EFG Asset Management North America Corp. Acquires Shares of 20,269 Rhythm Pharmaceuticals, Inc. $RYTM

EFG Asset Management North America Corp. acquired a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the third quarter, HoldingsChannel.com reports. The fund acquired 20,269 shares of the company’s stock, valued at approximately $2,047,000.

Several other hedge funds also recently made changes to their positions in RYTM. Farther Finance Advisors LLC raised its holdings in Rhythm Pharmaceuticals by 1,110.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock valued at $35,000 after buying an additional 322 shares during the last quarter. Osaic Holdings Inc. increased its position in shares of Rhythm Pharmaceuticals by 65.9% in the second quarter. Osaic Holdings Inc. now owns 979 shares of the company’s stock valued at $62,000 after acquiring an additional 389 shares during the period. State of Wyoming bought a new position in shares of Rhythm Pharmaceuticals during the second quarter valued at about $67,000. Bayforest Capital Ltd raised its stake in shares of Rhythm Pharmaceuticals by 909.5% during the third quarter. Bayforest Capital Ltd now owns 1,171 shares of the company’s stock valued at $118,000 after acquiring an additional 1,055 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Rhythm Pharmaceuticals by 16.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,458 shares of the company’s stock valued at $155,000 after acquiring an additional 342 shares during the last quarter.

Rhythm Pharmaceuticals Stock Up 2.1%

Shares of RYTM stock opened at $105.53 on Wednesday. The business’s fifty day moving average is $106.65 and its 200 day moving average is $101.67. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of -34.04 and a beta of 2.00. Rhythm Pharmaceuticals, Inc. has a twelve month low of $45.90 and a twelve month high of $122.20.

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

Analyst Ratings Changes

Several research firms recently issued reports on RYTM. HC Wainwright raised their target price on Rhythm Pharmaceuticals from $123.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. The Goldman Sachs Group lifted their price objective on Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Oppenheimer downgraded Rhythm Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 5th. Needham & Company LLC lifted their price target on shares of Rhythm Pharmaceuticals from $145.00 to $148.00 and gave the company a “buy” rating in a report on Friday, January 9th. Finally, Wall Street Zen downgraded shares of Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.29.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 9,748 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $115.24, for a total transaction of $1,123,359.52. Following the completion of the transaction, the insider owned 8,509 shares of the company’s stock, valued at approximately $980,577.16. This trade represents a 53.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pamela J. Cramer sold 3,350 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $111.00, for a total transaction of $371,850.00. Following the transaction, the insider owned 20,814 shares of the company’s stock, valued at $2,310,354. The trade was a 13.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.10% of the stock is currently owned by corporate insiders.

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.