E Fund Management Co. Ltd. acquired a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,751 shares of the company’s stock, valued at approximately $528,000.
Several other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in shares of Rhythm Pharmaceuticals by 148.2% in the first quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock valued at $2,085,000 after acquiring an additional 23,506 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Rhythm Pharmaceuticals by 6.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,282 shares of the company’s stock valued at $1,874,000 after purchasing an additional 2,126 shares during the period. Prudential Financial Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 62.9% in the 2nd quarter. Prudential Financial Inc. now owns 7,095 shares of the company’s stock valued at $423,000 after purchasing an additional 2,740 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Rhythm Pharmaceuticals by 11.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 240,345 shares of the company’s stock worth $15,187,000 after purchasing an additional 24,152 shares during the period. Finally, Sei Investments Co. increased its holdings in Rhythm Pharmaceuticals by 10.0% during the second quarter. Sei Investments Co. now owns 33,145 shares of the company’s stock valued at $2,095,000 after buying an additional 3,004 shares during the period.
Analysts Set New Price Targets
RYTM has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, July 17th. Wall Street Zen raised Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Stifel Nicolaus set a $133.00 price target on Rhythm Pharmaceuticals in a report on Monday, June 15th. Royal Bank Of Canada boosted their price target on Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, Wells Fargo & Company upped their price objective on Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, June 15th. Fifteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $142.44.
Insider Buying and Selling at Rhythm Pharmaceuticals
In other news, EVP Jennifer Kayden Lee sold 75,834 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $117.38, for a total transaction of $8,901,394.92. Following the sale, the executive vice president directly owned 54,233 shares of the company’s stock, valued at $6,365,869.54. The trade was a 58.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lynn A. Tetrault sold 37,000 shares of the company’s stock in a transaction on 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 transaction, the director directly owned 7,000 shares in the company, valued at approximately $702,240. The trade was a 84.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 182,676 shares of company stock valued at $20,754,691. Company insiders own 5.90% of the company’s stock.
Rhythm Pharmaceuticals Stock Performance
Shares of RYTM stock opened at $108.92 on Friday. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $74.50 and a fifty-two week high of $122.20. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of -35.02 and a beta of 1.92. The stock’s 50-day simple moving average is $107.60 and its 200-day simple moving average is $96.69.
Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $71.25 million during the quarter, compared to analyst estimates of $67.66 million. During the same period last year, the firm posted ($0.75) EPS. Rhythm Pharmaceuticals’s revenue was up 46.9% on a year-over-year basis. As a group, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -2.82 earnings per share for the current year.
Rhythm Pharmaceuticals Company Profile
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.
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