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

Squarepoint Ops LLC raised its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 60.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 422,921 shares of the company’s stock after purchasing an additional 159,953 shares during the period. Squarepoint Ops LLC owned approximately 0.62% of Rhythm Pharmaceuticals worth $46,957,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Rhythm Pharmaceuticals by 36.3% during the 2nd quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after buying an additional 97 shares during the period. Xponance LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 2.6% in the fourth quarter. Xponance LLC now owns 4,269 shares of the company’s stock valued at $457,000 after buying an additional 107 shares during the period. Smartleaf Asset Management LLC increased its position 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 worth $43,000 after acquiring an additional 113 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Rhythm Pharmaceuticals by 0.7% during the second quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock worth $1,104,000 after acquiring an additional 114 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its holdings 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 worth $37,000 after acquiring an additional 145 shares during the period.

Rhythm Pharmaceuticals Trading Down 0.9%

NASDAQ RYTM opened at $101.80 on Wednesday. The firm has a market capitalization of $6.98 billion, a P/E ratio of -32.73 and a beta of 1.97. The firm’s fifty day moving average price is $109.26 and its two-hundred day moving average price is $97.12. Rhythm Pharmaceuticals, Inc. has a 1 year low of $74.50 and a 1 year high of $122.20.

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

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Alastair Garfield sold 7,763 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $117.57, for a total value of $912,695.91. Following the completion of the sale, the insider owned 2,295 shares of the company’s stock, valued at $269,823.15. The trade was a 77.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hunter Smith sold 62,774 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $105.46, for a total value of $6,620,146.04. Following the completion of the sale, the chief financial officer owned 114,024 shares of the company’s stock, valued at approximately $12,024,971.04. This trade represents a 35.51% decrease in their ownership of the stock. 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 have sold a total of 245,450 shares of company stock valued at $27,374,837 in the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Stifel Nicolaus set a $133.00 price target on Rhythm Pharmaceuticals in a research note on Monday, June 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Friday, July 17th. JPMorgan Chase & Co. lifted their target price on Rhythm Pharmaceuticals from $145.00 to $146.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Citizens Jmp boosted their target price on Rhythm Pharmaceuticals from $155.00 to $160.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 5th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Fifteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $141.12.

About Rhythm Pharmaceuticals

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.