Catalio Capital Management LP Cuts Stock Position in Phathom Pharmaceuticals, Inc. $PHAT

Catalio Capital Management LP cut its holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 38.1% in the fourth quarter, HoldingsChannel reports. The firm owned 698,996 shares of the company’s stock after selling 429,525 shares during the quarter. Phathom Pharmaceuticals accounts for 2.1% of Catalio Capital Management LP’s portfolio, making the stock its 21st largest position. Catalio Capital Management LP’s holdings in Phathom Pharmaceuticals were worth $11,596,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Phathom Pharmaceuticals in the fourth quarter valued at $27,000. Jones Financial Companies Lllp grew its holdings in shares of Phathom Pharmaceuticals by 442.6% in the third quarter. Jones Financial Companies Lllp now owns 2,523 shares of the company’s stock valued at $30,000 after purchasing an additional 2,058 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Phathom Pharmaceuticals in the second quarter valued at $30,000. Kestra Advisory Services LLC purchased a new position in shares of Phathom Pharmaceuticals in the fourth quarter valued at $38,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Phathom Pharmaceuticals by 71.9% in the second quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company’s stock valued at $49,000 after purchasing an additional 2,122 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PHAT. Weiss Ratings reissued a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Tuesday, April 21st. Guggenheim raised their target price on shares of Phathom Pharmaceuticals from $20.00 to $25.00 and gave the company a “buy” rating in a report on Friday, February 27th. Stifel Nicolaus set a $28.00 price target on Phathom Pharmaceuticals in a research report on Thursday, February 26th. Barclays upgraded Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $16.00 to $18.00 in a research report on Friday, March 27th. Finally, HC Wainwright restated a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Phathom Pharmaceuticals Stock Up 5.5%

Shares of PHAT opened at $11.00 on Thursday. The company has a market cap of $877.36 million, a PE ratio of -5.19 and a beta of 0.50. The business has a fifty day moving average of $11.49 and a 200 day moving average of $12.77. Phathom Pharmaceuticals, Inc. has a 52-week low of $7.61 and a 52-week high of $18.31.

Phathom Pharmaceuticals Profile

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.