Prudential Financial Inc. Has $3.76 Million Holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Prudential Financial Inc. increased its stake in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 11.6% during the fourth quarter, HoldingsChannel reports. The fund owned 463,340 shares of the company’s stock after buying an additional 48,000 shares during the period. Prudential Financial Inc.’s holdings in Phathom Pharmaceuticals were worth $3,762,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in shares of Phathom Pharmaceuticals by 20.4% in the 4th quarter. Jennison Associates LLC now owns 7,062,507 shares of the company’s stock valued at $57,348,000 after purchasing an additional 1,196,118 shares during the period. Vanguard Group Inc. raised its position in Phathom Pharmaceuticals by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 2,779,561 shares of the company’s stock valued at $22,570,000 after buying an additional 83,238 shares during the last quarter. Portolan Capital Management LLC lifted its stake in Phathom Pharmaceuticals by 50.4% in the 3rd quarter. Portolan Capital Management LLC now owns 1,699,918 shares of the company’s stock valued at $30,735,000 after acquiring an additional 569,829 shares in the last quarter. FMR LLC boosted its position in Phathom Pharmaceuticals by 49,000.7% during the 3rd quarter. FMR LLC now owns 1,304,114 shares of the company’s stock worth $23,578,000 after acquiring an additional 1,301,458 shares during the last quarter. Finally, State Street Corp grew its stake 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 worth $16,684,000 after acquiring an additional 137,539 shares in the last quarter. 99.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Phathom Pharmaceuticals Stock Performance

Shares of NASDAQ:PHAT opened at $5.12 on Wednesday. Phathom Pharmaceuticals, Inc. has a 52-week low of $4.07 and a 52-week high of $19.71. The company has a market capitalization of $356.54 million, a P/E ratio of -0.90 and a beta of 0.63. The company has a 50-day simple moving average of $5.80 and a 200 day simple moving average of $9.90.

Insider Activity

In related news, insider Terrie Curran sold 19,109 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $125,928.31. Following the sale, the insider now owns 360,465 shares in the company, valued at approximately $2,375,464.35. This represents a 5.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Molly Henderson sold 6,583 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 $43,381.97. Following the transaction, the chief financial officer now directly owns 93,546 shares of the company’s stock, valued at approximately $616,468.14. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,578 shares of company stock valued at $221,279 over the last three months. 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.