Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 10.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 13,941 shares of the company’s stock after acquiring an additional 1,339 shares during the period. The Manufacturers Life Insurance Company’s holdings in Phathom Pharmaceuticals were worth $144,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Phathom Pharmaceuticals by 42.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock worth $104,000 after buying an additional 2,987 shares during the last quarter. Klingman & Associates LLC acquired a new stake in Phathom Pharmaceuticals during the first quarter worth about $110,000. State Board of Administration of Florida Retirement System bought a new position in Phathom Pharmaceuticals in the first quarter worth about $119,000. LVW Advisors LLC acquired a new position in Phathom Pharmaceuticals in the second quarter valued at approximately $133,000. Finally, EntryPoint Capital LLC bought a new position in shares of Phathom Pharmaceuticals during the first quarter valued at approximately $206,000. 99.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. The Goldman Sachs Group increased their target price on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Monday, August 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, September 13th.

Phathom Pharmaceuticals Price Performance

NASDAQ PHAT opened at $16.08 on Friday. The firm has a market capitalization of $958.21 million, a price-to-earnings ratio of -3.13 and a beta of 0.71. The company has a 50 day simple moving average of $16.23 and a 200-day simple moving average of $12.59. Phathom Pharmaceuticals, Inc. has a 52-week low of $6.07 and a 52-week high of $19.71.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.04. The firm had revenue of $7.32 million for the quarter, compared to analysts’ expectations of $5.65 million. On average, analysts predict that Phathom Pharmaceuticals, Inc. will post -6.03 EPS for the current year.

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.