Clearbridge Investments LLC Acquires 21,377 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Clearbridge Investments LLC increased its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 4.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 506,109 shares of the company’s stock after purchasing an additional 21,377 shares during the period. Clearbridge Investments LLC owned 0.76% of Rhythm Pharmaceuticals worth $54,174,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RYTM. AQR Capital Management LLC grew its holdings in Rhythm Pharmaceuticals by 148.2% during the first quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock worth $2,085,000 after purchasing an additional 23,506 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 purchasing an additional 2,126 shares during the period. Prudential Financial Inc. lifted its position in 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 lifted its position in 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. lifted its position in 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 Trading Down 0.5%

NASDAQ RYTM opened at $85.93 on Tuesday. Rhythm Pharmaceuticals, Inc. has a 1-year low of $60.70 and a 1-year high of $122.20. The company has a 50 day moving average of $87.53 and a 200-day moving average of $96.69. The company has a market cap of $5.89 billion, a price-to-earnings ratio of -27.45 and a beta of 1.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, beating 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 company had revenue of $60.11 million during the quarter, compared to the consensus estimate of $55.78 million. During the same period in the previous year, the business earned ($0.81) earnings per share. The firm’s quarterly revenue was up 83.8% on a year-over-year basis. On average, equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -3.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Stifel Nicolaus set a $131.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Thursday, February 26th. Telsey Advisory Group set a $143.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Thursday, March 12th. Needham & Company LLC cut their price objective on shares of Rhythm Pharmaceuticals from $139.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Citigroup restated a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 3rd. Finally, Citizens Jmp cut 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 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.