Rhythm Pharmaceuticals, Inc. $RYTM is Rock Springs Capital Management LP’s 6th Largest Position

Rock Springs Capital Management LP lowered its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 0.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 689,748 shares of the company’s stock after selling 5,262 shares during the quarter. Rhythm Pharmaceuticals comprises about 3.5% of Rock Springs Capital Management LP’s holdings, making the stock its 6th largest position. Rock Springs Capital Management LP’s holdings in Rhythm Pharmaceuticals were worth $59,987,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in Rhythm Pharmaceuticals by 303.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares during the period. SBI Securities Co. Ltd. raised its stake 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 valued at $37,000 after purchasing an additional 145 shares during the period. GAMMA Investing LLC raised its stake in shares of Rhythm Pharmaceuticals by 48.6% during the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after purchasing an additional 118 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of 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 purchasing an additional 113 shares during the period. Finally, Osaic Holdings Inc. lifted its position in shares of Rhythm Pharmaceuticals by 65.9% during the second quarter. Osaic Holdings Inc. now owns 979 shares of the company’s stock worth $62,000 after purchasing an additional 389 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RYTM. Weiss Ratings restated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, July 17th. Citigroup reaffirmed a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 3rd. Stifel Nicolaus set a $133.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, June 15th. Royal Bank Of Canada upped their price objective on shares of Rhythm Pharmaceuticals from $137.00 to $141.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Finally, Wells Fargo & Company upped their price objective 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. Fifteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $138.73.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 37,000 shares of the stock in a transaction 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 directly owned 7,000 shares in the company, valued at $702,240. This represents a 84.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 Up 3.9%

Shares of RYTM opened at $106.13 on Tuesday. The business’s 50 day moving average is $99.30 and its two-hundred day moving average is $95.80. Rhythm Pharmaceuticals, Inc. has a 52-week low of $74.50 and a 52-week high of $122.20. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of -33.91 and a beta of 1.88.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, May 5th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The company had revenue of $60.11 million during the quarter, compared to analysts’ expectations of $55.78 million. During the same period in the prior year, the business posted ($0.81) EPS. The business’s revenue was up 83.8% on a year-over-year basis. On average, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -3.1 earnings per share for the current fiscal year.

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.