Carlyle Group Inc. Purchases New Shares in Phathom Pharmaceuticals, Inc. $PHAT

Carlyle Group Inc. purchased a new position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,496,808 shares of the company’s stock, valued at approximately $37,940,000. Phathom Pharmaceuticals accounts for 0.4% of Carlyle Group Inc.’s investment portfolio, making the stock its 3rd largest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Phathom Pharmaceuticals in the fourth quarter valued at about $27,000. Raymond James Financial Inc. purchased a new position in shares of Phathom Pharmaceuticals during the second quarter worth about $30,000. Summit Securities Group LLC purchased a new position in shares of Phathom Pharmaceuticals during the first quarter worth about $34,000. Kestra Advisory Services LLC acquired a new position in Phathom Pharmaceuticals in the 4th quarter valued at about $38,000. Finally, BNP Paribas Financial Markets increased its position in Phathom Pharmaceuticals by 71.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company’s stock valued at $49,000 after acquiring an additional 2,122 shares during the period. 99.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, July 31st. Craig Hallum reissued a “buy” rating and issued a $20.00 target price on shares of Phathom Pharmaceuticals in a report on Friday, July 31st. Barclays cut their price target on Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday. Guggenheim decreased their price target on Phathom Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a report on Friday, July 31st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.86.

Phathom Pharmaceuticals Stock Down 3.1%

Shares of Phathom Pharmaceuticals stock opened at $9.28 on Tuesday. The firm has a market cap of $750.75 million, a price-to-earnings ratio of -7.25 and a beta of 0.51. Phathom Pharmaceuticals, Inc. has a 52-week low of $8.21 and a 52-week high of $18.31. The company’s 50-day simple moving average is $10.47 and its 200-day simple moving average is $11.25.

Phathom Pharmaceuticals Company 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.