Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Holdings Boosted by Jennison Associates LLC

Jennison Associates LLC lifted its position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 20.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,062,507 shares of the company’s stock after acquiring an additional 1,196,118 shares during the period. Jennison Associates LLC owned 10.33% of Phathom Pharmaceuticals worth $57,348,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Portolan Capital Management LLC raised its stake in shares of Phathom Pharmaceuticals by 50.4% in the 3rd quarter. Portolan Capital Management LLC now owns 1,699,918 shares of the company’s stock worth $30,735,000 after buying an additional 569,829 shares in the last quarter. Checkpoint Capital L.P. grew its holdings in shares of Phathom Pharmaceuticals by 71.9% during the third quarter. Checkpoint Capital L.P. now owns 1,504,307 shares of the company’s stock valued at $27,198,000 after buying an additional 629,307 shares in the last quarter. FMR LLC grew its stake in Phathom Pharmaceuticals by 49,000.7% during the 3rd quarter. FMR LLC now owns 1,304,114 shares of the company’s stock valued at $23,578,000 after acquiring an additional 1,301,458 shares in the last quarter. State Street Corp increased its stake in Phathom Pharmaceuticals by 17.5% in the 3rd quarter. State Street Corp now owns 922,788 shares of the company’s stock valued at $16,684,000 after buying an additional 137,539 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Phathom Pharmaceuticals by 7.1% during the third quarter. Geode Capital Management LLC now owns 862,918 shares of the company’s stock worth $15,605,000 after acquiring an additional 56,871 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

Insider Activity

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,583 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $43,381.97. Following the transaction, the chief financial officer now owns 93,546 shares in the company, valued at $616,468.14. This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Azmi Nabulsi sold 7,886 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 transaction of $51,968.74. Following the completion of the transaction, the chief operating officer now directly owns 233,390 shares in the company, valued at $1,538,040.10. This trade represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,987 shares of company stock valued at $240,551 in the last quarter. Company insiders own 24.10% of the company’s stock.

Phathom Pharmaceuticals Trading Down 6.0 %

Shares of NASDAQ PHAT opened at $5.63 on Tuesday. The firm’s 50-day moving average is $7.72 and its 200-day moving average is $12.30. The firm has a market capitalization of $384.96 million, a PE ratio of -0.99 and a beta of 0.56. Phathom Pharmaceuticals, Inc. has a 1 year low of $5.58 and a 1 year high of $19.71.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its earnings results on Thursday, November 7th. The company reported ($1.32) earnings per share for the quarter, topping the consensus estimate of ($1.57) by $0.25. The business had revenue of $16.35 million for the quarter, compared to the consensus estimate of $12.54 million. During the same quarter in the prior year, the firm posted ($0.76) earnings per share. As a group, equities research analysts anticipate that Phathom Pharmaceuticals, Inc. will post -4.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, January 10th.

About Phathom Pharmaceuticals

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.