UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $57.16 Million Stock Position in Rhythm Pharmaceuticals, Inc. $RYTM

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 4.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 514,850 shares of the company’s stock after selling 26,600 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Rhythm Pharmaceuticals were worth $57,164,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in shares of Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Rhythm Pharmaceuticals by 73.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after buying an additional 145 shares during the period. GAMMA Investing LLC grew its holdings in 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 period. Smartleaf Asset Management LLC grew its stake in shares of Rhythm Pharmaceuticals by 39.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after buying an additional 113 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in Rhythm Pharmaceuticals in the second quarter valued at approximately $51,000.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, EVP Jennifer Kayden Lee sold 75,834 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $117.38, for a total transaction of $8,901,394.92. Following the transaction, the executive vice president directly owned 54,233 shares of the company’s stock, valued at approximately $6,365,869.54. This trade represents a 58.30% decrease in their ownership of the stock. 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. Also, CFO Hunter C. Smith sold 62,774 shares of the stock in a transaction on 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 directly owned 114,024 shares in the company, valued at approximately $12,024,971.04. This represents a 35.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 245,450 shares of company stock valued at $27,374,837. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RYTM shares. TD Cowen reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 17th. Royal Bank Of Canada boosted their price objective on Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Canaccord Genuity Group set a $154.00 target price on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Wall Street Zen upgraded Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, National Bank Financial set a $160.00 price objective on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 5th. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.12.

Rhythm Pharmaceuticals Trading Up 0.6%

Shares of NASDAQ RYTM opened at $105.42 on Thursday. Rhythm Pharmaceuticals, Inc. has a 12 month low of $74.50 and a 12 month high of $122.20. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of -33.90 and a beta of 1.97. The business has a 50-day moving average of $109.80 and a 200-day moving average of $97.03.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.73) earnings per share 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 analysts’ expectations of $67.66 million. Rhythm Pharmaceuticals had a negative net margin of 85.59% and a negative return on equity of 159.87%. The business’s quarterly revenue was up 46.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.75) EPS. On average, analysts predict that Rhythm Pharmaceuticals, Inc. will post -2.87 earnings per share for the current year.

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.