0.11% of Phathom Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC lifted its position in Phathom Pharmaceuticals by 508.2% in the 1st quarter. AQR Capital Management LLC now owns 107,399 shares of the company’s stock worth $673,000 after buying an additional 89,741 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Phathom Pharmaceuticals by 0.8% in the second quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company’s stock valued at $1,328,000 after purchasing an additional 1,123 shares during the period. Rhumbline Advisers boosted its stake in shares of Phathom Pharmaceuticals by 13.8% in the second quarter. Rhumbline Advisers now owns 64,557 shares of the company’s stock valued at $619,000 after purchasing an additional 7,818 shares during the period. Invesco Ltd. raised its stake in Phathom Pharmaceuticals by 13.4% during the 2nd quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock valued at $39,703,000 after acquiring an additional 489,260 shares during the last quarter. Finally, Nebula Research & Development LLC grew its holdings in shares of Phathom Pharmaceuticals by 31.6% during the second quarter. Nebula Research & Development LLC now owns 37,937 shares of the company’s stock worth $364,000 after buying an additional 9,116 shares in the last quarter. 99.01% of the stock is owned by institutional investors.

Phathom Pharmaceuticals Price Performance

NASDAQ:PHAT traded up $0.24 during trading hours on Friday, reaching $9.18. 894,401 shares of the company were exchanged, compared to its average volume of 1,240,781. Phathom Pharmaceuticals, Inc. has a 1-year low of $8.21 and a 1-year high of $18.31. The business has a 50 day moving average of $10.22 and a 200 day moving average of $11.00. The company has a market capitalization of $742.66 million, a P/E ratio of -7.17 and a beta of 0.51.

Analyst Upgrades and Downgrades

PHAT has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, July 31st. Needham & Company LLC lowered their price target on shares of Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Barclays lowered their price objective on Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, August 14th. Guggenheim reduced their price objective on Phathom Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.86.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company’s core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom’s research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company’s lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.