Capital World Investors Invests $12.38 Million in Rhythm Pharmaceuticals, Inc. $RYTM

by · The Markets Daily

Capital World Investors acquired a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 115,693 shares of the company’s stock, valued at approximately $12,384,000.

A number of other institutional investors and hedge funds have also modified their holdings of RYTM. AQR Capital Management LLC lifted its stake in shares of Rhythm Pharmaceuticals by 148.2% in the first quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock worth $2,085,000 after buying an additional 23,506 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Rhythm Pharmaceuticals by 6.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,282 shares of the company’s stock worth $1,874,000 after buying an additional 2,126 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Rhythm Pharmaceuticals by 62.9% in the second quarter. Prudential Financial Inc. now owns 7,095 shares of the company’s stock worth $423,000 after buying an additional 2,740 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Rhythm Pharmaceuticals by 11.2% in the second quarter. Qube Research & Technologies Ltd now owns 240,345 shares of the company’s stock worth $15,187,000 after buying an additional 24,152 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Rhythm Pharmaceuticals by 10.0% in the second quarter. Sei Investments Co. now owns 33,145 shares of the company’s stock worth $2,095,000 after buying an additional 3,004 shares during the last quarter.

Analysts Set New Price Targets

RYTM has been the subject of a number of analyst reports. Citizens Jmp reduced their price objective on shares of Rhythm Pharmaceuticals from $176.00 to $152.00 and set a “market outperform” rating for the company in a research note on Tuesday, March 17th. Jefferies Financial Group reaffirmed a “buy” rating and set a $125.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, March 3rd. Citigroup reaffirmed a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 3rd. Telsey Advisory Group set a $143.00 target price on shares of Rhythm Pharmaceuticals in a research report on Thursday, March 12th. Finally, Bank of America dropped their target price on shares of Rhythm Pharmaceuticals from $145.00 to $139.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.81.

Check Out Our Latest Report on Rhythm Pharmaceuticals

Rhythm Pharmaceuticals Trading Up 2.2%

Shares of RYTM stock opened at $87.86 on Wednesday. Rhythm Pharmaceuticals, Inc. has a 1 year low of $60.70 and a 1 year high of $122.20. The firm’s fifty day simple moving average is $87.77 and its 200 day simple moving average is $96.59. The firm has a market capitalization of $6.02 billion, a P/E ratio of -28.07 and a beta of 1.91.

Rhythm Pharmaceuticals (NASDAQ:RYTM – Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The business had revenue of $60.11 million for the quarter, compared to analyst estimates of $55.78 million. During the same quarter in the previous year, the firm posted ($0.81) earnings per share. Rhythm Pharmaceuticals’s revenue was up 83.8% compared to the same quarter last year. Equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -3.07 EPS for the current fiscal year.

Rhythm Pharmaceuticals Profile

(Free Report)

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.

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