MML Investors Services LLC Increases Holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

MML Investors Services LLC increased its position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 72.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,860 shares of the company’s stock after purchasing an additional 14,260 shares during the quarter. MML Investors Services LLC’s holdings in Phathom Pharmaceuticals were worth $612,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PHAT. Jennison Associates LLC lifted its stake in Phathom Pharmaceuticals by 112.7% during the 3rd quarter. Jennison Associates LLC now owns 5,866,389 shares of the company’s stock valued at $106,064,000 after acquiring an additional 3,108,810 shares during the period. FMR LLC lifted its position in Phathom Pharmaceuticals by 49,000.7% during the third quarter. FMR LLC now owns 1,304,114 shares of the company’s stock valued at $23,578,000 after purchasing an additional 1,301,458 shares during the period. Checkpoint Capital L.P. boosted its holdings in Phathom Pharmaceuticals by 71.9% in the third quarter. Checkpoint Capital L.P. now owns 1,504,307 shares of the company’s stock valued at $27,198,000 after purchasing an additional 629,307 shares during the last quarter. Portolan Capital Management LLC grew its position in Phathom Pharmaceuticals by 50.4% during the 3rd quarter. Portolan Capital Management LLC now owns 1,699,918 shares of the company’s stock worth $30,735,000 after purchasing an additional 569,829 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Phathom Pharmaceuticals during the 3rd quarter valued at about $7,952,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Insider Activity

In related news, Director Frank Karbe acquired 12,500 shares of Phathom Pharmaceuticals stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $7.93 per share, for a total transaction of $99,125.00. Following the completion of the transaction, the director now owns 57,000 shares of the company’s stock, valued at approximately $452,010. The trade was a 28.09 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 24.10% of the company’s stock.

Phathom Pharmaceuticals Trading Down 4.7 %

NASDAQ PHAT opened at $7.45 on Friday. Phathom Pharmaceuticals, Inc. has a twelve month low of $6.07 and a twelve month high of $19.71. The stock has a 50-day moving average of $12.11 and a 200 day moving average of $13.09. The stock has a market capitalization of $509.41 million, a price-to-earnings ratio of -1.31 and a beta of 0.56.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PHAT shares. HC Wainwright restated a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Wednesday, December 11th.

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.