Leo Wealth LLC Has $850,000 Stock Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Leo Wealth LLC decreased its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 16.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,445 shares of the company’s stock after selling 2,555 shares during the period. Leo Wealth LLC’s holdings in Rhythm Pharmaceuticals were worth $850,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in Rhythm Pharmaceuticals by 1,386.2% during the first quarter. PNC Financial Services Group Inc. now owns 4,518 shares of the company’s stock worth $239,000 after buying an additional 4,214 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Rhythm Pharmaceuticals by 3.6% in the first quarter. Rhumbline Advisers now owns 85,719 shares of the company’s stock valued at $4,541,000 after purchasing an additional 2,988 shares during the last quarter. Siren L.L.C. purchased a new stake in shares of Rhythm Pharmaceuticals in the first quarter valued at about $14,701,000. Voleon Capital Management LP purchased a new stake in shares of Rhythm Pharmaceuticals in the first quarter valued at about $732,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Rhythm Pharmaceuticals in the first quarter valued at about $1,042,000.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. HC Wainwright increased their target price on shares of Rhythm Pharmaceuticals from $100.00 to $110.00 and gave the company a “buy” rating in a report on Monday, September 29th. The Goldman Sachs Group increased their target price on shares of Rhythm Pharmaceuticals from $105.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company increased their target price on shares of Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Leerink Partners assumed coverage on shares of Rhythm Pharmaceuticals in a report on Monday, July 7th. They issued an “outperform” rating and a $88.00 target price for the company. Finally, Bank of America increased their target price on shares of Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $106.64.

Rhythm Pharmaceuticals Stock Performance

NASDAQ RYTM opened at $100.21 on Friday. Rhythm Pharmaceuticals, Inc. has a 52-week low of $45.90 and a 52-week high of $106.52. The company has a 50-day simple moving average of $98.32 and a 200 day simple moving average of $77.06. The company has a market capitalization of $6.66 billion, a PE ratio of -33.29 and a beta of 2.12.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.09). Rhythm Pharmaceuticals had a negative return on equity of 1,831.43% and a negative net margin of 117.13%.The company had revenue of $48.50 million for the quarter, compared to analysts’ expectations of $43.72 million. During the same quarter last year, the business posted ($0.55) EPS. The business’s quarterly revenue was up 66.8% on a year-over-year basis. As a group, analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 4,188 shares of Rhythm Pharmaceuticals stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $100.07, for a total value of $419,093.16. Following the completion of the transaction, the insider owned 8,509 shares in the company, valued at $851,495.63. This trade represents a 32.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher Paul German sold 1,500 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $95.00, for a total transaction of $142,500.00. Following the completion of the transaction, the chief accounting officer owned 922 shares of the company’s stock, valued at $87,590. The trade was a 61.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,280 shares of company stock worth $3,755,655. 6.10% of the stock is currently 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.