Tang Capital Management LLC Takes $4.06 Million Position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Tang Capital Management LLC acquired a new position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 500,000 shares of the company’s stock, valued at approximately $4,060,000. Tang Capital Management LLC owned approximately 0.73% of Phathom Pharmaceuticals at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS acquired a new stake in Phathom Pharmaceuticals in the 4th quarter valued at approximately $74,000. Teacher Retirement System of Texas acquired a new stake in Phathom Pharmaceuticals in the 4th quarter valued at approximately $90,000. Rafferty Asset Management LLC acquired a new stake in Phathom Pharmaceuticals in the 4th quarter valued at approximately $90,000. Versor Investments LP acquired a new stake in Phathom Pharmaceuticals in the 4th quarter valued at approximately $101,000. Finally, Virtu Financial LLC acquired a new stake in Phathom Pharmaceuticals in the 4th quarter valued at approximately $109,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Monday, April 21st. Guggenheim lowered their target price on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. Craig Hallum restated a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Finally, The Goldman Sachs Group cut their target price on Phathom Pharmaceuticals from $10.00 to $5.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Phathom Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $17.60.

Phathom Pharmaceuticals Price Performance

PHAT opened at $4.09 on Friday. The company has a market capitalization of $285.54 million, a price-to-earnings ratio of -0.72 and a beta of 0.15. Phathom Pharmaceuticals, Inc. has a 1-year low of $2.21 and a 1-year high of $19.71. The business has a 50 day moving average price of $4.48 and a two-hundred day moving average price of $6.83.

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.