Inceptionr LLC Buys New Shares in Rhythm Pharmaceuticals, Inc. $RYTM

Inceptionr LLC purchased a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,482 shares of the company’s stock, valued at approximately $756,000.

Several other large investors have also modified their holdings of the stock. Nisa Investment Advisors LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 956.9% during the third quarter. Nisa Investment Advisors LLC now owns 13,254 shares of the company’s stock valued at $1,339,000 after purchasing an additional 12,000 shares during the last quarter. EFG Asset Management North America Corp. acquired a new position in shares of Rhythm Pharmaceuticals in the third quarter worth about $2,047,000. Penserra Capital Management LLC purchased a new position in shares of Rhythm Pharmaceuticals in the third quarter worth approximately $3,073,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter valued at approximately $4,302,000. Finally, Norges Bank acquired a new position in Rhythm Pharmaceuticals in the 2nd quarter worth approximately $13,105,000.

Rhythm Pharmaceuticals Trading Down 0.6%

Shares of Rhythm Pharmaceuticals stock opened at $93.00 on Tuesday. Rhythm Pharmaceuticals, Inc. has a 1 year low of $45.90 and a 1 year high of $122.20. The company’s fifty day simple moving average is $101.52 and its 200-day simple moving average is $103.32. The company has a market cap of $6.35 billion, a price-to-earnings ratio of -29.90 and a beta of 2.06.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.06. Rhythm Pharmaceuticals had a negative net margin of 103.57% and a negative return on equity of 266.56%. The business had revenue of $57.25 million for the quarter, compared to analyst estimates of $56.16 million. During the same quarter in the previous year, the firm posted ($0.72) earnings per share. Rhythm Pharmaceuticals’s revenue was up 36.9% compared to the same quarter last year. As a group, research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Insider Transactions at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 3,350 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $111.00, for a total transaction of $371,850.00. Following the completion of the transaction, the insider owned 20,814 shares of the company’s stock, valued at approximately $2,310,354. This represents a 13.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christopher Paul German sold 5,614 shares of the stock in a transaction dated Wednesday, March 4th. The shares were 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 of the company’s stock, valued at approximately $14,329.60. The trade was a 97.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 30,617 shares of company stock worth $3,091,805. 6.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RYTM shares. Citizens Jmp lifted their price target on Rhythm Pharmaceuticals from $167.00 to $176.00 and gave the company a “market outperform” rating in a report on Friday, February 27th. Stifel Nicolaus set a $131.00 target price on shares of Rhythm Pharmaceuticals in a research note on Thursday, February 26th. Wells Fargo & Company reduced their price objective on Rhythm Pharmaceuticals from $145.00 to $136.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Citigroup reissued an “outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, December 12th. Finally, UBS Group reissued a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.07.

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.