AXQ Capital LP Purchases Shares of 4,560 Rhythm Pharmaceuticals, Inc. $RYTM

AXQ Capital LP purchased a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,560 shares of the company’s stock, valued at approximately $288,000.

A number of other institutional investors have also made changes to their positions in RYTM. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Rhythm Pharmaceuticals during the 1st quarter valued at approximately $34,000. CWM LLC increased its position in Rhythm Pharmaceuticals by 92.3% in the 1st quarter. CWM LLC now owns 2,584 shares of the company’s stock worth $137,000 after buying an additional 1,240 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rhythm Pharmaceuticals by 16.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,458 shares of the company’s stock worth $155,000 after buying an additional 342 shares during the last quarter. Bayforest Capital Ltd bought a new stake in shares of Rhythm Pharmaceuticals in the first quarter valued at approximately $166,000. Finally, Freestone Capital Holdings LLC bought a new stake in shares of Rhythm Pharmaceuticals in the second quarter valued at approximately $234,000.

Rhythm Pharmaceuticals Stock Performance

NASDAQ:RYTM opened at $106.58 on Tuesday. The company has a 50-day moving average of $102.93 and a 200-day moving average of $87.89. Rhythm Pharmaceuticals, Inc. has a 52 week low of $45.90 and a 52 week high of $116.00. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of -35.41 and a beta of 2.12.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, November 4th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%. The business had revenue of $51.30 million during the quarter, compared to the consensus estimate of $50.71 million. Sell-side analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RYTM shares. JMP Securities boosted their target price on shares of Rhythm Pharmaceuticals from $135.00 to $142.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 25th. Citigroup restated an “outperform” rating on shares of Rhythm Pharmaceuticals in a research report on Thursday, September 25th. HC Wainwright boosted their price objective on shares of Rhythm Pharmaceuticals from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Needham & Company LLC increased their target price on shares of Rhythm Pharmaceuticals from $95.00 to $122.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Oppenheimer downgraded Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.23.

Insiders Place Their Bets

In other news, insider Joseph Shulman sold 9,748 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $115.24, for a total value of $1,123,359.52. Following the sale, the insider directly owned 8,509 shares in the company, valued at approximately $980,577.16. This represents a 53.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 27,000 shares of company stock worth $3,064,490 over the last 90 days. 6.10% of the stock is currently owned by insiders.

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.