KLP Kapitalforvaltning AS Makes New $74,000 Investment in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

KLP Kapitalforvaltning AS bought a new stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) in the 4th quarter, HoldingsChannel reports. The fund bought 9,100 shares of the company’s stock, valued at approximately $74,000.

A number of other hedge funds also recently made changes to their positions in PHAT. Jennison Associates LLC increased its holdings 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 buying an additional 1,196,118 shares during the last quarter. State Street Corp grew its position in shares of Phathom Pharmaceuticals by 17.5% during the 3rd quarter. State Street Corp now owns 922,788 shares of the company’s stock valued at $16,684,000 after acquiring an additional 137,539 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $3,701,000. Barclays PLC increased its stake in shares of Phathom Pharmaceuticals by 366.0% during the 3rd quarter. Barclays PLC now owns 57,807 shares of the company’s stock worth $1,044,000 after purchasing an additional 45,402 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Phathom Pharmaceuticals by 10.0% in the 4th quarter. Rhumbline Advisers now owns 55,968 shares of the company’s stock worth $454,000 after purchasing an additional 5,110 shares during the period. 99.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PHAT. The Goldman Sachs Group decreased their target price on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. Craig Hallum reissued a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Guggenheim reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a report on Wednesday, April 2nd. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Wednesday. 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, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $22.17.

Phathom Pharmaceuticals Stock Performance

NASDAQ:PHAT opened at $4.88 on Friday. The business’s fifty day moving average is $5.45 and its 200 day moving average is $9.07. The firm has a market cap of $339.83 million, a price-to-earnings ratio of -0.86 and a beta of 0.35. Phathom Pharmaceuticals, Inc. has a 52-week low of $3.81 and a 52-week high of $19.71.

Insider Activity

In related news, COO Azmi Nabulsi sold 7,886 shares of Phathom Pharmaceuticals stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $51,968.74. Following the completion of the sale, the chief operating officer now owns 233,390 shares of the company’s stock, valued at approximately $1,538,040.10. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Molly Henderson sold 6,583 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,256 shares of company stock worth $238,014 over the last ninety days. Company insiders own 24.10% of the company’s stock.

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.