Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Shares Acquired by Simplify Asset Management Inc.

Simplify Asset Management Inc. increased its position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 11.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 581,935 shares of the company’s stock after purchasing an additional 60,000 shares during the period. Phathom Pharmaceuticals accounts for about 0.2% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 25th biggest holding. Simplify Asset Management Inc.’s holdings in Phathom Pharmaceuticals were worth $4,725,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth approximately $74,000. Teacher Retirement System of Texas bought a new position in Phathom Pharmaceuticals during the fourth quarter worth $90,000. Versor Investments LP acquired a new position in Phathom Pharmaceuticals in the fourth quarter worth $101,000. Virtu Financial LLC bought a new stake in Phathom Pharmaceuticals during the fourth quarter valued at $109,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Phathom Pharmaceuticals during the fourth quarter worth $171,000. 99.01% of the stock is owned by institutional investors.

Phathom Pharmaceuticals Trading Down 0.5 %

Shares of NASDAQ PHAT opened at $6.23 on Friday. Phathom Pharmaceuticals, Inc. has a 12-month low of $4.07 and a 12-month high of $19.71. The company has a market cap of $433.84 million, a PE ratio of -1.09 and a beta of 0.63. The stock has a 50 day simple moving average of $5.89 and a 200-day simple moving average of $10.54.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Thursday, March 6th. The Goldman Sachs Group lowered their target price on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Craig Hallum reissued a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, February 25th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Phathom Pharmaceuticals currently has an average rating of “Buy” and an average price target of $22.17.

Insider Buying and Selling at Phathom Pharmaceuticals

In related news, CFO Molly Henderson sold 6,583 shares of the 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 owns 93,546 shares in the company, valued at $616,468.14. This represents a 6.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Terrie Curran sold 19,109 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $125,928.31. Following the sale, the insider now owns 360,465 shares in the company, valued at $2,375,464.35. This trade represents 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 valued at $221,279 in the last quarter. Corporate insiders own 24.10% of the company’s stock.

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.