Hsbc Holdings PLC Makes New Investment in Phathom Pharmaceuticals, Inc. $PHAT

Hsbc Holdings PLC purchased a new position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) during the 2nd quarter, HoldingsChannel reports. The fund purchased 709,695 shares of the company’s stock, valued at approximately $7,702,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PHAT. Caitong International Asset Management Co. Ltd purchased a new stake in Phathom Pharmaceuticals during the 4th quarter valued at about $27,000. Kestra Advisory Services LLC purchased a new position in Phathom Pharmaceuticals in the 4th quarter worth approximately $38,000. Summit Securities Group LLC acquired a new position in shares of Phathom Pharmaceuticals during the 1st quarter worth approximately $34,000. Raymond James Financial Inc. acquired a new position in shares of Phathom Pharmaceuticals during the 2nd quarter worth approximately $30,000. Finally, State of Wyoming purchased a new stake in shares of Phathom Pharmaceuticals in the first quarter valued at approximately $55,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Phathom Pharmaceuticals Trading Down 8.1%

NASDAQ PHAT opened at $8.67 on Thursday. The stock has a market cap of $701.40 million, a PE ratio of -6.77 and a beta of 0.51. Phathom Pharmaceuticals, Inc. has a twelve month low of $8.21 and a twelve month high of $18.31. The stock has a fifty day simple moving average of $9.97 and a 200-day simple moving average of $10.81.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Craig Hallum reaffirmed a “buy” rating and issued a $20.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, July 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a report on Friday, July 31st. Leerink Partners assumed coverage on Phathom Pharmaceuticals in a research note on Wednesday. They issued a “market perform” rating and a $10.00 target price for the company. Finally, Needham & Company LLC reduced their price target on Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Phathom Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $21.25.

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.