Capital Research Global Investors Grows Stake in Rhythm Pharmaceuticals, Inc. $RYTM

Capital Research Global Investors raised its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 64.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 985,086 shares of the company’s stock after purchasing an additional 386,839 shares during the quarter. Capital Research Global Investors owned about 1.48% of Rhythm Pharmaceuticals worth $105,444,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in RYTM. AQR Capital Management LLC raised its position in Rhythm Pharmaceuticals by 148.2% in the first quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock valued at $2,085,000 after purchasing an additional 23,506 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Rhythm Pharmaceuticals by 6.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,282 shares of the company’s stock worth $1,874,000 after acquiring an additional 2,126 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Rhythm Pharmaceuticals by 62.9% during the second quarter. Prudential Financial Inc. now owns 7,095 shares of the company’s stock worth $423,000 after acquiring an additional 2,740 shares during the last quarter. Qube Research & Technologies Ltd increased its position in shares of Rhythm Pharmaceuticals by 11.2% during the second quarter. Qube Research & Technologies Ltd now owns 240,345 shares of the company’s stock worth $15,187,000 after acquiring an additional 24,152 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Rhythm Pharmaceuticals by 10.0% during the second quarter. Sei Investments Co. now owns 33,145 shares of the company’s stock worth $2,095,000 after acquiring an additional 3,004 shares during the last quarter.

Rhythm Pharmaceuticals Stock Performance

NASDAQ:RYTM opened at $85.93 on Tuesday. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of -27.45 and a beta of 1.92. Rhythm Pharmaceuticals, Inc. has a one year low of $60.70 and a one year high of $122.20. The stock has a 50-day simple moving average of $87.53 and a 200 day simple moving average of $96.69.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.03. The business had revenue of $60.11 million during the quarter, compared to the consensus estimate of $55.78 million. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The company’s revenue for the quarter was up 83.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.81) earnings per share. On average, equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -3.07 EPS for the current fiscal year.

Analysts Set New Price Targets

RYTM has been the topic of a number of analyst reports. Morgan Stanley dropped their target price on Rhythm Pharmaceuticals from $150.00 to $136.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Wall Street Zen raised Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Canaccord Genuity Group lifted their target price on Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Zacks Research raised Rhythm Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, HC Wainwright dropped their target price on Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.81.

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.