Blue Owl Capital Holdings LP Makes New Investment in Rhythm Pharmaceuticals, Inc. $RYTM

Blue Owl Capital Holdings LP acquired a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTMFree Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 61,455 shares of the company’s stock, valued at approximately $6,823,000. Rhythm Pharmaceuticals comprises approximately 1.0% of Blue Owl Capital Holdings LP’s investment portfolio, making the stock its 19th largest position.

Several other large investors also recently modified their holdings of RYTM. EverSource Wealth Advisors LLC grew its stake in Rhythm Pharmaceuticals by 303.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Rhythm Pharmaceuticals by 73.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 145 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Rhythm Pharmaceuticals by 36.3% during the second quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Rhythm Pharmaceuticals by 39.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock worth $43,000 after purchasing an additional 113 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in Rhythm Pharmaceuticals during the 2nd quarter worth approximately $51,000.

Rhythm Pharmaceuticals Trading Down 5.9%

Rhythm Pharmaceuticals stock opened at $108.92 on Friday. The company has a market capitalization of $7.46 billion, a PE ratio of -35.02 and a beta of 1.92. The stock has a 50-day moving average price of $107.60 and a two-hundred day moving average price of $96.69. Rhythm Pharmaceuticals, Inc. has a 12 month low of $74.50 and a 12 month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTMGet Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative net margin of 85.59% and a negative return on equity of 159.87%. The business had revenue of $71.25 million for the quarter, compared to analysts’ expectations of $67.66 million. During the same quarter in the prior year, the firm posted ($0.75) earnings per share. The business’s quarterly revenue was up 46.9% compared to the same quarter last year. As a group, analysts predict that Rhythm Pharmaceuticals, Inc. will post -2.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Yann Mazabraud sold 57,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $116.15, for a total transaction of $6,620,550.00. Following the sale, the executive vice president owned 55,655 shares in the company, valued at $6,464,328.25. This represents a 50.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lynn A. Tetrault sold 37,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $100.32, for a total value of $3,711,840.00. Following the sale, the director directly owned 7,000 shares of the company’s stock, valued at $702,240. This represents a 84.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 182,676 shares of company stock worth $20,754,691 over the last three months. Insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RYTM. TD Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Canaccord Genuity Group set a $154.00 price objective on Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. JPMorgan Chase & Co. lifted their target price on Rhythm Pharmaceuticals from $145.00 to $146.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Friday, July 17th. Finally, National Bank Financial set a $160.00 price target on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 5th. Fifteen investment analysts have rated the stock with a Buy rating, two have given a Hold 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 target price of $142.44.

Check Out Our Latest Analysis on Rhythm Pharmaceuticals

Rhythm Pharmaceuticals Company Profile

(Free Report)

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.

See Also

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Institutional Ownership by Quarter for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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