Braidwell LP Boosts Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Braidwell LP raised its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 22.7% during the second quarter, HoldingsChannel reports. The fund owned 381,128 shares of the company’s stock after acquiring an additional 70,500 shares during the quarter. Rhythm Pharmaceuticals accounts for approximately 1.6% of Braidwell LP’s investment portfolio, making the stock its 20th largest holding. Braidwell LP’s holdings in Rhythm Pharmaceuticals were worth $42,317,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. AQR Capital Management LLC raised its stake in shares of Rhythm Pharmaceuticals by 148.2% in the first quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock valued at $2,085,000 after acquiring an additional 23,506 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Rhythm Pharmaceuticals by 6.4% during the 1st 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. boosted its stake in shares of Rhythm Pharmaceuticals by 62.9% during the 2nd quarter. Prudential Financial Inc. now owns 7,095 shares of the company’s stock worth $423,000 after purchasing an additional 2,740 shares during the period. Qube Research & Technologies Ltd grew its holdings in Rhythm Pharmaceuticals by 11.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 240,345 shares of the company’s stock valued at $15,187,000 after purchasing an additional 24,152 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Rhythm Pharmaceuticals by 10.0% during the 2nd quarter. Sei Investments Co. now owns 33,145 shares of the company’s stock valued at $2,095,000 after purchasing an additional 3,004 shares during the last quarter.

Rhythm Pharmaceuticals Stock Up 0.6%

Shares of NASDAQ RYTM opened at $105.42 on Thursday. Rhythm Pharmaceuticals, Inc. has a twelve month low of $74.50 and a twelve month high of $122.20. The firm has a market cap of $7.22 billion, a PE ratio of -33.90 and a beta of 1.97. The business has a fifty day simple moving average of $109.80 and a two-hundred day simple moving average of $97.03.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.08. The firm had revenue of $71.25 million for 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 for the quarter was up 46.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.75) earnings per share. On average, research analysts expect that Rhythm Pharmaceuticals, Inc. will post -2.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

RYTM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Rhythm Pharmaceuticals from $145.00 to $146.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft began coverage on Rhythm Pharmaceuticals in a research report on Friday, August 28th. They set a “hold” rating and a $120.00 target price for the company. Canaccord Genuity Group set a $154.00 price target on Rhythm Pharmaceuticals in a report on Wednesday, August 5th. Wells Fargo & Company increased their price target on Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Finally, TD Cowen reissued a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Fifteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.12.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 62,774 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $105.46, for a total transaction of $6,620,146.04. Following the transaction, the chief financial officer owned 114,024 shares of the company’s stock, valued at approximately $12,024,971.04. This trade represents a 35.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lynn A. Tetrault sold 37,000 shares of the business’s stock in a transaction dated 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 completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 245,450 shares of company stock worth $27,374,837. 5.90% of the stock is currently owned by company insiders.

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.