Siren L.L.C. Grows Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Siren L.L.C. increased its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 45.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 725,511 shares of the company’s stock after acquiring an additional 225,536 shares during the quarter. Rhythm Pharmaceuticals comprises about 1.7% of Siren L.L.C.’s investment portfolio, making the stock its 20th biggest holding. Siren L.L.C. owned about 1.06% of Rhythm Pharmaceuticals worth $63,098,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in shares of 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% during the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 145 shares in the last quarter. GAMMA Investing LLC increased its position in Rhythm Pharmaceuticals by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after buying an additional 118 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Rhythm Pharmaceuticals by 39.5% during the fourth 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, Covestor Ltd boosted its holdings in Rhythm Pharmaceuticals by 328.9% in the fourth quarter. Covestor Ltd now owns 579 shares of the company’s stock worth $62,000 after acquiring an additional 444 shares in the last quarter.

Analyst Ratings Changes

RYTM has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Friday, July 17th. TD Cowen reaffirmed a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 17th. Citigroup reiterated a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 3rd. Canaccord Genuity Group increased their price target on shares of Rhythm Pharmaceuticals from $143.00 to $151.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Finally, Wells Fargo & Company raised their price target on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Fourteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $138.29.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock opened at $102.66 on Friday. Rhythm Pharmaceuticals, Inc. has a one year low of $74.50 and a one year high of $122.20. The business’s fifty day moving average is $98.68 and its 200 day moving average is $95.75. The stock has a market capitalization of $7.04 billion, a PE ratio of -32.80 and a beta of 1.88.

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

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, Director Lynn A. Tetrault sold 37,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the transaction, the director owned 7,000 shares in the company, valued at $702,240. This 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is owned by insiders.

Rhythm Pharmaceuticals 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.