Creative Planning Has $278,000 Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Creative Planning cut its holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 16.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,951 shares of the company’s stock after selling 5,151 shares during the period. Creative Planning’s holdings in Phathom Pharmaceuticals were worth $278,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PHAT. Medicxi Ventures Management Jersey Ltd grew its holdings in Phathom Pharmaceuticals by 98.5% in the 1st quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock valued at $79,274,000 after buying an additional 3,703,703 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Phathom Pharmaceuticals in the first quarter valued at approximately $17,499,000. Propel Bio Management LLC grew its stake in shares of Phathom Pharmaceuticals by 96.4% in the first quarter. Propel Bio Management LLC now owns 869,927 shares of the company’s stock worth $9,239,000 after acquiring an additional 426,880 shares during the last quarter. Oracle Investment Management Inc. bought a new position in Phathom Pharmaceuticals during the second quarter worth $2,318,000. Finally, Marshall Wace LLP acquired a new position in Phathom Pharmaceuticals during the 2nd quarter valued at $1,161,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PHAT shares. HC Wainwright restated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Monday, August 12th. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, September 13th. Finally, The Goldman Sachs Group boosted their price target on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 9th.

Phathom Pharmaceuticals Stock Performance

Shares of Phathom Pharmaceuticals stock opened at $16.08 on Friday. Phathom Pharmaceuticals, Inc. has a twelve month low of $6.07 and a twelve month high of $19.71. The firm has a market cap of $958.21 million, a P/E ratio of -3.13 and a beta of 0.71. The firm’s 50-day simple moving average is $16.23 and its 200-day simple moving average is $12.57.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.04. The company had revenue of $7.32 million for the quarter, compared to analyst estimates of $5.65 million. On average, equities analysts forecast that Phathom Pharmaceuticals, Inc. will post -6.03 earnings per share for the current fiscal year.

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.