Orbimed Advisors LLC Raises Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Orbimed Advisors LLC lifted its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 31.0% during the first quarter, Holdings Channel reports. The firm owned 314,100 shares of the company’s stock after acquiring an additional 74,300 shares during the quarter. Orbimed Advisors LLC’s holdings in Rhythm Pharmaceuticals were worth $27,317,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Xponance LLC grew its stake in Rhythm Pharmaceuticals by 2.6% during the 4th quarter. Xponance LLC now owns 4,269 shares of the company’s stock worth $457,000 after buying an additional 107 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Rhythm Pharmaceuticals by 39.5% during 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. Captrust Financial Advisors lifted its stake in Rhythm Pharmaceuticals by 0.7% in the second quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock valued at $1,104,000 after buying an additional 114 shares during the last quarter. GAMMA Investing LLC lifted its stake in Rhythm Pharmaceuticals by 48.6% in the fourth 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. Finally, SBI Securities Co. Ltd. grew its position in shares of Rhythm Pharmaceuticals by 73.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 145 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RYTM. Stifel Nicolaus set a $133.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, June 15th. Citigroup reissued a “market outperform” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 3rd. Canaccord Genuity Group boosted their price target on Rhythm Pharmaceuticals from $143.00 to $151.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, July 17th. Finally, Wells Fargo & Company increased their price objective on Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.29.

Insider Transactions at Rhythm Pharmaceuticals

In related news, Director Lynn A. Tetrault sold 37,000 shares of the firm’s 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 $702,240. This trade represents a 84.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is owned by corporate insiders.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock opened at $102.10 on Monday. The company has a market cap of $7.00 billion, a P/E ratio of -32.62 and a beta of 1.88. Rhythm Pharmaceuticals, Inc. has a one year low of $74.50 and a one year high of $122.20. The firm has a fifty day moving average of $98.91 and a two-hundred day moving average of $95.76.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.03. The business had revenue of $60.11 million for the quarter, compared to the consensus estimate of $55.78 million. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The business’s quarterly revenue was up 83.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.81) earnings per share. As a group, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -3.1 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.