Next Century Growth Investors LLC Acquires Shares of 393,774 Phathom Pharmaceuticals, Inc. $PHAT

Next Century Growth Investors LLC acquired a new stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) in the fourth quarter, HoldingsChannel reports. The fund acquired 393,774 shares of the company’s stock, valued at approximately $6,533,000.

A number of other hedge funds have also recently bought and sold shares of PHAT. Caitong International Asset Management Co. Ltd acquired a new stake in Phathom Pharmaceuticals during the 4th quarter valued at approximately $27,000. Jones Financial Companies Lllp grew its stake in Phathom Pharmaceuticals by 442.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,523 shares of the company’s stock valued at $30,000 after purchasing an additional 2,058 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Phathom Pharmaceuticals during the 2nd quarter valued at approximately $30,000. Kestra Advisory Services LLC acquired a new stake in Phathom Pharmaceuticals during the 4th quarter valued at approximately $38,000. Finally, BNP Paribas Financial Markets grew its stake in Phathom Pharmaceuticals by 71.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company’s stock valued at $49,000 after purchasing an additional 2,122 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Stock Performance

Shares of NASDAQ PHAT opened at $10.37 on Monday. The stock’s 50 day simple moving average is $11.52 and its 200 day simple moving average is $12.86. The company has a market cap of $827.11 million, a price-to-earnings ratio of -4.89 and a beta of 0.51. Phathom Pharmaceuticals, Inc. has a 12-month low of $7.61 and a 12-month high of $18.31.

Analyst Ratings Changes

Several brokerages have recently commented on PHAT. Guggenheim lifted their target price on Phathom Pharmaceuticals from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Barclays upgraded Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $16.00 to $18.00 in a research report on Friday, March 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Tuesday, April 21st. Finally, Stifel Nicolaus set a $28.00 price target on Phathom Pharmaceuticals in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company’s core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom’s research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company’s lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.