Cinctive Capital Management LP Sells 35,781 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Cinctive Capital Management LP decreased its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 50.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,156 shares of the company’s stock after selling 35,781 shares during the quarter. Cinctive Capital Management LP owned approximately 0.05% of Rhythm Pharmaceuticals worth $3,550,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in Rhythm Pharmaceuticals by 5.0% in the third quarter. Bank of America Corp DE now owns 233,150 shares of the company’s stock worth $23,546,000 after purchasing an additional 10,998 shares in the last quarter. Aquatic Capital Management LLC increased its stake in shares of Rhythm Pharmaceuticals by 974.9% in the third quarter. Aquatic Capital Management LLC now owns 42,490 shares of the company’s stock valued at $4,291,000 after buying an additional 38,537 shares in the last quarter. Algert Global LLC raised its holdings in shares of Rhythm Pharmaceuticals by 133.0% in the third quarter. Algert Global LLC now owns 140,284 shares of the company’s stock valued at $14,167,000 after buying an additional 80,065 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Rhythm Pharmaceuticals by 1,493.8% in the third quarter. Alliancebernstein L.P. now owns 979,682 shares of the company’s stock valued at $98,938,000 after buying an additional 918,212 shares during the last quarter. Finally, Creative Planning lifted its position in Rhythm Pharmaceuticals by 44.8% during the 3rd quarter. Creative Planning now owns 24,945 shares of the company’s stock worth $2,519,000 after buying an additional 7,723 shares in the last quarter.

Rhythm Pharmaceuticals Trading Down 4.1%

Rhythm Pharmaceuticals stock opened at $87.38 on Monday. Rhythm Pharmaceuticals, Inc. has a 1 year low of $45.90 and a 1 year high of $122.20. The company has a market cap of $5.97 billion, a PE ratio of -28.10 and a beta of 2.06. The company’s 50-day moving average is $100.23 and its two-hundred day moving average is $103.01.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.06. The company had revenue of $57.25 million for the quarter, compared to analyst estimates of $56.16 million. Rhythm Pharmaceuticals had a negative net margin of 103.57% and a negative return on equity of 266.56%. The company’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.72) EPS. Research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RYTM shares. Wells Fargo & Company increased their price objective on shares of Rhythm Pharmaceuticals from $136.00 to $143.00 and gave the stock an “overweight” rating in a report on Thursday. Canaccord Genuity Group reduced their target price on shares of Rhythm Pharmaceuticals from $141.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. The Goldman Sachs Group increased their price target on shares of Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, January 22nd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $125.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.19.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, CAO Christopher Paul German sold 5,614 shares of Rhythm Pharmaceuticals stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $89.56, for a total transaction 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 $14,329.60. The trade was a 97.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Hunter C. Smith sold 4,385 shares of the firm’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 owned 110,512 shares in the company, valued at approximately $11,190,445.12. This trade represents a 3.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 27,267 shares of company stock worth $2,719,955 over the last 90 days. 6.10% of the stock is owned by corporate insiders.

About Rhythm Pharmaceuticals

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.