Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Stock Holdings Lessened by California State Teachers Retirement System

California State Teachers Retirement System cut its stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,947 shares of the company’s stock after selling 1,643 shares during the quarter. California State Teachers Retirement System’s holdings in Phathom Pharmaceuticals were worth $307,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Catalys Pacific LLC acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $6,592,000. Jennison Associates LLC acquired a new position in Phathom Pharmaceuticals in the 1st quarter worth approximately $17,499,000. Avidity Partners Management LP grew its position in Phathom Pharmaceuticals by 6.4% during the 4th quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock worth $15,718,000 after purchasing an additional 104,280 shares in the last quarter. Medicxi Ventures Management Jersey Ltd raised its stake in Phathom Pharmaceuticals by 98.5% during the 1st quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock valued at $79,274,000 after purchasing an additional 3,703,703 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Phathom Pharmaceuticals by 54.7% in the fourth quarter. Wellington Management Group LLP now owns 154,391 shares of the company’s stock valued at $1,410,000 after purchasing an additional 54,581 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Monday, August 12th. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a research report on Monday, August 12th. Stifel Nicolaus assumed coverage on shares of Phathom Pharmaceuticals in a research report on Friday, May 3rd. They set a “buy” rating and a $24.00 price objective on the stock. Finally, The Goldman Sachs Group increased their target price on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th.

Phathom Pharmaceuticals Stock Performance

Shares of NASDAQ PHAT opened at $12.45 on Monday. The business has a 50 day simple moving average of $11.31 and a 200 day simple moving average of $10.18. Phathom Pharmaceuticals, Inc. has a 52 week low of $6.07 and a 52 week high of $15.52. The stock has a market cap of $741.90 million, a price-to-earnings ratio of -2.82 and a beta of 0.68.

Insider Buying and Selling at Phathom Pharmaceuticals

In other news, insider Terrie Curran sold 33,848 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $396,698.56. Following the transaction, the insider now owns 377,734 shares in the company, valued at approximately $4,427,042.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Molly Henderson sold 4,325 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $50,689.00. Following the completion of the sale, the chief financial officer now owns 99,447 shares in the company, valued at approximately $1,165,518.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Terrie Curran sold 33,848 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $396,698.56. Following the transaction, the insider now directly owns 377,734 shares in the company, valued at approximately $4,427,042.48. The disclosure for this sale can be found here. Insiders sold 49,074 shares of company stock worth $575,147 over the last ninety days. 24.10% of the stock is currently owned by insiders.

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.