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Phathom Pharmaceuticals PHAT

US equityMarket cap rank #3679Biotechnology
$6.81 +$0.03 (+0.44%)
Market closed · Oct 8, 7:20 am ET · Last extended-hours $6.80 -0.15%
Open$6.87
Prev close$6.78
Day range$6.60 – $7.03
Volume1.63M
Market cap$550.94M
P/E (TTM)–
Dividend yield–

Ownership & positioning

Who holds it, who is betting against it, and where the big money is moving

Institutional ownership91.0%-2.81 pts vs. prior quarter
Institutions holding195-3 vs. prior quarter
Insider trades (recent)32 buys / 18 sellsNet buying
Short interest12.56% of floatDays to cover 9.1 · as of 15 Sep 2026
Short-sale volume share23.8%5-day average of daily volume

Short-sale volume as % of daily volume

13%23%34%44%Sep '26Sep '26Oct '26

Large-order net flow, last 20 sessions

Net of large-order buying minus selling, in USD. Over this window: −$2.92M (10 inflow days, 10 outflow days).

Net flow by order size, last 20 sessions

−$3.9MSuper+$989.1KBig−$968.5KMid−$2.4MSmall

Super/Big orders approximate institutional-size trades; Mid/Small approximate retail-size trades. Net buy minus sell value in each bucket, summed over the window.

The five largest holders on file together own 39.5% of shares outstanding.

Largest holders

  • Frazier Life Sciences Management, LP15.41%
  • Medicxi Ventures (UK) LLP9.23%
  • BlackRock5.59%
  • Invesco Ltd.4.98%
  • Abingworth LLP4.32%
  • Millennium Management LLC4.17%
  • Vanguard Capital Management, LLC3.72%
  • GW&K Investment Management, LLC2.68%

By investor type

  • Mutual Fund38.92%
  • VC/PE Fund34.47%
  • Hedge Fund13.82%
  • Individual/Insider3.51%
  • Public Company2.74%
  • Private Company0.54%
  • Government Pension Fund0.21%
  • Insurance Company0.19%

Reported short interest has fallen from 15.04% to 12.56% of float over the last 6 biweekly reports (30 Jun 2026 to 15 Sep 2026).

Recent institutional activity

HolderTypePeriodShare changeNew stake
Nuveen Asset Management LLC Insurance Company 2026/Q3 +119,285 0.1%
Point72 Asset Management, L.P. Hedge Fund 2026/Q3 +1,022,193 1.3%
Franklin Resources Mutual Fund 2026/Q3 +976,324 2.4%
The Goldman Sachs Group, Inc. Public Company 2026/Q3 +893,022 1.8%
GW&K Investment Management, LLC Mutual Fund 2026/Q3 +745,729 2.7%
HSBC Global Asset Management (UK) Limited Mutual Fund 2026/Q3 +709,695 0.9%
Propel Bio Management, LLC Mutual Fund 2026/Q3 +471,472 1.3%
BlackRock Mutual Fund 2026/Q3 +463,133 5.6%
Goldman Sachs Asset Management, L.P. Mutual Fund 2026/Q3 +258,814 0.4%
Macquarie Investment Management Business Trust Mutual Fund 2026/Q3 +257,369 1.8%
Jane Street Group, LLC Private Company 2026/Q3 +212,706 0.3%
State Street Global Advisors Mutual Fund 2026/Q3 +199,433 2.0%
Opaleye Management Inc. Hedge Fund 2026/Q3 +185,589 0.2%
Hennion & Walsh Asset Management, Inc. Mutual Fund 2026/Q3 +181,346 0.4%
Delaware Management Company Mutual Fund 2026/Q3 +169,190 1.2%

Institutional buy/sell activity by reporting period, largest moves first.

Insider transactions

DateInsiderTitleTransactionSharesPriceHeld after
2 Sep 2026 Robert Breedlove Sale to Issuer -460 $9.05 67,657
13 Jul 2026 Robert Breedlove Sale to Issuer -1,555 $11.04 66,870
21 May 2026 Asit Parikh Independent Director Other Acquisition +28,000 – 148,500
21 May 2026 Asit Parikh Independent Director Other Disposition -28,000 – 148,500
19 May 2026 Asit Parikh Independent Director Derivative Sale to Issuer -17,500 – –
19 May 2026 Asit Parikh Independent Director Derivative Exercise and Retained +17,500 $4.95 148,500
18 May 2026 Michael Cola Independent Interim Chairman of the Board Other Acquisition +24,122 – 54,122
18 May 2026 Heidi Fields Independent Director Other Acquisition +24,122 – 34,622
18 May 2026 James Topper Independent Director Other Acquisition +24,122 – 24,122
18 May 2026 Frank Karbe Independent Director Other Acquisition +24,122 – 34,622
18 May 2026 Theodore Schroeder Director Other Acquisition +24,122 – 38,122
18 May 2026 Asit Parikh Independent Director Other Acquisition +24,122 – 24,122
18 May 2026 Mark Stenhouse Independent Director Other Acquisition +24,122 – 34,622
9 Mar 2026 Asit Parikh Independent Director Other Acquisition +40,000 – 120,500
9 Mar 2026 Asit Parikh Independent Director Other Disposition -40,000 – 120,500
26 Feb 2026 Robert Breedlove Sale to Issuer -1,378 $12.56 55,425
26 Feb 2026 Robert Breedlove Other Acquisition +2,790 – 55,425
26 Feb 2026 Robert Breedlove Other Acquisition +13,000 – 13,000
9 Feb 2026 Steven Basta Chief Executive Officer Sale to Issuer -6,277 $12.82 122,281
9 Feb 2026 Steven Basta Chief Executive Officer Other Acquisition +12,362 – 122,281

From Form 4/Form 144 filings. Negative share counts are disposals (sales, gifts, or shares withheld for taxes); positive are acquisitions.

Short interest, by report

Report dateShares short% of floatDays to cover
15 Sep 2026 10,157,209 12.6% 9.1
31 Aug 2026 10,823,977 13.4% 11.0
14 Aug 2026 11,773,979 14.6% 6.9
31 Jul 2026 13,327,316 16.5% 8.7
15 Jul 2026 12,121,682 15.2% 9.0
30 Jun 2026 11,993,590 15.0% 11.7

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