Capital World Investors Acquires New Position in Rhythm Pharmaceuticals, Inc. $RYTM

Capital World Investors acquired a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 115,693 shares of the company’s stock, valued at approximately $12,384,000. Capital World Investors owned approximately 0.17% of Rhythm Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RYTM. Vanguard Group Inc. grew its position in Rhythm Pharmaceuticals by 39.2% during the third quarter. Vanguard Group Inc. now owns 4,996,427 shares of the company’s stock valued at $504,589,000 after purchasing an additional 1,407,313 shares in the last quarter. Alliancebernstein L.P. grew its position in Rhythm Pharmaceuticals by 1,493.8% during the third quarter. Alliancebernstein L.P. now owns 979,682 shares of the company’s stock valued at $98,938,000 after purchasing an additional 918,212 shares in the last quarter. Capital Research Global Investors purchased a new position in Rhythm Pharmaceuticals during the third quarter valued at approximately $60,417,000. Jennison Associates LLC grew its position in Rhythm Pharmaceuticals by 123.2% during the fourth quarter. Jennison Associates LLC now owns 918,567 shares of the company’s stock valued at $98,323,000 after purchasing an additional 507,017 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Rhythm Pharmaceuticals by 51.6% during the third quarter. JPMorgan Chase & Co. now owns 1,188,069 shares of the company’s stock valued at $119,983,000 after purchasing an additional 404,510 shares in the last quarter.

Rhythm Pharmaceuticals Stock Up 2.2%

NASDAQ RYTM opened at $87.86 on Wednesday. The stock has a market capitalization of $6.02 billion, a PE ratio of -28.07 and a beta of 1.91. The company has a 50 day moving average price of $87.77 and a two-hundred day moving average price of $96.59. Rhythm Pharmaceuticals, Inc. has a 12-month low of $60.70 and a 12-month high of $122.20.

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

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Stifel Nicolaus set a $131.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Thursday, February 26th. Guggenheim boosted their price objective on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Wells Fargo & Company lifted their target price on shares of Rhythm Pharmaceuticals from $143.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Canaccord Genuity Group lifted their target price on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.