Castleark Management LLC Has $4.55 Million Stock Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Castleark Management LLC decreased its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 18.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 52,279 shares of the company’s stock after selling 12,200 shares during the quarter. Castleark Management LLC’s holdings in Rhythm Pharmaceuticals were worth $4,547,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of RYTM. EverSource Wealth Advisors LLC raised its holdings in Rhythm Pharmaceuticals by 303.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares during the period. SBI Securities Co. Ltd. boosted its holdings in shares of Rhythm Pharmaceuticals by 73.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 145 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 48.6% during the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock worth $39,000 after acquiring an additional 118 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Rhythm Pharmaceuticals by 39.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after purchasing an additional 113 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Rhythm Pharmaceuticals by 328.9% in the fourth quarter. Covestor Ltd now owns 579 shares of the company’s stock valued at $62,000 after purchasing an additional 444 shares during the last quarter.

Rhythm Pharmaceuticals Trading Up 3.9%

Shares of RYTM opened at $106.13 on Tuesday. Rhythm Pharmaceuticals, Inc. has a 12 month low of $74.50 and a 12 month high of $122.20. The firm’s 50 day moving average is $99.30 and its 200-day moving average is $95.80. The stock has a market capitalization of $7.27 billion, a PE ratio of -33.91 and a beta of 1.88.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.86) by $0.03. The business had revenue of $60.11 million during the quarter, compared to analysts’ expectations of $55.78 million. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The firm’s revenue for the quarter was up 83.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.81) earnings per share. Equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -3.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Lynn A. Tetrault sold 37,000 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the completion of the sale, the director directly owned 7,000 shares in the company, valued at approximately $702,240. This represents a 84.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RYTM shares. Royal Bank Of Canada lifted their price target on Rhythm Pharmaceuticals from $137.00 to $141.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Canaccord Genuity Group increased their price objective on Rhythm Pharmaceuticals from $143.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Stifel Nicolaus set a $133.00 price objective on Rhythm Pharmaceuticals in a research report on Monday, June 15th. Citigroup reissued a “market outperform” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 3rd. Finally, Wall Street Zen raised shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Fifteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $138.73.

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.