Primecap Management Co. CA acquired a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,168,853 shares of the company’s stock, valued at approximately $351,838,000. Primecap Management Co. CA owned about 4.62% of Rhythm Pharmaceuticals at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RYTM. EverSource Wealth Advisors LLC lifted its position in Rhythm Pharmaceuticals by 303.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. SBI Securities Co. Ltd. increased its position in Rhythm Pharmaceuticals by 73.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after buying an additional 145 shares in the last quarter. GAMMA Investing LLC increased its position in Rhythm Pharmaceuticals by 36.3% in the second quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after buying an additional 97 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Rhythm Pharmaceuticals by 39.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock worth $43,000 after buying an additional 113 shares during the period. Finally, Global Retirement Partners LLC bought a new position in shares of Rhythm Pharmaceuticals in the second quarter worth about $51,000.
Insider Buying and Selling
In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 57,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $116.15, for a total transaction of $6,620,550.00. Following the completion of the transaction, the executive vice president owned 55,655 shares of the company’s stock, valued at $6,464,328.25. This represents a 50.60% decrease in their position. The transaction 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 Rhythm Pharmaceuticals stock in a transaction dated 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 completion of the sale, the director directly owned 7,000 shares in the company, valued at $702,240. This trade represents a 84.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 182,676 shares of company stock worth $20,754,691 in the last 90 days. 5.90% of the stock is owned by company insiders.
Analyst Ratings Changes
View Our Latest Report on RYTM
Rhythm Pharmaceuticals Price Performance
Rhythm Pharmaceuticals stock opened at $113.35 on Wednesday. The stock has a market cap of $7.77 billion, a P/E ratio of -36.45 and a beta of 1.92. Rhythm Pharmaceuticals, Inc. has a 1 year low of $74.50 and a 1 year high of $122.20. The firm’s 50 day moving average price is $108.94 and its 200-day moving average price is $96.76.
Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share for the quarter, topping 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 firm had revenue of $71.25 million during the quarter, compared to analyst estimates of $67.66 million. During the same quarter in the prior year, the business earned ($0.75) earnings per share. Rhythm Pharmaceuticals’s revenue for the quarter was up 46.9% on a year-over-year basis. As a group, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -2.82 EPS 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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