Prudential Financial Inc. Purchases 48,000 Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Prudential Financial Inc. increased its holdings in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 11.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 463,340 shares of the company’s stock after acquiring an additional 48,000 shares during the period. Prudential Financial Inc. owned about 0.68% of Phathom Pharmaceuticals worth $3,762,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of PHAT. Vanguard Group Inc. boosted its stake in Phathom Pharmaceuticals by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 2,779,561 shares of the company’s stock worth $22,570,000 after purchasing an additional 83,238 shares in the last quarter. Simplify Asset Management Inc. raised its holdings in shares of Phathom Pharmaceuticals by 11.5% in the fourth quarter. Simplify Asset Management Inc. now owns 581,935 shares of the company’s stock valued at $4,725,000 after buying an additional 60,000 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Phathom Pharmaceuticals during the 4th quarter worth about $74,000. Virtu Financial LLC bought a new stake in Phathom Pharmaceuticals during the 4th quarter worth about $109,000. Finally, Teacher Retirement System of Texas acquired a new stake in Phathom Pharmaceuticals in the 4th quarter valued at about $90,000. 99.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PHAT has been the topic of a number of research reports. Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group reduced their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Guggenheim set a $18.00 target price on Phathom Pharmaceuticals in a research note on Friday, March 7th. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Phathom Pharmaceuticals currently has an average rating of “Buy” and an average target price of $22.17.

Phathom Pharmaceuticals Trading Down 18.3 %

NASDAQ:PHAT opened at $5.12 on Wednesday. Phathom Pharmaceuticals, Inc. has a 1-year low of $4.07 and a 1-year high of $19.71. The firm has a market capitalization of $356.54 million, a price-to-earnings ratio of -0.90 and a beta of 0.63. The business’s 50-day moving average price is $5.80 and its two-hundred day moving average price is $9.90.

Insider Activity at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, COO Azmi Nabulsi sold 7,886 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $51,968.74. Following the sale, the chief operating officer now directly owns 233,390 shares in the company, valued at approximately $1,538,040.10. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Terrie Curran sold 19,109 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total transaction of $125,928.31. Following the completion of the transaction, the insider now directly owns 360,465 shares of the company’s stock, valued at $2,375,464.35. This trade represents a 5.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,578 shares of company stock worth $221,279 in the last ninety days. Company insiders own 24.10% of the company’s stock.

Phathom Pharmaceuticals Profile

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.