Granahan Investment Management LLC Has $5.02 Million Stake in Rhythm Pharmaceuticals, Inc. $RYTM

Granahan Investment Management LLC grew its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 20.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,728 shares of the company’s stock after purchasing an additional 8,556 shares during the period. Granahan Investment Management LLC’s holdings in Rhythm Pharmaceuticals were worth $5,022,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of Rhythm Pharmaceuticals by 97.2% during the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after buying an additional 141 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Rhythm Pharmaceuticals by 1,110.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock valued at $35,000 after acquiring an additional 322 shares in the last quarter. Optiver Holding B.V. lifted its stake in Rhythm Pharmaceuticals by 65.2% in the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock valued at $37,000 after acquiring an additional 144 shares in the last quarter. Osaic Holdings Inc. boosted its position in Rhythm Pharmaceuticals by 65.9% during the 2nd quarter. Osaic Holdings Inc. now owns 979 shares of the company’s stock worth $62,000 after acquiring an additional 389 shares during the last quarter. Finally, State of Wyoming acquired a new position in Rhythm Pharmaceuticals during the 2nd quarter worth approximately $67,000.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 4,385 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $101.26, for a total value of $444,025.10. Following the completion of the sale, the chief financial officer owned 110,512 shares in the company, valued at $11,190,445.12. This trade represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Christopher Paul German sold 5,614 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $89.56, for a total transaction of $502,789.84. Following the completion of the sale, the chief accounting officer owned 160 shares of the company’s stock, valued at approximately $14,329.60. This represents a 97.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 27,267 shares of company stock worth $2,719,955 over the last ninety days. Insiders own 6.10% of the company’s stock.

Rhythm Pharmaceuticals Stock Down 4.1%

NASDAQ:RYTM opened at $87.38 on Monday. Rhythm Pharmaceuticals, Inc. has a twelve month low of $45.90 and a twelve month high of $122.20. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of -28.10 and a beta of 2.06. The stock’s 50 day moving average price is $100.23 and its two-hundred day moving average price is $103.01.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.06. Rhythm Pharmaceuticals had a negative return on equity of 266.56% and a negative net margin of 103.57%.The company had revenue of $57.25 million during the quarter, compared to the consensus estimate of $56.16 million. During the same quarter in the prior year, the firm posted ($0.72) EPS. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. As a group, analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analyst Ratings Changes

RYTM has been the topic of a number of recent research reports. Royal Bank Of Canada assumed coverage on shares of Rhythm Pharmaceuticals in a report on Wednesday, February 18th. They issued an “outperform” rating and a $145.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of Rhythm Pharmaceuticals from $136.00 to $143.00 and gave the stock an “overweight” rating in a report on Thursday. Stifel Nicolaus set a $131.00 target price on shares of Rhythm Pharmaceuticals in a research report on Thursday, February 26th. Needham & Company LLC lowered their price target on shares of Rhythm Pharmaceuticals from $148.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, UBS Group reissued a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have given 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 a consensus rating of “Moderate Buy” and a consensus target price of $133.19.

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.