Integral Health Asset Management LLC Makes New $8.40 Million Investment in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Integral Health Asset Management LLC bought a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 150,000 shares of the company’s stock, valued at approximately $8,397,000.

Other large investors also recently bought and sold shares of the company. Janus Henderson Group PLC raised its position in shares of Rhythm Pharmaceuticals by 103.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock worth $68,309,000 after purchasing an additional 621,432 shares during the period. D. E. Shaw & Co. Inc. raised its position in shares of Rhythm Pharmaceuticals by 1,022.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 48,198 shares of the company’s stock worth $2,698,000 after purchasing an additional 43,904 shares during the period. Deutsche Bank AG raised its position in shares of Rhythm Pharmaceuticals by 46.5% during the 4th quarter. Deutsche Bank AG now owns 48,745 shares of the company’s stock worth $2,729,000 after purchasing an additional 15,481 shares during the period. Crestline Management LP raised its position in shares of Rhythm Pharmaceuticals by 31.9% during the 4th quarter. Crestline Management LP now owns 25,062 shares of the company’s stock worth $1,403,000 after purchasing an additional 6,064 shares during the period. Finally, Bridgefront Capital LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $258,000.

Rhythm Pharmaceuticals Price Performance

RYTM opened at $57.37 on Monday. The stock’s 50 day moving average price is $56.95 and its 200 day moving average price is $57.10. The stock has a market cap of $3.65 billion, a P/E ratio of -13.25 and a beta of 2.36. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.12). The firm had revenue of $37.72 million for the quarter, compared to the consensus estimate of $40.43 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.35) earnings per share. Equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RYTM. Canaccord Genuity Group increased their price target on Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, April 8th. Bank of America upgraded Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Monday, April 7th. Wells Fargo & Company increased their price target on Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the stock an “overweight” rating in a research report on Monday, April 7th. HC Wainwright reiterated a “buy” rating and set a $80.00 price target (up from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Finally, Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They issued a “buy” rating and a $78.00 target price on the stock. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $75.38.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 7,031 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $65.09, for a total transaction of $457,647.79. Following the completion of the transaction, the insider now directly owns 19,209 shares of the company’s stock, valued at approximately $1,250,313.81. This trade represents a 26.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Hunter C. Smith sold 1,296 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $57.51, for a total value of $74,532.96. Following the transaction, the chief financial officer now directly owns 106,295 shares of the company’s stock, valued at approximately $6,113,025.45. The trade was a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,544 shares of company stock valued at $8,245,925. 5.60% of the stock is owned by corporate insiders.

Rhythm Pharmaceuticals Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.