Eagle Asset Management Inc. Raises Stock Holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Eagle Asset Management Inc. increased its stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 25.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 455,196 shares of the company’s stock after purchasing an additional 93,733 shares during the quarter. Eagle Asset Management Inc.’s holdings in Phathom Pharmaceuticals were worth $7,675,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in shares of Phathom Pharmaceuticals by 112.7% during the 3rd quarter. Jennison Associates LLC now owns 5,866,389 shares of the company’s stock worth $106,064,000 after purchasing an additional 3,108,810 shares during the last quarter. Vanguard Group Inc. boosted its position in Phathom Pharmaceuticals by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,979,113 shares of the company’s stock worth $21,018,000 after acquiring an additional 22,684 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Phathom Pharmaceuticals by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 292,860 shares of the company’s stock worth $5,295,000 after acquiring an additional 6,990 shares during the period. Oracle Investment Management Inc. acquired a new position in Phathom Pharmaceuticals in the 2nd quarter valued at $2,318,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Phathom Pharmaceuticals by 20.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 114,721 shares of the company’s stock worth $1,182,000 after purchasing an additional 19,500 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Trading Down 1.2 %

PHAT stock opened at $9.34 on Monday. The stock has a 50-day moving average price of $15.65 and a two-hundred day moving average price of $13.35. The company has a market cap of $638.67 million, a PE ratio of -1.64 and a beta of 0.72. Phathom Pharmaceuticals, Inc. has a 12-month low of $6.07 and a 12-month high of $19.71.

Wall Street Analyst Weigh In

PHAT has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Monday, August 12th. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, September 13th. Finally, The Goldman Sachs Group boosted their target price on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, August 9th.

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.