Polar Capital Holdings Plc Decreases Stock Position in Rhythm Pharmaceuticals, Inc. $RYTM

Polar Capital Holdings Plc decreased its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,185,392 shares of the company’s stock after selling 59,540 shares during the quarter. Polar Capital Holdings Plc owned 1.78% of Rhythm Pharmaceuticals worth $126,884,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of Rhythm Pharmaceuticals by 148.2% in the first quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock valued at $2,085,000 after purchasing an additional 23,506 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 worth $1,874,000 after buying an additional 2,126 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Rhythm Pharmaceuticals by 62.9% in the 2nd quarter. Prudential Financial Inc. now owns 7,095 shares of the company’s stock worth $423,000 after buying an additional 2,740 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in Rhythm Pharmaceuticals by 11.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 240,345 shares of the company’s stock valued at $15,187,000 after buying an additional 24,152 shares during the last quarter. Finally, Sei Investments Co. grew its stake 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 valued at $2,095,000 after acquiring an additional 3,004 shares in the last quarter.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock opened at $89.72 on Wednesday. Rhythm Pharmaceuticals, Inc. has a 1 year low of $60.70 and a 1 year high of $122.20. The firm’s 50-day simple moving average is $88.10 and its 200-day simple moving average is $95.99. The firm has a market cap of $6.15 billion, a PE ratio of -28.66 and a beta of 1.91.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The business had revenue of $60.11 million during the quarter, compared to the consensus estimate of $55.78 million. During the same period last year, the firm earned ($0.81) earnings per share. The company’s revenue for the quarter was up 83.8% compared to the same quarter last year. On average, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -3.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RYTM shares. Canaccord Genuity Group lifted their target price on Rhythm Pharmaceuticals from $143.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday. Telsey Advisory Group set a $143.00 price target on Rhythm Pharmaceuticals in a report on Thursday, March 12th. Jefferies Financial Group restated a “buy” rating and set a $125.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, March 3rd. Needham & Company LLC dropped their price objective on Rhythm Pharmaceuticals from $139.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. Finally, Wall Street Zen raised Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.13.

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.