Portolan Capital Management LLC Increases Stock Holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Portolan Capital Management LLC boosted its stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 50.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,699,918 shares of the company’s stock after acquiring an additional 569,829 shares during the period. Phathom Pharmaceuticals accounts for about 2.2% of Portolan Capital Management LLC’s portfolio, making the stock its 9th biggest position. Portolan Capital Management LLC’s holdings in Phathom Pharmaceuticals were worth $30,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its holdings in shares of Phathom Pharmaceuticals by 112.7% in the 3rd quarter. Jennison Associates LLC now owns 5,866,389 shares of the company’s stock valued at $106,064,000 after purchasing an additional 3,108,810 shares in the last quarter. FMR LLC boosted its holdings in shares of Phathom Pharmaceuticals by 49,000.7% in the 3rd quarter. FMR LLC now owns 1,304,114 shares of the company’s stock valued at $23,578,000 after purchasing an additional 1,301,458 shares in the last quarter. Checkpoint Capital L.P. boosted its holdings in shares of Phathom Pharmaceuticals by 71.9% in the 3rd quarter. Checkpoint Capital L.P. now owns 1,504,307 shares of the company’s stock valued at $27,198,000 after purchasing an additional 629,307 shares in the last quarter. Wasatch Advisors LP acquired a new stake in shares of Phathom Pharmaceuticals in the 3rd quarter valued at $4,465,000. Finally, Oracle Investment Management Inc. acquired a new stake in shares of Phathom Pharmaceuticals in the 2nd quarter valued at $2,318,000. Institutional investors own 99.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PHAT. HC Wainwright reissued a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Monday, August 12th. The Goldman Sachs Group raised their price objective on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, September 13th.

Phathom Pharmaceuticals Stock Up 1.5 %

Shares of NASDAQ:PHAT opened at $8.84 on Wednesday. The firm has a market cap of $604.48 million, a P/E ratio of -1.55 and a beta of 0.56. Phathom Pharmaceuticals, Inc. has a 12-month low of $6.07 and a 12-month high of $19.71. The business has a fifty day simple moving average of $14.33 and a 200 day simple moving average of $13.28.

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.