Xponance Inc. Boosts Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Xponance Inc. increased its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,365 shares of the company’s stock after purchasing an additional 197 shares during the quarter. Xponance Inc.’s holdings in Rhythm Pharmaceuticals were worth $231,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RYTM. Janus Henderson Group PLC grew its holdings in Rhythm Pharmaceuticals by 103.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company’s stock worth $68,309,000 after acquiring an additional 621,432 shares during the period. Marshall Wace LLP grew its holdings in Rhythm Pharmaceuticals by 70.4% during the fourth quarter. Marshall Wace LLP now owns 692,803 shares of the company’s stock worth $38,783,000 after acquiring an additional 286,188 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Rhythm Pharmaceuticals by 24.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 685,152 shares of the company’s stock worth $38,355,000 after acquiring an additional 134,622 shares during the period. Hood River Capital Management LLC grew its holdings in Rhythm Pharmaceuticals by 4.7% during the fourth quarter. Hood River Capital Management LLC now owns 643,691 shares of the company’s stock worth $36,034,000 after acquiring an additional 29,093 shares during the period. Finally, Northern Trust Corp grew its holdings in Rhythm Pharmaceuticals by 9.4% during the fourth quarter. Northern Trust Corp now owns 545,314 shares of the company’s stock worth $30,527,000 after acquiring an additional 46,848 shares during the period.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 15,572 shares of the company’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $77.13, for a total value of $1,201,068.36. Following the transaction, the insider directly owned 19,209 shares of the company’s stock, valued at $1,481,590.17. This represents a 44.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Hunter C. Smith sold 42,120 shares of the company’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $80.48, for a total value of $3,389,817.60. Following the sale, the chief financial officer owned 116,915 shares of the company’s stock, valued at approximately $9,409,319.20. This trade represents a 26.48% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,673 shares of company stock worth $7,118,510. Insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

RYTM has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Thursday, June 26th. Leerink Partnrs upgraded Rhythm Pharmaceuticals to a “strong-buy” rating in a research note on Monday, July 7th. Wells Fargo & Company increased their target price on Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Morgan Stanley set a $95.00 target price on Rhythm Pharmaceuticals and gave the company an “overweight” rating in a research note on Wednesday, July 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $95.00 price objective (up previously from $72.00) on shares of Rhythm Pharmaceuticals in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.93.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $89.20 on Friday. The business’s fifty day moving average price is $67.14 and its two-hundred day moving average price is $60.47. The company has a market capitalization of $5.67 billion, a P/E ratio of -31.74 and a beta of 2.26. Rhythm Pharmaceuticals, Inc. has a 1-year low of $40.61 and a 1-year high of $94.80.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Wednesday, May 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.12). The company had revenue of $37.72 million during the quarter, compared to analyst estimates of $40.43 million. Rhythm Pharmaceuticals had a negative return on equity of 739.62% and a negative net margin of 123.26%. The business’s revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.35) earnings per share. On average, research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.