Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC raised its holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 72.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,860 shares of the company’s stock after acquiring an additional 14,260 shares during the period. MML Investors Services LLC’s holdings in Phathom Pharmaceuticals were worth $612,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. State Street Corp increased its holdings in shares of Phathom Pharmaceuticals by 17.5% in the third quarter. State Street Corp now owns 922,788 shares of the company’s stock valued at $16,684,000 after purchasing an additional 137,539 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Phathom Pharmaceuticals in the 3rd quarter worth $7,952,000. Portolan Capital Management LLC raised its holdings in shares of Phathom Pharmaceuticals by 50.4% during the 3rd quarter. Portolan Capital Management LLC now owns 1,699,918 shares of the company’s stock worth $30,735,000 after acquiring an additional 569,829 shares during the period. Checkpoint Capital L.P. boosted its position in shares of Phathom Pharmaceuticals by 71.9% during the 3rd quarter. Checkpoint Capital L.P. now owns 1,504,307 shares of the company’s stock valued at $27,198,000 after acquiring an additional 629,307 shares during the last quarter. Finally, Wasatch Advisors LP purchased a new stake in shares of Phathom Pharmaceuticals in the third quarter valued at about $4,465,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Price Performance

Shares of PHAT opened at $7.45 on Friday. The firm has a 50-day simple moving average of $12.11 and a two-hundred day simple moving average of $13.09. The stock has a market cap of $509.41 million, a PE ratio of -1.31 and a beta of 0.56. Phathom Pharmaceuticals, Inc. has a 1-year low of $6.07 and a 1-year high of $19.71.

Analyst Upgrades and Downgrades

PHAT has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Thursday, December 12th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Wednesday, December 11th.

Insider Buying and Selling

In other news, Director Frank Karbe bought 12,500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average price of $7.93 per share, with a total value of $99,125.00. Following the purchase, the director now owns 57,000 shares in the company, valued at approximately $452,010. The trade was a 28.09 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 24.10% of the stock is currently owned by corporate 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.