Nuveen LLC Makes New $7.80 Million Investment in Rhythm Pharmaceuticals, Inc. $RYTM

Nuveen LLC acquired a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 147,301 shares of the company’s stock, valued at approximately $7,803,000. Nuveen LLC owned about 0.23% of Rhythm Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of RYTM. Raymond James Financial Inc. purchased a new stake in Rhythm Pharmaceuticals during the 4th quarter worth approximately $218,000. Mariner LLC purchased a new stake in Rhythm Pharmaceuticals during the 4th quarter worth approximately $254,000. First Trust Advisors LP increased its holdings in Rhythm Pharmaceuticals by 67.2% during the 4th quarter. First Trust Advisors LP now owns 118,337 shares of the company’s stock worth $6,625,000 after purchasing an additional 47,575 shares during the last quarter. MetLife Investment Management LLC increased its holdings in Rhythm Pharmaceuticals by 5.8% during the 4th quarter. MetLife Investment Management LLC now owns 33,498 shares of the company’s stock worth $1,875,000 after purchasing an additional 1,846 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Rhythm Pharmaceuticals by 1,100.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,539 shares of the company’s stock worth $254,000 after purchasing an additional 4,161 shares during the last quarter.

Rhythm Pharmaceuticals Price Performance

NASDAQ:RYTM opened at $103.27 on Monday. Rhythm Pharmaceuticals, Inc. has a 12-month low of $44.31 and a 12-month high of $104.87. The firm has a market capitalization of $6.86 billion, a P/E ratio of -34.31 and a beta of 2.38. The business has a 50 day simple moving average of $81.94 and a 200 day simple moving average of $66.52.

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

Insider Buying and Selling

In related news, CFO Hunter C. Smith sold 42,120 shares of the business’s stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $80.48, for a total transaction of $3,389,817.60. Following the completion of the transaction, the chief financial officer owned 116,915 shares in the company, valued at $9,409,319.20. The trade was a 26.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Christopher Paul German sold 3,817 shares of the business’s stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $80.75, for a total value of $308,222.75. Following the transaction, the chief accounting officer owned 922 shares of the company’s stock, valued at $74,451.50. This represents a 80.54% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,989 shares of company stock worth $9,558,460. 6.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RYTM has been the subject of several research reports. HC Wainwright lifted their target price on Rhythm Pharmaceuticals from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Wells Fargo & Company lifted their target price on Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Guggenheim lifted their target price on Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Morgan Stanley reiterated an “overweight” rating and issued a $109.00 target price (up previously from $100.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, August 5th. Finally, Leerink Partners initiated coverage on Rhythm Pharmaceuticals in a research report on Monday, July 7th. They issued an “outperform” rating and a $88.00 target price for the company. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. According to MarketBeat, Rhythm Pharmaceuticals currently has an average rating of “Buy” and an average target price of $101.57.

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.