Janus Henderson Group PLC Decreases Stock Position in Rhythm Pharmaceuticals, Inc. $RYTM

Janus Henderson Group PLC decreased its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 18.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 918,153 shares of the company’s stock after selling 207,972 shares during the quarter. Janus Henderson Group PLC’s holdings in Rhythm Pharmaceuticals were worth $79,886,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Xponance LLC lifted its position in shares of Rhythm Pharmaceuticals by 2.6% during the fourth quarter. Xponance LLC now owns 4,269 shares of the company’s stock worth $457,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Rhythm Pharmaceuticals by 39.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after purchasing an additional 113 shares in the last quarter. Captrust Financial Advisors grew 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 purchasing an additional 114 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Rhythm Pharmaceuticals by 73.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after buying an additional 145 shares during the period. Finally, Arizona State Retirement System increased its stake in Rhythm Pharmaceuticals by 0.9% during the 4th quarter. Arizona State Retirement System now owns 15,762 shares of the company’s stock worth $1,687,000 after buying an additional 148 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada upped 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Friday, July 17th. Canaccord Genuity Group boosted their price target on Rhythm Pharmaceuticals from $143.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Wells Fargo & Company increased their price target on Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Finally, JPMorgan Chase & Co. began coverage on Rhythm Pharmaceuticals in a research note on Monday, July 27th. They set an “overweight” rating and a $145.00 price objective for the company. Fifteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $138.73.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 37,000 shares of the firm’s stock in a transaction dated 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 owned 7,000 shares of the company’s stock, valued at $702,240. This trade represents a 84.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is owned by corporate insiders.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM opened at $99.25 on Friday. The company’s fifty day moving average is $100.57 and its two-hundred day moving average is $95.97. Rhythm Pharmaceuticals, Inc. has a 1-year low of $74.50 and a 1-year high of $122.20. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of -31.71 and a beta of 1.88.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The business had revenue of $60.11 million during the quarter, compared to analyst estimates of $55.78 million. During the same period in the previous year, the business posted ($0.81) EPS. The company’s quarterly revenue was up 83.8% on a year-over-year basis. Sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -3.08 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.