Rhythm Pharmaceuticals, Inc. $RYTM Shares Bought by Entropy Technologies LP

Entropy Technologies LP boosted its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 314.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 10,318 shares of the company’s stock after purchasing an additional 7,826 shares during the quarter. Entropy Technologies LP’s holdings in Rhythm Pharmaceuticals were worth $897,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 303.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. SBI Securities Co. Ltd. increased 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 worth $37,000 after acquiring an additional 145 shares during the period. GAMMA Investing LLC raised its holdings in shares of Rhythm Pharmaceuticals by 48.6% during the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock worth $39,000 after purchasing an additional 118 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Rhythm Pharmaceuticals by 39.5% during the fourth 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, Covestor Ltd lifted its position in Rhythm Pharmaceuticals by 328.9% during the fourth quarter. Covestor Ltd now owns 579 shares of the company’s stock valued at $62,000 after purchasing an additional 444 shares during the period.

Analyst Upgrades and Downgrades

RYTM has been the topic of several recent research reports. Wall Street Zen raised shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. began coverage on Rhythm Pharmaceuticals in a research note on Monday. They set an “overweight” rating and a $145.00 price objective for the company. Wells Fargo & Company boosted their price objective on Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Citigroup restated a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 3rd. Finally, Royal Bank Of Canada raised their target price on Rhythm Pharmaceuticals from $137.00 to $141.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Fifteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $138.73.

Rhythm Pharmaceuticals Price Performance

RYTM opened at $108.04 on Wednesday. The firm has a fifty day moving average price of $99.72 and a 200 day moving average price of $95.85. Rhythm Pharmaceuticals, Inc. has a 1 year low of $74.50 and a 1 year high of $122.20. The stock has a market cap of $7.40 billion, a P/E ratio of -34.52 and a beta of 1.88.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released 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. The company had revenue of $60.11 million for the quarter, compared to analyst estimates of $55.78 million. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The firm’s revenue was up 83.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.81) earnings per share. Equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -3.1 EPS for the current year.

Insider Activity

In other news, Director Lynn A. Tetrault sold 37,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the sale, the director directly owned 7,000 shares in the company, valued at $702,240. This trade represents a 84.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is currently 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.