Quest Partners LLC Acquires New Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Quest Partners LLC acquired a new stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,918 shares of the company’s stock, valued at approximately $197,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Phathom Pharmaceuticals by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,979,113 shares of the company’s stock valued at $21,018,000 after purchasing an additional 22,684 shares during the period. Oracle Investment Management Inc. acquired a new stake in shares of Phathom Pharmaceuticals during the 2nd quarter valued at approximately $2,318,000. Bank of New York Mellon Corp lifted its position in shares of Phathom Pharmaceuticals by 20.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 114,721 shares of the company’s stock valued at $1,182,000 after acquiring an additional 19,500 shares during the period. Marshall Wace LLP acquired a new stake in shares of Phathom Pharmaceuticals during the 2nd quarter valued at approximately $1,161,000. Finally, Rhumbline Advisers lifted its position in shares of Phathom Pharmaceuticals by 17.1% during the 2nd quarter. Rhumbline Advisers now owns 55,178 shares of the company’s stock valued at $568,000 after acquiring an additional 8,075 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Price Performance

Shares of PHAT opened at $8.97 on Thursday. The firm has a 50 day simple moving average of $15.06 and a 200-day simple moving average of $13.31. Phathom Pharmaceuticals, Inc. has a 1-year low of $6.07 and a 1-year high of $19.71. The stock has a market cap of $613.34 million, a price-to-earnings ratio of -1.58 and a beta of 0.72.

Wall Street Analyst Weigh In

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