Phathom Pharmaceuticals, Inc. $PHAT Shares Sold by Simplify Asset Management Inc.

Simplify Asset Management Inc. lessened its holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 38.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 321,935 shares of the company’s stock after selling 200,000 shares during the period. Simplify Asset Management Inc.’s holdings in Phathom Pharmaceuticals were worth $3,789,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PHAT. Inspirion Wealth Advisors LLC increased its holdings in shares of Phathom Pharmaceuticals by 84.9% during the third quarter. Inspirion Wealth Advisors LLC now owns 36,634 shares of the company’s stock valued at $431,000 after acquiring an additional 16,820 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Phathom Pharmaceuticals by 58.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company’s stock valued at $55,000 after purchasing an additional 2,102 shares in the last quarter. Moore Capital Management LP purchased a new position in shares of Phathom Pharmaceuticals in the second quarter worth $5,754,000. Frazier Life Sciences Management L.P. lifted its stake in shares of Phathom Pharmaceuticals by 23.3% during the second quarter. Frazier Life Sciences Management L.P. now owns 12,466,489 shares of the company’s stock worth $119,554,000 after buying an additional 2,357,210 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of Phathom Pharmaceuticals by 71.9% during the second quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company’s stock worth $49,000 after buying an additional 2,122 shares during the period. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PHAT shares. Guggenheim reissued a “buy” rating and issued a $20.00 target price on shares of Phathom Pharmaceuticals in a research report on Thursday, October 30th. Wall Street Zen raised Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Craig Hallum restated a “buy” rating and issued a $22.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, October 31st. HC Wainwright lifted their target price on Phathom Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Barclays assumed coverage on shares of Phathom Pharmaceuticals in a report on Monday, December 8th. They issued an “equal weight” rating and a $16.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Phathom Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Phathom Pharmaceuticals Stock Performance

Shares of PHAT opened at $17.22 on Tuesday. The business’s 50-day moving average is $14.84 and its two-hundred day moving average is $12.09. The company has a market capitalization of $1.23 billion, a P/E ratio of -4.51 and a beta of 0.43. Phathom Pharmaceuticals, Inc. has a fifty-two week low of $2.21 and a fifty-two week high of $18.31.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its earnings results on Thursday, October 30th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.15. The company had revenue of $49.50 million during the quarter, compared to analysts’ expectations of $47.03 million. Analysts forecast that Phathom Pharmaceuticals, Inc. will post -4.78 EPS for the current year.

Phathom Pharmaceuticals 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.