SG Americas Securities LLC Buys 7,019 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

SG Americas Securities LLC increased its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 59.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,760 shares of the company’s stock after purchasing an additional 7,019 shares during the quarter. SG Americas Securities LLC’s holdings in Rhythm Pharmaceuticals were worth $1,632,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Rhythm Pharmaceuticals by 24.3% during the fourth quarter. Vanguard Group Inc. now owns 6,210,916 shares of the company’s stock worth $664,816,000 after buying an additional 1,214,489 shares during the last quarter. RA Capital Management L.P. lifted its stake in shares of Rhythm Pharmaceuticals by 17.3% in the 4th quarter. RA Capital Management L.P. now owns 6,666,837 shares of the company’s stock valued at $713,618,000 after acquiring an additional 985,478 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Rhythm Pharmaceuticals by 1,493.8% during the 3rd quarter. Alliancebernstein L.P. now owns 979,682 shares of the company’s stock valued at $98,938,000 after acquiring an additional 918,212 shares in the last quarter. Capital Research Global Investors bought a new stake in Rhythm Pharmaceuticals during the 3rd quarter worth $60,417,000. Finally, Jennison Associates LLC grew its position in Rhythm Pharmaceuticals by 123.2% during the 4th quarter. Jennison Associates LLC now owns 918,567 shares of the company’s stock worth $98,323,000 after acquiring an additional 507,017 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have commented on RYTM. Bank of America dropped their target price on Rhythm Pharmaceuticals from $145.00 to $139.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Telsey Advisory Group set a $143.00 price target on Rhythm Pharmaceuticals in a report on Thursday, March 12th. HC Wainwright lowered their price objective on Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. TD Cowen reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 17th. Finally, Canaccord Genuity Group lifted their target price on shares of Rhythm Pharmaceuticals from $143.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.12.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ RYTM opened at $114.17 on Friday. The company has a market capitalization of $7.82 billion, a P/E ratio of -36.48 and a beta of 1.88. Rhythm Pharmaceuticals, Inc. has a 52-week low of $64.65 and a 52-week high of $122.20. The company’s 50 day moving average price is $92.64 and its 200-day moving average price is $95.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.83) EPS 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 for the quarter, compared to analyst estimates of $55.78 million. During the same period in the prior year, the firm posted ($0.81) EPS. The company’s quarterly revenue was up 83.8% on a year-over-year basis. Analysts forecast that Rhythm Pharmaceuticals, Inc. will post -3.11 earnings per share for the current year.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 37,000 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the sale, the director owned 7,000 shares of the company’s stock, valued at approximately $702,240. This represents a 84.09% decrease in their ownership of the stock. The sale 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 currently owned by insiders.

Rhythm Pharmaceuticals Company 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.