EFG International AG Invests $3.73 Million in Rhythm Pharmaceuticals, Inc. $RYTM

EFG International AG bought a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 33,577 shares of the company’s stock, valued at approximately $3,728,000.

Several other institutional investors also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its position in Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake 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 valued at $37,000 after purchasing an additional 145 shares during the period. GAMMA Investing LLC grew its holdings in shares of Rhythm Pharmaceuticals by 36.3% in the second quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings 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 worth $43,000 after purchasing an additional 113 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new position in shares of Rhythm Pharmaceuticals in the second quarter worth $51,000.

Insider Buying and Selling

In related news, insider Joseph Shulman sold 5,079 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $119.75, for a total value of $608,210.25. Following the sale, the insider directly owned 15,915 shares of the company’s stock, valued at $1,905,821.25. This represents a 24.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lynn A. Tetrault sold 37,000 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $100.32, for a total value of $3,711,840.00. Following the completion of the transaction, the director owned 7,000 shares of the company’s stock, valued at approximately $702,240. This trade represents a 84.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 182,676 shares of company stock valued at $20,754,691 over the last 90 days. 5.90% of the stock is currently owned by company insiders.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock opened at $111.87 on Thursday. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $74.50 and a fifty-two week high of $122.20. The stock’s 50 day simple moving average is $109.26 and its two-hundred day simple moving average is $96.82. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of -35.97 and a beta of 1.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.08. The firm had revenue of $71.25 million during the quarter, compared to analyst estimates of $67.66 million. Rhythm Pharmaceuticals had a negative return on equity of 159.87% and a negative net margin of 85.59%.The business’s revenue was up 46.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.75) EPS. On average, analysts predict that Rhythm Pharmaceuticals, Inc. will post -2.82 earnings per share for the current year.

Analyst Ratings Changes

RYTM has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Citigroup reissued a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 5th. TD Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 17th. JPMorgan Chase & Co. upped their price target on Rhythm Pharmaceuticals from $145.00 to $146.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, National Bank Financial set a $160.00 price objective on Rhythm Pharmaceuticals in a report on Wednesday, August 5th. Fifteen investment 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 currently has an average rating of “Moderate Buy” and an average target price of $142.44.

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.