Phathom Pharmaceuticals, Inc. $PHAT Shares Purchased by Profund Advisors LLC

Profund Advisors LLC grew its position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 602.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,331 shares of the company’s stock after acquiring an additional 104,054 shares during the period. Profund Advisors LLC owned about 0.15% of Phathom Pharmaceuticals worth $886,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in shares of Phathom Pharmaceuticals by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 124,018 shares of the company’s stock valued at $1,378,000 after purchasing an additional 1,051 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Phathom Pharmaceuticals by 16.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 14,761 shares of the company’s stock worth $109,000 after purchasing an additional 2,068 shares during the period. Kera Capital Partners Inc. increased its position in Phathom Pharmaceuticals by 10.6% during the first quarter. Kera Capital Partners Inc. now owns 26,826 shares of the company’s stock worth $298,000 after buying an additional 2,571 shares during the last quarter. Summit Securities Group LLC acquired a new position in Phathom Pharmaceuticals during the first quarter worth approximately $34,000. Finally, State of Alaska Department of Revenue bought a new stake in Phathom Pharmaceuticals in the third quarter valued at approximately $25,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PHAT shares. Craig Hallum reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Phathom Pharmaceuticals in a research report on Wednesday, October 21st. Guggenheim decreased their target price on Phathom Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Leerink Partners began coverage on Phathom Pharmaceuticals in a research note on Wednesday, September 9th. They issued a “market perform” rating and a $10.00 price target on the stock. Barclays cut their price target on Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 14th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.11.

Phathom Pharmaceuticals Trading Down 2.9%

Phathom Pharmaceuticals stock opened at $5.74 on Wednesday. The company has a market capitalization of $466.60 million, a price-to-earnings ratio of -5.57 and a beta of 0.69. Phathom Pharmaceuticals, Inc. has a 12 month low of $5.01 and a 12 month high of $18.31. The stock’s 50 day moving average is $7.52 and its 200-day moving average is $10.38.

Phathom Pharmaceuticals Profile

Phathom Pharmaceuticals, Inc (NASDAQ: PHAT) is a biopharmaceutical company focused on developing and commercializing treatments for gastrointestinal diseases. The company’s principal product is Voquezna (vonoprazan), a potassium-competitive acid blocker designed to suppress stomach acid through a mechanism distinct from traditional proton pump inhibitors.

In the United States, Voquezna is approved for the treatment of Helicobacter pylori infection in combination with antibiotics and for certain forms of gastroesophageal reflux disease (GERD), including erosive esophagitis and heartburn associated with non-erosive GERD.