Inspirion Wealth Advisors LLC Cuts Holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)

Inspirion Wealth Advisors LLC cut its holdings in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 45.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,964 shares of the company’s stock after selling 16,670 shares during the quarter. Inspirion Wealth Advisors LLC’s holdings in Phathom Pharmaceuticals were worth $162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Huntington National Bank lifted its holdings in Phathom Pharmaceuticals by 62.2% in the third quarter. Huntington National Bank now owns 1,471 shares of the company’s stock valued at $27,000 after acquiring an additional 564 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Phathom Pharmaceuticals by 41.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock worth $43,000 after purchasing an additional 722 shares during the period. US Bancorp DE increased its holdings in shares of Phathom Pharmaceuticals by 28.6% in the 3rd quarter. US Bancorp DE now owns 5,248 shares of the company’s stock valued at $95,000 after purchasing an additional 1,166 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Phathom Pharmaceuticals by 10.6% in the second quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock valued at $144,000 after purchasing an additional 1,339 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of Phathom Pharmaceuticals in the third quarter valued at about $197,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Stock Down 2.4 %

Shares of NASDAQ PHAT opened at $6.96 on Friday. The firm’s 50-day moving average is $8.74 and its two-hundred day moving average is $12.65. Phathom Pharmaceuticals, Inc. has a 12-month low of $6.07 and a 12-month high of $19.71.

Insider Buying and Selling

In other Phathom Pharmaceuticals news, Director Frank Karbe acquired 12,500 shares of the firm’s 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 purchase, the director now directly owns 57,000 shares in the company, valued at $452,010. This represents a 28.09 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 24.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, January 10th. HC Wainwright restated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Thursday, December 12th.

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.