Phathom Pharmaceuticals, Inc. $PHAT Shares Acquired by SummitTX Capital L.P.

SummitTX Capital L.P. lifted its stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 92.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 995,885 shares of the company’s stock after purchasing an additional 478,065 shares during the quarter. SummitTX Capital L.P.’s holdings in Phathom Pharmaceuticals were worth $11,064,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Millennium Management LLC boosted its stake in Phathom Pharmaceuticals by 125.8% in the 3rd quarter. Millennium Management LLC now owns 5,081,451 shares of the company’s stock worth $59,809,000 after buying an additional 2,830,954 shares during the last quarter. Invesco Ltd. lifted its position in Phathom Pharmaceuticals by 13.4% during the second quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock valued at $39,703,000 after buying an additional 489,260 shares in the last quarter. Vanguard Group Inc. boosted its position in Phathom Pharmaceuticals by 15.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,215,572 shares of the company’s stock worth $37,847,000 after purchasing an additional 428,261 shares during the period. Wasatch Advisors LP increased its holdings in Phathom Pharmaceuticals by 5.2% in the 3rd quarter. Wasatch Advisors LP now owns 1,537,218 shares of the company’s stock valued at $18,093,000 after purchasing an additional 75,323 shares in the last quarter. Finally, Catalys Pacific LLC lifted its stake in shares of Phathom Pharmaceuticals by 22.4% during the fourth quarter. Catalys Pacific LLC now owns 1,429,014 shares of the company’s stock worth $23,707,000 after purchasing an additional 261,900 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Price Performance

Shares of Phathom Pharmaceuticals stock opened at $11.44 on Monday. The business has a 50-day moving average price of $10.86 and a 200 day moving average price of $11.87. Phathom Pharmaceuticals, Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $18.31. The firm has a market cap of $912.45 million, a P/E ratio of -5.40 and a beta of 0.49.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Friday, July 17th. HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Phathom Pharmaceuticals Company Profile

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.