Exchange Traded Concepts LLC Buys Shares of 6,386 Rhythm Pharmaceuticals, Inc. $RYTM

Exchange Traded Concepts LLC purchased a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 6,386 shares of the company’s stock, valued at approximately $645,000.

A number of other large investors also recently modified their holdings of RYTM. Osaic Holdings Inc. grew its stake in shares of Rhythm Pharmaceuticals by 65.9% in the second quarter. Osaic Holdings Inc. now owns 979 shares of the company’s stock worth $62,000 after acquiring an additional 389 shares during the last quarter. State of Wyoming bought a new stake in Rhythm Pharmaceuticals in the 2nd quarter valued at $67,000. Tower Research Capital LLC TRC grew its position in Rhythm Pharmaceuticals by 477.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,111 shares of the company’s stock worth $386,000 after purchasing an additional 5,053 shares during the last quarter. E Fund Management Co. Ltd. increased its holdings in shares of Rhythm Pharmaceuticals by 6.8% during the 2nd quarter. E Fund Management Co. Ltd. now owns 5,761 shares of the company’s stock worth $364,000 after purchasing an additional 365 shares during the period. Finally, Captrust Financial Advisors raised its position in shares of Rhythm Pharmaceuticals by 0.7% during the second quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock valued at $1,104,000 after buying an additional 114 shares during the last quarter.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock opened at $112.55 on Tuesday. The firm has a market capitalization of $7.51 billion, a P/E ratio of -36.31 and a beta of 1.96. The stock has a fifty day moving average price of $107.01 and a two-hundred day moving average price of $96.15. Rhythm Pharmaceuticals, Inc. has a 52-week low of $45.90 and a 52-week high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Tuesday, November 4th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.10). Rhythm Pharmaceuticals had a negative net margin of 110.32% and a negative return on equity of 433.21%. The firm had revenue of $51.30 million during the quarter, compared to analyst estimates of $50.71 million. On average, equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Insider Activity

In related news, insider Pamela J. Cramer sold 3,350 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $111.00, for a total transaction of $371,850.00. Following the sale, the insider directly owned 20,814 shares in the company, valued at $2,310,354. This represents a 13.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Shulman sold 9,748 shares of the firm’s stock in a transaction on Thursday, October 30th. The shares were 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 of the company’s stock, valued at $980,577.16. This represents a 53.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,350 shares of company stock worth $3,436,340 over the last ninety days. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RYTM. HC Wainwright lifted their target price on Rhythm Pharmaceuticals from $110.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Cowen reissued a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, December 11th. Citizens Jmp upped their target price on Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the company a “market outperform” rating in a research note on Friday, December 12th. UBS Group reaffirmed a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 17th. Finally, The Goldman Sachs Group boosted their price target on shares of Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the company a “buy” rating in a report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.47.

Rhythm Pharmaceuticals Company 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.