WCM Investment Management LLC raised its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Free Report) by 79.9% during the 1st quarter, HoldingsChannel reports. The firm owned 80,620 shares of the company’s stock after purchasing an additional 35,815 shares during the quarter. WCM Investment Management LLC’s holdings in Rhythm Pharmaceuticals were worth $7,012,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after buying an additional 200 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of Rhythm Pharmaceuticals by 73.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after buying an additional 145 shares during the period. GAMMA Investing LLC grew its stake in Rhythm Pharmaceuticals by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after buying an additional 118 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Rhythm Pharmaceuticals by 39.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after buying an additional 113 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Rhythm Pharmaceuticals by 328.9% in the 4th quarter. Covestor Ltd now owns 579 shares of the company’s stock worth $62,000 after acquiring an additional 444 shares during the period.
Rhythm Pharmaceuticals Price Performance
NASDAQ:RYTM opened at $104.60 on Tuesday. Rhythm Pharmaceuticals, Inc. has a one year low of $74.50 and a one year high of $122.20. The company has a fifty day moving average price of $97.99 and a 200 day moving average price of $95.80. The stock has a market cap of $7.17 billion, a P/E ratio of -33.42 and a beta of 1.88.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on RYTM shares. Stifel Nicolaus set a $133.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, June 15th. TD Cowen reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Wall Street Zen raised Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Royal Bank Of Canada boosted their price objective on Rhythm Pharmaceuticals from $137.00 to $141.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 21st. Fourteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $138.29.
Check Out Our Latest Analysis on Rhythm Pharmaceuticals
Insider Activity at Rhythm Pharmaceuticals
In related news, Director Lynn A. Tetrault sold 37,000 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $100.32, for a total value of $3,711,840.00. Following the completion of the sale, the director owned 7,000 shares in the company, valued at approximately $702,240. This trade represents a 84.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 5.90% of the company’s stock.
About Rhythm Pharmaceuticals
Rhythm Pharmaceuticals, Inc is a clinicalâstage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortinâ4 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.
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