EFG Asset Management North America Corp. Invests $2.05 Million in Rhythm Pharmaceuticals, Inc. $RYTM

EFG Asset Management North America Corp. acquired a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the third quarter, according to its most recent filing with the SEC. The fund acquired 20,269 shares of the company’s stock, valued at approximately $2,047,000.

A number of other large investors have also recently made changes to their positions in RYTM. Farther Finance Advisors LLC lifted its holdings in Rhythm Pharmaceuticals by 1,110.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock worth $35,000 after purchasing an additional 322 shares in the last quarter. Osaic Holdings Inc. lifted its holdings 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 buying an additional 389 shares in the last quarter. State of Wyoming bought a new position in shares of Rhythm Pharmaceuticals in the second quarter valued at approximately $67,000. Bayforest Capital Ltd increased its holdings in Rhythm Pharmaceuticals by 909.5% during the 3rd quarter. Bayforest Capital Ltd now owns 1,171 shares of the company’s stock worth $118,000 after acquiring an additional 1,055 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Rhythm Pharmaceuticals by 16.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,458 shares of the company’s stock worth $155,000 after purchasing an additional 342 shares in the last quarter.

Rhythm Pharmaceuticals Trading Up 2.1%

RYTM opened at $105.53 on Wednesday. The stock has a market capitalization of $7.04 billion, a P/E ratio of -34.04 and a beta of 2.00. The stock has a 50-day moving average price of $106.65 and a 200-day moving average price of $101.67. Rhythm Pharmaceuticals, Inc. has a 12-month low of $45.90 and a 12-month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data 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). The firm had revenue of $51.30 million for the quarter, compared to analysts’ expectations of $50.71 million. Rhythm Pharmaceuticals had a negative net margin of 110.32% and a negative return on equity of 433.21%. On average, equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 3,350 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $111.00, for a total value of $371,850.00. Following the completion of the sale, the insider directly owned 20,814 shares of the company’s stock, valued at $2,310,354. The trade was a 13.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph Shulman sold 9,748 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 8,509 shares in the company, valued at $980,577.16. This trade represents a 53.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

RYTM has been the subject of a number of recent analyst reports. 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 research report on Friday, December 12th. Needham & Company LLC boosted their target price on Rhythm Pharmaceuticals from $145.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Wells Fargo & Company upped their target price on Rhythm Pharmaceuticals from $129.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Zacks Research downgraded Rhythm Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Finally, Guggenheim boosted their price objective on Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.29.

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.