Candriam S.C.A. Buys 176,433 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Candriam S.C.A. raised its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 61.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 464,340 shares of the company’s stock after acquiring an additional 176,433 shares during the quarter. Candriam S.C.A.’s holdings in Rhythm Pharmaceuticals were worth $40,384,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position 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 purchasing an additional 1,214,489 shares in the last quarter. RA Capital Management L.P. increased its holdings in shares of Rhythm Pharmaceuticals by 17.3% in the fourth quarter. RA Capital Management L.P. now owns 6,666,837 shares of the company’s stock valued at $713,618,000 after purchasing an additional 985,478 shares in the last quarter. Alliancebernstein L.P. raised its position in Rhythm Pharmaceuticals by 1,493.8% in the 3rd quarter. Alliancebernstein L.P. now owns 979,682 shares of the company’s stock worth $98,938,000 after purchasing an additional 918,212 shares during the last quarter. Jennison Associates LLC raised its position in Rhythm Pharmaceuticals by 123.2% in the 4th quarter. Jennison Associates LLC now owns 918,567 shares of the company’s stock worth $98,323,000 after purchasing an additional 507,017 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in Rhythm Pharmaceuticals by 64.7% during the 4th quarter. Capital Research Global Investors now owns 985,086 shares of the company’s stock worth $105,444,000 after buying an additional 386,839 shares in the last quarter.

Insider Transactions at Rhythm Pharmaceuticals

In other news, Director Lynn A. Tetrault sold 37,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the completion of the transaction, the director directly owned 7,000 shares in the company, valued at approximately $702,240. The trade was a 84.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Needham & Company LLC lowered their target price on Rhythm Pharmaceuticals from $139.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, March 17th. HC Wainwright cut their price target on Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Wells Fargo & Company raised their price target on Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Wall Street Zen upgraded Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Royal Bank Of Canada boosted their price objective on Rhythm Pharmaceuticals from $137.00 to $141.00 and gave the stock an “outperform” rating in a report on Tuesday. Fourteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $138.29.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock opened at $108.40 on Friday. The firm has a fifty day moving average of $96.06 and a two-hundred day moving average of $96.07. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of -34.63 and a beta of 1.88. Rhythm Pharmaceuticals, Inc. has a 52 week low of $74.50 and a 52 week high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The business had revenue of $60.11 million for the quarter, compared to analyst estimates of $55.78 million. During the same period last year, the company earned ($0.81) EPS. The firm’s revenue was up 83.8% on a year-over-year basis. As a group, research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -3.11 EPS for the current fiscal year.

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.