Ensign Peak Advisors Inc Decreases Stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Ensign Peak Advisors Inc lessened its holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,244,828 shares of the company’s stock after selling 35,172 shares during the period. Ensign Peak Advisors Inc’s holdings in Phathom Pharmaceuticals were worth $23,122,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Inspirion Wealth Advisors LLC boosted its holdings in shares of Phathom Pharmaceuticals by 4.3% in the 2nd quarter. Inspirion Wealth Advisors LLC now owns 36,634 shares of the company’s stock worth $377,000 after buying an additional 1,500 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Phathom Pharmaceuticals by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,573 shares of the company’s stock valued at $208,000 after acquiring an additional 2,172 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Phathom Pharmaceuticals by 42.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock valued at $104,000 after purchasing an additional 2,987 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Phathom Pharmaceuticals by 65.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 10,989 shares of the company’s stock worth $117,000 after buying an additional 4,363 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Phathom Pharmaceuticals by 17.1% in the second quarter. Rhumbline Advisers now owns 55,178 shares of the company’s stock valued at $568,000 after buying an additional 8,075 shares during the period. 99.01% of the stock is owned by institutional investors.

Phathom Pharmaceuticals Stock Down 1.5 %

Shares of PHAT opened at $18.43 on Monday. The business’s 50-day moving average price is $14.18 and its 200-day moving average price is $11.58. Phathom Pharmaceuticals, Inc. has a twelve month low of $6.07 and a twelve month high of $19.71. The stock has a market cap of $1.10 billion, a PE ratio of -4.18 and a beta of 0.71.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its earnings results on Thursday, August 8th. The company reported ($1.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.39) by $0.04. The firm had revenue of $7.32 million during the quarter, compared to analysts’ expectations of $5.65 million. Analysts expect that Phathom Pharmaceuticals, Inc. will post -6.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 4,325 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $50,689.00. Following the completion of the sale, the chief financial officer now directly owns 99,447 shares in the company, valued at $1,165,518.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Terrie Curran sold 33,848 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $11.72, for a total value of $396,698.56. Following the completion of the sale, the insider now owns 377,734 shares in the company, valued at approximately $4,427,042.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Molly Henderson sold 4,325 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $50,689.00. Following the transaction, the chief financial officer now owns 99,447 shares in the company, valued at $1,165,518.84. The disclosure for this sale can be found here. Insiders have sold 49,074 shares of company stock worth $575,147 in the last ninety days. 24.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

PHAT has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Monday, August 12th. The Goldman Sachs Group lifted their target price on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, September 13th.

About Phathom Pharmaceuticals

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.