Rhythm Pharmaceuticals, Inc. $RYTM Shares Bought by Aquatic Capital Management LLC

Aquatic Capital Management LLC increased its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 974.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,490 shares of the company’s stock after purchasing an additional 38,537 shares during the quarter. Aquatic Capital Management LLC owned 0.06% of Rhythm Pharmaceuticals worth $4,291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RYTM. Vanguard Group Inc. raised its position in shares of Rhythm Pharmaceuticals by 39.2% during the third quarter. Vanguard Group Inc. now owns 4,996,427 shares of the company’s stock worth $504,589,000 after purchasing an additional 1,407,313 shares during the period. Alliancebernstein L.P. increased its stake in Rhythm Pharmaceuticals by 1,493.8% in the 3rd quarter. Alliancebernstein L.P. now owns 979,682 shares of the company’s stock worth $98,938,000 after purchasing an additional 918,212 shares in the last quarter. JPMorgan Chase & Co. raised 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 worth $49,513,000 after buying an additional 639,919 shares during the period. Capital Research Global Investors acquired a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth about $60,417,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Rhythm Pharmaceuticals during the second quarter valued at about $21,548,000.

Rhythm Pharmaceuticals Stock Up 3.6%

Rhythm Pharmaceuticals stock opened at $90.51 on Tuesday. The company’s fifty day simple moving average is $100.00 and its 200-day simple moving average is $102.91. Rhythm Pharmaceuticals, Inc. has a 12 month low of $45.90 and a 12 month high of $122.20. The stock has a market cap of $6.18 billion, a P/E ratio of -29.10 and a beta of 2.06.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.06. Rhythm Pharmaceuticals had a negative return on equity of 266.56% and a negative net margin of 103.57%.The business had revenue of $57.25 million during the quarter, compared to analyst estimates of $56.16 million. During the same period last year, the company earned ($0.72) earnings per share. Rhythm Pharmaceuticals’s quarterly revenue was up 36.9% compared to the same quarter last year. On average, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Insider Activity

In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 4,385 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $101.26, for a total value of $444,025.10. Following the transaction, the chief financial officer directly owned 110,512 shares of the company’s stock, valued at $11,190,445.12. This represents a 3.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christopher Paul German sold 5,614 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $89.56, for a total value of $502,789.84. Following the completion of the sale, the chief accounting officer directly owned 160 shares of the company’s stock, valued at approximately $14,329.60. The trade was a 97.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 27,267 shares of company stock worth $2,719,955. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RYTM shares. Guggenheim boosted their price target on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the company a “buy” rating in a report on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 22nd. Citizens Jmp lifted their price objective on shares of Rhythm Pharmaceuticals from $167.00 to $176.00 and gave the stock a “market outperform” rating in a research report on Friday, February 27th. Wells Fargo & Company increased their target price on Rhythm Pharmaceuticals from $136.00 to $143.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Needham & Company LLC decreased their target price on Rhythm Pharmaceuticals from $148.00 to $139.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $133.19.

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.