Trexquant Investment LP Makes New $3.08 Million Investment in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Trexquant Investment LP acquired a new position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 378,637 shares of the company’s stock, valued at approximately $3,075,000. Trexquant Investment LP owned approximately 0.55% of Phathom Pharmaceuticals as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jennison Associates LLC boosted its position 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. State Street Corp boosted 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 worth $16,684,000 after buying an additional 137,539 shares during the period. FMR LLC increased its position in shares of Phathom Pharmaceuticals by 49,000.7% in the third 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 in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Phathom Pharmaceuticals in the 3rd quarter valued at approximately $7,952,000. Finally, Raymond James Financial Inc. acquired a new position in Phathom Pharmaceuticals in the 4th quarter worth approximately $3,701,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Phathom Pharmaceuticals Price Performance

Shares of Phathom Pharmaceuticals stock opened at $4.88 on Monday. The stock has a 50-day simple moving average of $5.69 and a 200-day simple moving average of $9.61. Phathom Pharmaceuticals, Inc. has a 52-week low of $4.07 and a 52-week high of $19.71. The firm has a market cap of $339.83 million, a price-to-earnings ratio of -0.86 and a beta of 0.35.

Analysts Set New Price Targets

Several brokerages have issued reports on PHAT. Guggenheim reissued a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, April 2nd. Needham & Company LLC reissued a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Wednesday, April 2nd. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group lowered their target price on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Finally, Craig Hallum reissued a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Phathom Pharmaceuticals has an average rating of “Buy” and a consensus target price of $22.17.

Insider Buying and Selling at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,583 shares of the stock in a transaction on Tuesday, January 21st. The shares were 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 $616,468.14. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Azmi Nabulsi sold 7,886 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $51,968.74. Following the transaction, the chief operating officer now owns 233,390 shares in the company, valued at approximately $1,538,040.10. This trade represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,578 shares of company stock worth $221,279 over the last ninety days. 24.10% of the stock is currently owned by 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.