Squarepoint Ops LLC Purchases 159,953 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Squarepoint Ops LLC increased its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 60.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 422,921 shares of the company’s stock after acquiring an additional 159,953 shares during the quarter. Squarepoint Ops LLC’s holdings in Rhythm Pharmaceuticals were worth $46,957,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in Rhythm Pharmaceuticals by 148.2% during the first quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock worth $2,085,000 after purchasing an additional 23,506 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 worth $1,874,000 after buying an additional 2,126 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Rhythm Pharmaceuticals by 62.9% during the 2nd quarter. Prudential Financial Inc. now owns 7,095 shares of the company’s stock worth $423,000 after buying an additional 2,740 shares during the period. Qube Research & Technologies Ltd increased its stake 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 valued at $15,187,000 after acquiring an additional 24,152 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Rhythm Pharmaceuticals by 10.0% in the 2nd quarter. Sei Investments Co. now owns 33,145 shares of the company’s stock valued at $2,095,000 after acquiring an additional 3,004 shares in the last quarter.

Rhythm Pharmaceuticals Price Performance

RYTM opened at $101.80 on Wednesday. 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 $6.98 billion, a P/E ratio of -32.73 and a beta of 1.97. The company’s 50-day moving average is $109.26 and its 200 day moving average is $97.12.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative return on equity of 159.87% and a negative net margin of 85.59%.The company had revenue of $71.25 million during the quarter, compared to the consensus estimate of $67.66 million. During the same period last year, the business posted ($0.75) earnings per share. Rhythm Pharmaceuticals’s revenue was up 46.9% on a year-over-year basis. On average, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -2.87 earnings per share for the current year.

Insider Transactions at Rhythm Pharmaceuticals

In related news, insider Alastair Garfield sold 7,763 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $117.57, for a total value of $912,695.91. Following the sale, the insider directly owned 2,295 shares in the company, valued at approximately $269,823.15. The trade was a 77.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Yann Mazabraud sold 57,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $116.15, for a total transaction of $6,620,550.00. Following 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 245,450 shares of company stock valued at $27,374,837. 5.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RYTM shares. Royal Bank Of Canada raised their price target on shares of Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. increased their price objective on shares of Rhythm Pharmaceuticals from $145.00 to $146.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. TD Cowen reaffirmed a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 17th. Citizens Jmp upped their price target on Rhythm Pharmaceuticals from $155.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 5th. Finally, National Bank Financial set a $160.00 price target on Rhythm Pharmaceuticals in a report on Wednesday, August 5th. Fifteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $141.12.

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.