5,996 Shares in Rhythm Pharmaceuticals, Inc. $RYTM Bought by Walleye Capital LLC

Walleye Capital LLC acquired a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,996 shares of the company’s stock, valued at approximately $666,000.

A number of other large investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its position in Rhythm Pharmaceuticals by 303.0% during the 4th 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 fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 145 shares during the period. GAMMA Investing LLC grew its holdings in Rhythm Pharmaceuticals by 36.3% during 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 increased its stake in Rhythm Pharmaceuticals by 39.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock worth $43,000 after buying an additional 113 shares during the period. Finally, Covestor Ltd lifted its holdings in Rhythm Pharmaceuticals by 328.9% in the 4th quarter. Covestor Ltd now owns 579 shares of the company’s stock worth $62,000 after buying an additional 444 shares in the last quarter.

Rhythm Pharmaceuticals Stock Down 0.5%

Shares of RYTM stock opened at $115.48 on Friday. The company has a market cap of $7.91 billion, a P/E ratio of -37.13 and a beta of 1.92. The business has a 50 day moving average of $105.44 and a two-hundred day moving average of $96.45. Rhythm Pharmaceuticals, Inc. has a 52 week low of $74.50 and a 52 week 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, topping the consensus estimate of ($0.81) by $0.08. The business had revenue of $71.25 million for the quarter, compared to the consensus estimate 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 quarter last year, the business posted ($0.75) EPS. Analysts expect that Rhythm Pharmaceuticals, Inc. will post -2.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citigroup reiterated a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 5th. Royal Bank Of Canada raised their price target on shares of Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Wells Fargo & Company increased their price objective on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. TD Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Finally, Citizens Jmp lifted their price target on Rhythm Pharmaceuticals from $155.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 5th. Fifteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.44.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Jennifer Kayden Lee sold 75,834 shares of Rhythm Pharmaceuticals stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $117.38, for a total transaction of $8,901,394.92. Following the sale, the executive vice president owned 54,233 shares of the company’s stock, valued at $6,365,869.54. The trade was a 58.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lynn A. Tetrault sold 37,000 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $100.32, for a total value of $3,711,840.00. Following the transaction, the director directly owned 7,000 shares in the company, valued at $702,240. This trade represents a 84.09% 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 169,834 shares of company stock worth $19,233,785 in the last ninety days. 5.90% of the stock is owned by insiders.

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.