Wellington Management Group LLP Has $3.14 Million Stock Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Wellington Management Group LLP cut its stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 23.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,383 shares of the company’s stock after selling 53,258 shares during the period. Wellington Management Group LLP owned 0.25% of Phathom Pharmaceuticals worth $3,135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PHAT. Huntington National Bank lifted its position in shares of Phathom Pharmaceuticals by 62.2% in the 3rd quarter. Huntington National Bank now owns 1,471 shares of the company’s stock worth $27,000 after purchasing an additional 564 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Phathom Pharmaceuticals by 41.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock worth $43,000 after buying an additional 722 shares during the last quarter. US Bancorp DE lifted its holdings in Phathom Pharmaceuticals by 28.6% in the third quarter. US Bancorp DE now owns 5,248 shares of the company’s stock valued at $95,000 after buying an additional 1,166 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Phathom Pharmaceuticals by 10.6% in the second quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock valued at $144,000 after buying an additional 1,339 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Phathom Pharmaceuticals by 42.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock worth $104,000 after acquiring an additional 2,987 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Stock Performance

Shares of NASDAQ:PHAT opened at $8.37 on Wednesday. Phathom Pharmaceuticals, Inc. has a 52-week low of $6.07 and a 52-week high of $19.71. The business’s 50 day simple moving average is $12.58 and its two-hundred day simple moving average is $13.16. The firm has a market cap of $572.32 million, a P/E ratio of -1.47 and a beta of 0.56.

Analyst Ratings Changes

PHAT has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Wednesday, December 11th.

Insider Buying and Selling

In other Phathom Pharmaceuticals news, Director Frank Karbe bought 12,500 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $7.93 per share, with a total value of $99,125.00. Following the completion of the transaction, the director now directly owns 57,000 shares in the company, valued at approximately $452,010. The trade was a 28.09 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 24.10% of the stock is owned by company insiders.

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.