Summit Financial Wealth Advisors LLC Invests $525,000 in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Summit Financial Wealth Advisors LLC acquired a new position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) in the 3rd quarter, Holdings Channel reports. The fund acquired 29,032 shares of the company’s stock, valued at approximately $525,000.

Several other large investors also recently bought and sold shares of PHAT. Huntington National Bank grew its stake in Phathom Pharmaceuticals by 62.2% during the 3rd quarter. Huntington National Bank now owns 1,471 shares of the company’s stock valued at $27,000 after purchasing an additional 564 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Phathom Pharmaceuticals by 41.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock valued at $43,000 after buying an additional 722 shares in the last quarter. US Bancorp DE raised its holdings in Phathom Pharmaceuticals by 28.6% during the third quarter. US Bancorp DE now owns 5,248 shares of the company’s stock worth $95,000 after purchasing an additional 1,166 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Phathom Pharmaceuticals by 10.6% during the second quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock valued at $144,000 after buying an additional 1,339 shares in the last quarter. Finally, Inspirion Wealth Advisors LLC grew its stake in shares of Phathom Pharmaceuticals by 4.3% in the 2nd quarter. Inspirion Wealth Advisors LLC now owns 36,634 shares of the company’s stock worth $377,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Trading Down 2.7 %

Shares of PHAT stock opened at $9.09 on Tuesday. Phathom Pharmaceuticals, Inc. has a 1-year low of $6.07 and a 1-year high of $19.71. The stock has a market cap of $621.57 million, a price-to-earnings ratio of -1.60 and a beta of 0.72. The stock has a 50-day moving average of $15.46 and a 200-day moving average of $13.34.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PHAT. HC Wainwright reissued a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Monday, August 12th. The Goldman Sachs Group lifted their price target on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, September 13th.

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.