Jupiter Topco LLC Acquires Shares of 925,490 Rhythm Pharmaceuticals, Inc. $RYTM

Jupiter Topco LLC acquired a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 925,490 shares of the company’s stock, valued at approximately $102,752,000. Jupiter Topco LLC owned 1.35% of Rhythm Pharmaceuticals at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in Rhythm Pharmaceuticals by 303.0% during the fourth 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 stake in shares of Rhythm Pharmaceuticals by 73.2% in the 4th 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 stake in shares of Rhythm Pharmaceuticals by 36.3% in the 2nd 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 holdings in shares of Rhythm Pharmaceuticals by 39.5% in the 4th 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 last quarter. Finally, Global Retirement Partners LLC bought a new stake in shares of Rhythm Pharmaceuticals in the 2nd quarter worth about $51,000.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Citigroup reissued a “market outperform” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 5th. Citizens Jmp upped their price objective on shares of Rhythm Pharmaceuticals from $155.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 5th. National Bank Financial set a $160.00 price objective on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 5th. TD Cowen reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Finally, Wall Street Zen raised Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Fifteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.44.

Insider Transactions at Rhythm Pharmaceuticals

In other news, EVP Yann Mazabraud sold 57,000 shares of the firm’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 sale, the executive vice president owned 55,655 shares of the company’s stock, valued at $6,464,328.25. This trade represents a 50.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jennifer Kayden Lee sold 75,834 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $117.38, for a total transaction of $8,901,394.92. Following the completion of the sale, the executive vice president directly owned 54,233 shares in the company, valued at $6,365,869.54. This represents a 58.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 182,676 shares of company stock valued at $20,754,691. Insiders own 5.90% of the company’s stock.

Rhythm Pharmaceuticals Stock Performance

RYTM opened at $111.87 on Thursday. The firm’s fifty day moving average is $109.26 and its two-hundred day moving average is $96.82. The firm has a market cap of $7.67 billion, a PE ratio of -35.97 and a beta of 1.92. Rhythm Pharmaceuticals, Inc. has a twelve month low of $74.50 and a twelve month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative net margin of 85.59% and a negative return on equity of 159.87%. The company had revenue of $71.25 million during the quarter, compared to analyst estimates of $67.66 million. During the same quarter in the previous year, the business earned ($0.75) EPS. The firm’s revenue was up 46.9% on a year-over-year basis. Equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -2.82 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.