Catalio Capital Management LP Trims Holdings in Phathom Pharmaceuticals, Inc. $PHAT

Catalio Capital Management LP trimmed its position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 38.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 698,996 shares of the company’s stock after selling 429,525 shares during the quarter. Phathom Pharmaceuticals comprises approximately 2.1% of Catalio Capital Management LP’s holdings, making the stock its 21st biggest position. Catalio Capital Management LP owned about 0.98% of Phathom Pharmaceuticals worth $11,596,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PHAT. AQR Capital Management LLC increased its holdings in Phathom Pharmaceuticals by 508.2% in the 1st quarter. AQR Capital Management LLC now owns 107,399 shares of the company’s stock worth $673,000 after acquiring an additional 89,741 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Phathom Pharmaceuticals by 0.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company’s stock worth $1,328,000 after acquiring an additional 1,123 shares in the last quarter. Rhumbline Advisers increased its holdings in Phathom Pharmaceuticals by 13.8% in the 2nd quarter. Rhumbline Advisers now owns 64,557 shares of the company’s stock worth $619,000 after acquiring an additional 7,818 shares in the last quarter. Invesco Ltd. increased its holdings in Phathom Pharmaceuticals by 13.4% in the 2nd 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 holdings in Phathom Pharmaceuticals by 31.6% in the 2nd quarter. Nebula Research & Development LLC now owns 37,937 shares of the company’s stock worth $364,000 after acquiring an additional 9,116 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Price Performance

Shares of PHAT opened at $11.00 on Thursday. Phathom Pharmaceuticals, Inc. has a 1 year low of $7.61 and a 1 year high of $18.31. The company has a 50 day simple moving average of $11.49 and a two-hundred day simple moving average of $12.77. The firm has a market cap of $877.36 million, a P/E ratio of -5.19 and a beta of 0.50.

Analyst Upgrades and Downgrades

PHAT has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Tuesday, April 21st. Barclays raised shares of Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $16.00 to $18.00 in a report on Friday, March 27th. Guggenheim increased their price objective 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 objective on shares of Phathom Pharmaceuticals in a report on Thursday, February 26th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Phathom Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $24.50.

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.