Bank of New York Mellon Corp Purchases 4,557 Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Bank of New York Mellon Corp grew its position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,748 shares of the company’s stock after acquiring an additional 4,557 shares during the quarter. Bank of New York Mellon Corp’s holdings in Phathom Pharmaceuticals were worth $834,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new position in shares of Phathom Pharmaceuticals during the third quarter valued at approximately $197,000. Intech Investment Management LLC bought a new stake in shares of Phathom Pharmaceuticals during the 3rd quarter worth approximately $207,000. Kera Capital Partners Inc. purchased a new position in Phathom Pharmaceuticals during the 4th quarter valued at $218,000. Summit Financial Wealth Advisors LLC purchased a new position in Phathom Pharmaceuticals during the 3rd quarter valued at $525,000. Finally, MML Investors Services LLC grew its position in Phathom Pharmaceuticals by 72.8% in the 3rd quarter. MML Investors Services LLC now owns 33,860 shares of the company’s stock valued at $612,000 after acquiring an additional 14,260 shares during the last quarter. Institutional investors own 99.01% of the company’s stock.

Phathom Pharmaceuticals Price Performance

Phathom Pharmaceuticals stock opened at $6.39 on Wednesday. Phathom Pharmaceuticals, Inc. has a 1-year low of $4.07 and a 1-year high of $19.71. The business has a fifty day moving average price of $5.88 and a 200-day moving average price of $10.33. The stock has a market capitalization of $444.98 million, a price-to-earnings ratio of -1.12 and a beta of 0.63.

Insider Buying and Selling

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,583 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 transaction of $43,381.97. Following the completion of the transaction, the chief financial officer now owns 93,546 shares in the company, valued at approximately $616,468.14. This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Azmi Nabulsi sold 7,886 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $51,968.74. Following the completion of the sale, the chief operating officer now owns 233,390 shares in the company, valued at approximately $1,538,040.10. This represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,578 shares of company stock worth $221,279 in the last three months. Corporate insiders own 24.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.