Rhythm Pharmaceuticals, Inc. $RYTM Shares Acquired by Orbimed Advisors LLC

Orbimed Advisors LLC lifted its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 31.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 314,100 shares of the company’s stock after purchasing an additional 74,300 shares during the period. Orbimed Advisors LLC owned about 0.46% of Rhythm Pharmaceuticals worth $27,317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in Rhythm Pharmaceuticals by 148.2% during the 1st quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock worth $2,085,000 after purchasing an additional 23,506 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Rhythm Pharmaceuticals by 6.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,282 shares of the company’s stock valued at $1,874,000 after purchasing an additional 2,126 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 62.9% in the 2nd quarter. Prudential Financial Inc. now owns 7,095 shares of the company’s stock valued at $423,000 after buying an additional 2,740 shares during the period. Qube Research & Technologies Ltd grew its position in shares of Rhythm Pharmaceuticals by 11.2% during the second quarter. Qube Research & Technologies Ltd now owns 240,345 shares of the company’s stock worth $15,187,000 after buying an additional 24,152 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Rhythm Pharmaceuticals by 10.0% during the second quarter. Sei Investments Co. now owns 33,145 shares of the company’s stock worth $2,095,000 after buying an additional 3,004 shares in the last quarter.

Insiders Place Their Bets

In other news, Director Lynn A. Tetrault sold 37,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the completion of the sale, the director owned 7,000 shares in the company, valued at approximately $702,240. The trade was a 84.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.90% of the company’s stock.

Rhythm Pharmaceuticals Stock Performance

RYTM opened at $102.10 on Monday. Rhythm Pharmaceuticals, Inc. has a one year low of $74.50 and a one year high of $122.20. The company has a market cap of $7.00 billion, a P/E ratio of -32.62 and a beta of 1.88. The business’s 50-day simple moving average is $98.91 and its 200-day simple moving average is $95.76.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.03. The firm had revenue of $60.11 million during the quarter, compared to analysts’ expectations of $55.78 million. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The firm’s revenue was up 83.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.81) earnings per share. As a group, analysts predict that Rhythm Pharmaceuticals, Inc. will post -3.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RYTM. Wall Street Zen raised shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Citigroup reiterated a “market outperform” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 3rd. Royal Bank Of Canada increased their price objective on shares of Rhythm Pharmaceuticals from $137.00 to $141.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Wells Fargo & Company raised their price objective on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Finally, Canaccord Genuity Group lifted their price objective on shares of Rhythm Pharmaceuticals from $143.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Fourteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $138.29.

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.