State of Wyoming Acquires Shares of 6,354 Rhythm Pharmaceuticals, Inc. $RYTM

State of Wyoming acquired a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 6,354 shares of the company’s stock, valued at approximately $705,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RYTM. EverSource Wealth Advisors LLC raised its position in shares of 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 in the last quarter. SBI Securities Co. Ltd. boosted its position 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 in the last quarter. GAMMA Investing LLC boosted its position in shares of Rhythm Pharmaceuticals by 36.3% during 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 grew its stake in Rhythm Pharmaceuticals by 39.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock worth $43,000 after purchasing an additional 113 shares during the period. Finally, Covestor Ltd grew its stake 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 purchasing an additional 444 shares during the period.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock opened at $115.48 on Monday. Rhythm Pharmaceuticals, Inc. has a twelve month low of $74.50 and a twelve month high of $122.20. The company has a market capitalization of $7.91 billion, a P/E ratio of -37.13 and a beta of 1.92. The stock’s 50 day moving average is $105.44 and its 200 day moving average is $96.40.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, August 4th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate 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 business had revenue of $71.25 million for the quarter, compared to the consensus estimate of $67.66 million. During the same period in the previous year, the company posted ($0.75) earnings per share. The company’s revenue for the quarter was up 46.9% compared to the same quarter last year. As a group, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -2.82 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RYTM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Friday, July 17th. Stifel Nicolaus set a $133.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, June 15th. JPMorgan Chase & Co. upped their target price 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. Citigroup reiterated a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada lifted their price target on shares of Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Fifteen equities research 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.44.

Insider Transactions at Rhythm Pharmaceuticals

In other news, Director Lynn A. Tetrault sold 37,000 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $100.32, for a total value of $3,711,840.00. Following the completion of the transaction, the director owned 7,000 shares of the company’s stock, valued at $702,240. The trade was a 84.09% decrease in their position. The transaction 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, EVP Yann Mazabraud sold 57,000 shares of the company’s 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 completion of the transaction, the executive vice president owned 55,655 shares in the company, valued at approximately $6,464,328.25. The trade was a 50.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 169,834 shares of company stock valued at $19,233,785 in the last quarter. 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.