Checkpoint Capital L.P. Has $77.13 Million Stock Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Checkpoint Capital L.P. lessened its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 28.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 763,707 shares of the company’s stock after selling 296,293 shares during the quarter. Rhythm Pharmaceuticals accounts for approximately 25.8% of Checkpoint Capital L.P.’s holdings, making the stock its 2nd largest holding. Checkpoint Capital L.P.’s holdings in Rhythm Pharmaceuticals were worth $77,127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Rhythm Pharmaceuticals by 39.2% in the third quarter. Vanguard Group Inc. now owns 4,996,427 shares of the company’s stock valued at $504,589,000 after acquiring an additional 1,407,313 shares during the period. Federated Hermes Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 2.5% in the third quarter. Federated Hermes Inc. now owns 1,727,885 shares of the company’s stock worth $174,499,000 after acquiring an additional 41,391 shares in the last quarter. Westfield Capital Management Co. LP raised its position in shares of Rhythm Pharmaceuticals by 21.5% during the second quarter. Westfield Capital Management Co. LP now owns 1,629,468 shares of the company’s stock worth $102,966,000 after purchasing an additional 288,376 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,311,253 shares of the company’s stock valued at $82,868,000 after purchasing an additional 24,085 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Rhythm Pharmaceuticals by 51.6% during the 3rd 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.

Analyst Ratings Changes

Several equities analysts recently issued reports on RYTM shares. Citizens Jmp increased their target price on Rhythm Pharmaceuticals from $167.00 to $176.00 and gave the stock a “market outperform” rating in a research note on Friday, February 27th. Canaccord Genuity Group cut their price target on shares of Rhythm Pharmaceuticals from $141.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Telsey Advisory Group set a $143.00 price target on shares of Rhythm Pharmaceuticals in a report on Thursday. Guggenheim increased their price objective on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, The Goldman Sachs Group raised their price objective on shares of Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $133.19.

Rhythm Pharmaceuticals Price Performance

Rhythm Pharmaceuticals stock opened at $87.38 on Friday. The company has a market cap of $5.97 billion, a price-to-earnings ratio of -28.10 and a beta of 2.06. The firm has a 50-day moving average of $100.23 and a 200-day moving average of $103.01. Rhythm Pharmaceuticals, Inc. has a one year low of $45.90 and a one year high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.06. Rhythm Pharmaceuticals had a negative return on equity of 266.56% and a negative net margin of 103.57%.The business had revenue of $57.25 million for the quarter, compared to the consensus estimate of $56.16 million. During the same quarter in the previous year, the business earned ($0.72) earnings per share. Rhythm Pharmaceuticals’s quarterly revenue was up 36.9% on a year-over-year basis. As a group, sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Christopher Paul German sold 5,614 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $89.56, for a total value of $502,789.84. Following the completion of the sale, the chief accounting officer owned 160 shares of the company’s stock, valued at approximately $14,329.60. This represents a 97.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Hunter C. Smith sold 4,385 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $101.26, for a total transaction of $444,025.10. Following the completion of the transaction, the chief financial officer directly owned 110,512 shares of the company’s stock, valued at $11,190,445.12. This represents a 3.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 27,267 shares of company stock valued at $2,719,955. Corporate insiders own 6.10% of the company’s stock.

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.