Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) is Perceptive Advisors LLC’s 6th Largest Position

Perceptive Advisors LLC lifted its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,446,579 shares of the company’s stock after purchasing an additional 178,000 shares during the quarter. Rhythm Pharmaceuticals comprises about 3.4% of Perceptive Advisors LLC’s holdings, making the stock its 6th largest holding. Perceptive Advisors LLC owned 0.06% of Rhythm Pharmaceuticals worth $141,517,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in RYTM. CWM LLC increased its holdings in shares of Rhythm Pharmaceuticals by 62.6% during the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after buying an additional 253 shares during the last quarter. ORG Partners LLC purchased a new position in Rhythm Pharmaceuticals in the second quarter worth approximately $51,000. Quest Partners LLC lifted its stake in shares of Rhythm Pharmaceuticals by 513.3% in the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock valued at $68,000 after purchasing an additional 1,391 shares during the last quarter. Quarry LP purchased a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth $69,000. Finally, ZRC Wealth Management LLC increased its position in shares of Rhythm Pharmaceuticals by 392.8% during the 1st quarter. ZRC Wealth Management LLC now owns 1,971 shares of the company’s stock worth $85,000 after purchasing an additional 1,571 shares during the last quarter.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM stock opened at $51.35 on Monday. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $20.97 and a fifty-two week high of $55.64. The company has a 50 day moving average price of $48.14 and a 200 day moving average price of $43.55. The stock has a market capitalization of $3.14 billion, a P/E ratio of -11.09 and a beta of 2.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The company had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.79 million. During the same quarter in the prior year, the business earned ($0.82) EPS. Rhythm Pharmaceuticals’s revenue was up 51.3% on a year-over-year basis. On average, research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.43 EPS for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 5,313 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $50.01, for a total value of $265,703.13. Following the sale, the insider now directly owns 30 shares in the company, valued at approximately $1,500.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lynn A. Tetrault sold 4,300 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $50.01, for a total value of $215,043.00. Following the completion of the sale, the director now directly owns 3,000 shares of the company’s stock, valued at $150,030. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Shulman sold 5,313 shares of Rhythm Pharmaceuticals stock in a transaction on Friday, July 12th. The shares were sold at an average price of $50.01, for a total transaction of $265,703.13. Following the completion of the transaction, the insider now owns 30 shares in the company, valued at $1,500.30. The disclosure for this sale can be found here. Insiders have sold a total of 127,033 shares of company stock valued at $6,214,392 over the last 90 days. 5.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RYTM shares. JMP Securities began coverage on shares of Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They set an “outperform” rating and a $64.00 price target for the company. HC Wainwright started coverage on shares of Rhythm Pharmaceuticals in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $57.88.

Rhythm Pharmaceuticals Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.