Penserra Capital Management LLC Acquires Shares of 30,436 Rhythm Pharmaceuticals, Inc. $RYTM

Penserra Capital Management LLC bought a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 30,436 shares of the company’s stock, valued at approximately $3,073,000.

A number of other large investors have also recently made changes to their positions in RYTM. Federated Hermes Inc. raised its position in Rhythm Pharmaceuticals by 2.5% in the 3rd quarter. Federated Hermes Inc. now owns 1,727,885 shares of the company’s stock worth $174,499,000 after purchasing an additional 41,391 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of Rhythm Pharmaceuticals by 21.5% during the second quarter. Westfield Capital Management Co. LP now owns 1,629,468 shares of the company’s stock valued at $102,966,000 after buying an additional 288,376 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Rhythm Pharmaceuticals by 1.9% in the second quarter. Geode Capital Management LLC now owns 1,311,253 shares of the company’s stock worth $82,868,000 after buying an additional 24,085 shares during the period. Alkeon Capital Management LLC lifted its stake in shares of Rhythm Pharmaceuticals by 24.5% during the 2nd quarter. Alkeon Capital Management LLC now owns 1,017,700 shares of the company’s stock worth $64,308,000 after acquiring an additional 200,000 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Rhythm Pharmaceuticals by 445.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 783,559 shares of the company’s stock valued at $49,513,000 after acquiring an additional 639,919 shares during the period.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 3,350 shares of the stock in a transaction 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 owned 20,814 shares of the company’s stock, valued at approximately $2,310,354. This trade represents a 13.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.10% of the company’s stock.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $103.87 on Friday. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of -33.51 and a beta of 2.00. The firm’s 50-day moving average is $106.70 and its two-hundred day moving average is $102.26. Rhythm Pharmaceuticals, Inc. has a 1 year low of $45.90 and a 1 year high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.10). The business had revenue of $51.30 million during the quarter, compared to analysts’ expectations of $50.71 million. Rhythm Pharmaceuticals had a negative return on equity of 433.21% and a negative net margin of 110.32%. On average, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RYTM shares. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 target price on shares of Rhythm Pharmaceuticals in a research note on Thursday, December 11th. Guggenheim raised their price target on shares of Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Zacks Research cut shares of Rhythm Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. HC Wainwright upped their target price on shares of Rhythm Pharmaceuticals from $123.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Finally, Wall Street Zen downgraded shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.29.

Rhythm Pharmaceuticals 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.