SummitTX Capital L.P. Purchases 478,065 Shares of Phathom Pharmaceuticals, Inc. $PHAT

SummitTX Capital L.P. grew its stake in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 92.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 995,885 shares of the company’s stock after buying an additional 478,065 shares during the period. SummitTX Capital L.P. owned approximately 1.25% of Phathom Pharmaceuticals worth $11,064,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Phathom Pharmaceuticals by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 124,018 shares of the company’s stock valued at $1,378,000 after buying an additional 1,051 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Phathom Pharmaceuticals by 0.8% in the second quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company’s stock worth $1,328,000 after purchasing an additional 1,123 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Phathom Pharmaceuticals by 9.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,826 shares of the company’s stock valued at $152,000 after purchasing an additional 1,364 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Phathom Pharmaceuticals during the 4th quarter valued at approximately $27,000. Finally, AQR Capital Management LLC grew its position in Phathom Pharmaceuticals by 3.5% in the fourth quarter. AQR Capital Management LLC now owns 54,448 shares of the company’s stock worth $903,000 after acquiring an additional 1,819 shares in the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PHAT has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Friday, July 17th. HC Wainwright restated a “buy” rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

Phathom Pharmaceuticals Stock Performance

Phathom Pharmaceuticals stock opened at $11.44 on Monday. The company has a fifty day simple moving average of $10.86 and a 200-day simple moving average of $11.87. The stock has a market cap of $912.45 million, a P/E ratio of -5.40 and a beta of 0.49. Phathom Pharmaceuticals, Inc. has a 12-month low of $8.02 and a 12-month high of $18.31.

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.