Charles Schwab Investment Management Inc. Raises Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Charles Schwab Investment Management Inc. raised its holdings in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 20.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 353,038 shares of the company’s stock after buying an additional 60,178 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Phathom Pharmaceuticals were worth $2,867,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versor Investments LP purchased a new stake in Phathom Pharmaceuticals during the 4th quarter valued at about $101,000. Los Angeles Capital Management LLC bought a new stake in Phathom Pharmaceuticals in the fourth quarter valued at approximately $171,000. Bank of New York Mellon Corp boosted its stake in shares of Phathom Pharmaceuticals by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company’s stock valued at $834,000 after purchasing an additional 4,557 shares during the period. Rhumbline Advisers grew its holdings in shares of Phathom Pharmaceuticals by 10.0% in the fourth quarter. Rhumbline Advisers now owns 55,968 shares of the company’s stock worth $454,000 after purchasing an additional 5,110 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Phathom Pharmaceuticals by 20.4% in the fourth quarter. Jennison Associates LLC now owns 7,062,507 shares of the company’s stock worth $57,348,000 after purchasing an additional 1,196,118 shares during the last quarter. 99.01% of the stock is owned by institutional investors.

Phathom Pharmaceuticals Price Performance

Shares of PHAT opened at $6.69 on Friday. The company has a 50-day simple moving average of $5.86 and a two-hundred day simple moving average of $10.28. The firm has a market capitalization of $465.87 million, a PE ratio of -1.18 and a beta of 0.63. Phathom Pharmaceuticals, Inc. has a one year low of $4.07 and a one year high of $19.71.

Insider Transactions at Phathom Pharmaceuticals

In other news, COO Azmi Nabulsi sold 7,886 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total transaction of $51,968.74. Following the completion of the transaction, the chief operating officer now directly owns 233,390 shares in the company, valued at approximately $1,538,040.10. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Molly Henderson sold 6,583 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $43,381.97. Following the completion of the sale, the chief financial officer now owns 93,546 shares in the company, valued at $616,468.14. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,578 shares of company stock valued at $221,279. Corporate insiders own 24.10% of the company’s stock.

Analyst Ratings Changes

PHAT has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Thursday, March 6th. Craig Hallum reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Cantor Fitzgerald raised Phathom Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, February 25th. Guggenheim set a $18.00 price target on Phathom Pharmaceuticals in a research report on Friday, March 7th. Finally, The Goldman Sachs Group dropped their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating for the company in a report on Monday, March 10th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Phathom Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $22.17.

Phathom Pharmaceuticals 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.