Integral Health Asset Management LLC Buys 100,000 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Integral Health Asset Management LLC grew its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 83.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 220,000 shares of the company’s stock after buying an additional 100,000 shares during the period. Rhythm Pharmaceuticals comprises approximately 1.5% of Integral Health Asset Management LLC’s holdings, making the stock its 17th biggest position. Integral Health Asset Management LLC’s holdings in Rhythm Pharmaceuticals were worth $22,218,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in Rhythm Pharmaceuticals by 956.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 13,254 shares of the company’s stock worth $1,339,000 after acquiring an additional 12,000 shares in the last quarter. EFG Asset Management North America Corp. bought a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth approximately $2,047,000. Penserra Capital Management LLC purchased a new position in Rhythm Pharmaceuticals during the third quarter valued at approximately $3,073,000. Hillsdale Investment Management Inc. purchased a new position in Rhythm Pharmaceuticals during the third quarter valued at approximately $4,302,000. Finally, Norges Bank bought a new position in shares of Rhythm Pharmaceuticals in the second quarter worth approximately $13,105,000.

Insider Buying and Selling

In related news, CFO Hunter C. Smith sold 4,385 shares of the firm’s 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 transaction, the chief financial officer directly owned 110,512 shares of the company’s stock, valued at approximately $11,190,445.12. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher Paul German sold 5,614 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was 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 in the company, valued at $14,329.60. This represents a 97.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,267 shares of company stock valued at $2,719,955 over the last quarter. Corporate insiders own 6.10% of the company’s stock.

Rhythm Pharmaceuticals Trading Down 4.1%

NASDAQ:RYTM opened at $87.38 on Friday. The business’s 50-day moving average is $100.23 and its 200 day moving average is $102.99. Rhythm Pharmaceuticals, Inc. has a 12 month low of $45.90 and a 12 month high of $122.20. The company has a market capitalization of $5.97 billion, a P/E ratio of -28.10 and a beta of 2.06.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share 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 business had revenue of $57.25 million during the quarter, compared to analysts’ expectations of $56.16 million. During the same quarter last year, the business posted ($0.72) EPS. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. On average, research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RYTM shares. Jefferies Financial Group reissued a “buy” rating and issued a $125.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, March 3rd. Guggenheim upped their target price on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Needham & Company LLC cut their price target on Rhythm Pharmaceuticals from $148.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Royal Bank Of Canada started coverage on Rhythm Pharmaceuticals in a report on Wednesday, February 18th. They set an “outperform” rating and a $145.00 price target on the stock. Finally, TD Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $133.19.

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.