Rhythm Pharmaceuticals, Inc. $RYTM Shares Sold by Deutsche Bank AG

Deutsche Bank AG cut its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 10.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 43,779 shares of the company’s stock after selling 4,966 shares during the period. Deutsche Bank AG owned about 0.07% of Rhythm Pharmaceuticals worth $2,319,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Victory Capital Management Inc. boosted its holdings in shares of Rhythm Pharmaceuticals by 1.0% in the 1st quarter. Victory Capital Management Inc. now owns 17,326 shares of the company’s stock valued at $918,000 after buying an additional 174 shares during the period. Xponance Inc. boosted its stake in Rhythm Pharmaceuticals by 4.7% during the 1st quarter. Xponance Inc. now owns 4,365 shares of the company’s stock valued at $231,000 after purchasing an additional 197 shares during the period. Principal Financial Group Inc. boosted its stake in Rhythm Pharmaceuticals by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 37,156 shares of the company’s stock valued at $1,968,000 after purchasing an additional 272 shares during the period. GF Fund Management CO. LTD. boosted its stake in Rhythm Pharmaceuticals by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,573 shares of the company’s stock valued at $83,000 after purchasing an additional 283 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in Rhythm Pharmaceuticals by 2.3% during the 4th quarter. Two Sigma Advisers LP now owns 13,100 shares of the company’s stock valued at $733,000 after purchasing an additional 300 shares during the period.

Rhythm Pharmaceuticals Trading Up 1.6%

Shares of NASDAQ:RYTM opened at $98.70 on Thursday. The company has a 50 day moving average of $80.36 and a 200-day moving average of $65.85. The firm has a market cap of $6.56 billion, a P/E ratio of -32.79 and a beta of 2.38. Rhythm Pharmaceuticals, Inc. has a twelve month low of $43.57 and a twelve month high of $99.04.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.09). The company had revenue of $48.50 million during the quarter, compared to analyst estimates of $43.72 million. Rhythm Pharmaceuticals had a negative return on equity of 1,831.43% and a negative net margin of 117.13%.The company’s revenue was up 66.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.55) earnings per share. Equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Insiders Place Their Bets

In related news, insider Pamela J. Cramer sold 1,520 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $85.93, for a total value of $130,613.60. Following the sale, the insider directly owned 20,814 shares in the company, valued at $1,788,547.02. The trade was a 6.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Christopher Paul German sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $95.00, for a total transaction of $142,500.00. Following the completion of the sale, the chief accounting officer owned 922 shares in the company, valued at $87,590. The trade was a 61.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,989 shares of company stock worth $9,558,460. Company insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Morgan Stanley reissued an “overweight” rating and set a $109.00 target price (up from $100.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, August 5th. Leerink Partnrs raised shares of Rhythm Pharmaceuticals to a “strong-buy” rating in a research note on Monday, July 7th. Guggenheim boosted their target price on shares of Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Bank of America boosted their target price on shares of Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. Finally, Wells Fargo & Company boosted their target price on shares of Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of “Buy” and an average target price of $101.57.

Rhythm Pharmaceuticals 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.