Simplify Asset Management Inc. Grows Holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Simplify Asset Management Inc. lifted its position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 581,935 shares of the company’s stock after buying an additional 60,000 shares during the quarter. Phathom Pharmaceuticals makes up 0.2% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 25th largest position. Simplify Asset Management Inc. owned about 0.85% of Phathom Pharmaceuticals worth $4,725,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Jennison Associates LLC boosted its position in 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 acquiring an additional 1,196,118 shares during the last quarter. Portolan Capital Management LLC lifted its position in Phathom Pharmaceuticals by 50.4% during the third 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 during the period. Checkpoint Capital L.P. boosted its stake in Phathom Pharmaceuticals by 71.9% in the 3rd quarter. Checkpoint Capital L.P. now owns 1,504,307 shares of the company’s stock worth $27,198,000 after buying an additional 629,307 shares during the last quarter. FMR LLC boosted its stake in Phathom Pharmaceuticals by 49,000.7% in the 3rd quarter. FMR LLC now owns 1,304,114 shares of the company’s stock worth $23,578,000 after buying an additional 1,301,458 shares during the last quarter. Finally, State Street Corp grew its holdings in Phathom Pharmaceuticals by 17.5% in the third quarter. State Street Corp now owns 922,788 shares of the company’s stock valued at $16,684,000 after purchasing an additional 137,539 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

Insider Activity

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,583 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $43,381.97. Following the completion of the transaction, the chief financial officer now directly owns 93,546 shares of the company’s stock, valued at $616,468.14. This represents a 6.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Terrie Curran sold 19,109 shares of Phathom Pharmaceuticals stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $125,928.31. Following the sale, the insider now directly owns 360,465 shares in the company, valued at approximately $2,375,464.35. The trade was a 5.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,578 shares of company stock worth $221,279 over the last 90 days. Company insiders own 24.10% of the company’s stock.

Phathom Pharmaceuticals Stock Performance

Phathom Pharmaceuticals stock opened at $6.23 on Friday. The firm has a market capitalization of $433.84 million, a PE ratio of -1.09 and a beta of 0.63. Phathom Pharmaceuticals, Inc. has a one year low of $4.07 and a one year high of $19.71. The stock’s 50 day moving average price is $5.89 and its 200 day moving average price is $10.54.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Guggenheim set a $18.00 price objective on Phathom Pharmaceuticals in a report on Friday, March 7th. Craig Hallum reiterated a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Thursday, March 6th. Finally, Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $22.17.

Phathom Pharmaceuticals Company 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.