Aristides Capital LLC Takes Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Aristides Capital LLC bought a new stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) during the 4th quarter, HoldingsChannel.com reports. The firm bought 25,200 shares of the company’s stock, valued at approximately $205,000.

Other institutional investors have also made changes to their positions in the company. FMR LLC lifted its stake in Phathom Pharmaceuticals by 49,000.7% during the third quarter. FMR LLC now owns 1,304,114 shares of the company’s stock worth $23,578,000 after purchasing an additional 1,301,458 shares during the period. Jennison Associates LLC grew its holdings in shares of Phathom Pharmaceuticals by 20.4% during the fourth quarter. Jennison Associates LLC now owns 7,062,507 shares of the company’s stock worth $57,348,000 after purchasing an additional 1,196,118 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Phathom Pharmaceuticals in the fourth quarter valued at $3,701,000. Point72 Asset Management L.P. bought a new position in shares of Phathom Pharmaceuticals in the third quarter valued at about $7,952,000. Finally, Trexquant Investment LP acquired a new position in Phathom Pharmaceuticals during the 4th quarter worth about $3,075,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on PHAT. Guggenheim restated a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, April 2nd. The Goldman Sachs Group dropped their price objective on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. Cantor Fitzgerald raised Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. Craig Hallum reissued a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Wednesday, April 2nd. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $22.17.

Insider Activity

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,583 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $43,381.97. Following the transaction, the chief financial officer now owns 93,546 shares of the company’s stock, valued at approximately $616,468.14. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Azmi Nabulsi sold 7,886 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $51,968.74. Following the sale, the chief operating officer now directly owns 233,390 shares of the company’s stock, valued at $1,538,040.10. This represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,578 shares of company stock valued at $221,279 in the last ninety days. 24.10% of the stock is owned by insiders.

Phathom Pharmaceuticals Stock Down 2.6 %

PHAT stock opened at $4.88 on Monday. Phathom Pharmaceuticals, Inc. has a twelve month low of $4.07 and a twelve month high of $19.71. The company has a market cap of $339.83 million, a P/E ratio of -0.86 and a beta of 0.35. The business’s fifty day moving average is $5.69 and its 200-day moving average is $9.61.

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.