Propel Bio Management LLC Boosts Position in Phathom Pharmaceuticals, Inc. $PHAT

Propel Bio Management LLC lifted its stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 34.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 740,918 shares of the company’s stock after buying an additional 187,991 shares during the quarter. Phathom Pharmaceuticals comprises 10.5% of Propel Bio Management LLC’s portfolio, making the stock its 3rd biggest holding. Propel Bio Management LLC owned 1.04% of Phathom Pharmaceuticals worth $12,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in shares of Phathom Pharmaceuticals by 442.6% in the third quarter. Jones Financial Companies Lllp now owns 2,523 shares of the company’s stock worth $30,000 after buying an additional 2,058 shares during the period. Raymond James Financial Inc. bought a new position in shares of Phathom Pharmaceuticals in the second quarter worth about $30,000. BNP Paribas Financial Markets raised its stake in shares of Phathom Pharmaceuticals by 71.9% in the second quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company’s stock worth $49,000 after buying an additional 2,122 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Phathom Pharmaceuticals by 58.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company’s stock worth $55,000 after buying an additional 2,102 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Phathom Pharmaceuticals by 132.5% in the third quarter. Russell Investments Group Ltd. now owns 6,362 shares of the company’s stock worth $75,000 after buying an additional 3,626 shares during the period. Institutional investors own 99.01% of the company’s stock.

Phathom Pharmaceuticals Trading Up 2.7%

Shares of Phathom Pharmaceuticals stock opened at $10.13 on Friday. The stock has a 50 day moving average of $11.60 and a 200 day moving average of $13.04. Phathom Pharmaceuticals, Inc. has a 12 month low of $4.71 and a 12 month high of $18.31. The firm has a market cap of $807.97 million, a PE ratio of -4.78 and a beta of 0.50.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays raised Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $16.00 to $18.00 in a research note on Friday, March 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Tuesday, April 21st. Stifel Nicolaus set a $28.00 target price on Phathom Pharmaceuticals in a research report on Thursday, February 26th. Finally, Guggenheim increased their target price on Phathom Pharmaceuticals from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Phathom Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $24.50.

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.