Hennion & Walsh Asset Management Inc. Buys 181,346 Shares of Phathom Pharmaceuticals, Inc. $PHAT

Hennion & Walsh Asset Management Inc. increased its position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 124.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 327,278 shares of the company’s stock after buying an additional 181,346 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Phathom Pharmaceuticals were worth $3,551,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in shares of Phathom Pharmaceuticals by 508.2% during the first quarter. AQR Capital Management LLC now owns 107,399 shares of the company’s stock valued at $673,000 after acquiring an additional 89,741 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Phathom Pharmaceuticals by 0.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company’s stock valued at $1,328,000 after acquiring an additional 1,123 shares during the period. Rhumbline Advisers lifted its holdings in shares of Phathom Pharmaceuticals by 13.8% during the second quarter. Rhumbline Advisers now owns 64,557 shares of the company’s stock valued at $619,000 after purchasing an additional 7,818 shares during the last quarter. Invesco Ltd. boosted its holdings in Phathom Pharmaceuticals by 13.4% in the second quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock worth $39,703,000 after acquiring an additional 489,260 shares in the last quarter. Finally, Nebula Research & Development LLC increased its stake in Phathom Pharmaceuticals by 31.6% during the 2nd quarter. Nebula Research & Development LLC now owns 37,937 shares of the company’s stock valued at $364,000 after purchasing an additional 9,116 shares in the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, July 31st. Craig Hallum reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, July 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Friday, July 17th. Guggenheim dropped their price target on Phathom Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Finally, Needham & Company LLC dropped their price objective on shares of Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.43.

Phathom Pharmaceuticals Trading Up 0.2%

Shares of NASDAQ:PHAT opened at $8.57 on Tuesday. The company has a market capitalization of $693.31 million, a PE ratio of -6.70 and a beta of 0.51. The business’s fifty day simple moving average is $10.55 and its 200-day simple moving average is $11.42. Phathom Pharmaceuticals, Inc. has a 12-month low of $8.21 and a 12-month high of $18.31.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company’s core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom’s research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company’s lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.