Profund Advisors LLC Increases Position in Rhythm Pharmaceuticals, Inc. $RYTM

Profund Advisors LLC increased its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 68.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 21,046 shares of the company’s stock after acquiring an additional 8,589 shares during the quarter. Profund Advisors LLC’s holdings in Rhythm Pharmaceuticals were worth $2,253,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in RYTM. Mirae Asset Global Investments Co. Ltd. increased its holdings in Rhythm Pharmaceuticals by 4.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,568 shares of the company’s stock valued at $259,000 after acquiring an additional 110 shares in the last quarter. Captrust Financial Advisors increased its holdings in Rhythm Pharmaceuticals by 0.7% during the 2nd quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock valued at $1,104,000 after acquiring an additional 114 shares in the last quarter. GAMMA Investing LLC increased its holdings in Rhythm Pharmaceuticals by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after acquiring an additional 118 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Rhythm Pharmaceuticals by 97.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after acquiring an additional 141 shares in the last quarter. Finally, Optiver Holding B.V. increased its holdings in Rhythm Pharmaceuticals by 65.2% during 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.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Jefferies Financial Group restated a “buy” rating and set a $125.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, March 3rd. Telsey Advisory Group set a $143.00 target price on shares of Rhythm Pharmaceuticals in a report on Thursday, March 12th. Zacks Research upgraded shares of Rhythm Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. Citizens Jmp dropped their target price on shares of Rhythm Pharmaceuticals from $176.00 to $152.00 and set a “market outperform” rating for the company in a report on Tuesday, March 17th. Finally, Morgan Stanley dropped their target price on shares of Rhythm Pharmaceuticals from $150.00 to $136.00 and set an “overweight” rating for the company in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned 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, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $131.81.

Insider Buying and Selling

In other news, CAO Christopher Paul German sold 5,614 shares of Rhythm Pharmaceuticals stock in a transaction that occurred 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 sale, the chief accounting officer owned 160 shares in the company, valued at $14,329.60. This trade represents a 97.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Hunter C. Smith sold 4,385 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $101.26, for a total transaction of $444,025.10. Following the sale, the chief financial officer owned 110,512 shares in the company, valued at $11,190,445.12. This represents a 3.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 5.90% of the company’s stock.

Rhythm Pharmaceuticals Stock Up 0.4%

Shares of RYTM stock opened at $87.21 on Wednesday. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of -27.86 and a beta of 1.94. The firm’s 50 day moving average price is $87.41 and its two-hundred day moving average price is $98.09. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $58.71 and a fifty-two week high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.03. The company had revenue of $60.11 million for the quarter, compared to analyst estimates of $55.78 million. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The business’s quarterly revenue was up 83.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.81) earnings per share. On average, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -3.05 EPS for the current fiscal year.

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.