Jupiter Topco LLC Makes New Investment in Rhythm Pharmaceuticals, Inc. $RYTM

Jupiter Topco LLC purchased a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the 2nd quarter, Holdings Channel reports. The firm purchased 925,490 shares of the company’s stock, valued at approximately $102,752,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position 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 purchasing an additional 200 shares in the last quarter. SBI Securities Co. Ltd. grew 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 valued at $37,000 after purchasing an additional 145 shares in the last quarter. GAMMA Investing LLC grew its position in Rhythm Pharmaceuticals by 36.3% in the second quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares in the last quarter. Smartleaf Asset Management LLC increased 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, Global Retirement Partners LLC acquired a new stake in Rhythm Pharmaceuticals in the 2nd quarter valued at $51,000.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Alastair Garfield sold 7,763 shares of Rhythm Pharmaceuticals stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $117.57, for a total value of $912,695.91. Following the completion of the sale, the insider owned 2,295 shares in the company, valued at $269,823.15. The trade was a 77.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Joseph Shulman sold 5,079 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $119.75, for a total transaction of $608,210.25. Following the completion of the sale, the insider owned 15,915 shares of the company’s stock, valued at approximately $1,905,821.25. The trade was a 24.19% 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. Over the last quarter, insiders sold 182,676 shares of company stock worth $20,754,691. 5.90% of the stock is currently owned by company insiders.

Rhythm Pharmaceuticals Stock Down 1.3%

Rhythm Pharmaceuticals stock opened at $111.87 on Thursday. The company’s 50-day moving average price is $109.26 and its two-hundred day moving average price is $96.82. The stock has a market cap of $7.67 billion, a P/E ratio of -35.97 and a beta of 1.92. Rhythm Pharmaceuticals, Inc. has a twelve month low of $74.50 and a twelve month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, August 4th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.08. The company had revenue of $71.25 million for the quarter, compared to the consensus estimate of $67.66 million. Rhythm Pharmaceuticals had a negative return on equity of 159.87% and a negative net margin of 85.59%.The firm’s revenue for the quarter was up 46.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.75) earnings per share. Equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -2.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on RYTM shares. Stifel Nicolaus set a $133.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, June 15th. TD Cowen reaffirmed a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 17th. Royal Bank Of Canada increased their price target on shares of Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Wells Fargo & Company boosted their price objective on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, June 15th. Finally, Citizens Jmp upped their price objective on Rhythm Pharmaceuticals from $155.00 to $160.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 5th. Fifteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.44.

About Rhythm Pharmaceuticals

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.