Aquatic Capital Management LLC Makes New Investment in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Aquatic Capital Management LLC acquired a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,223 shares of the company’s stock, valued at approximately $516,000.

Several other hedge funds have also recently made changes to their positions in RYTM. Lord Abbett & CO. LLC increased its holdings in shares of Rhythm Pharmaceuticals by 56.5% in the fourth quarter. Lord Abbett & CO. LLC now owns 160,651 shares of the company’s stock valued at $8,993,000 after purchasing an additional 58,005 shares during the period. Hood River Capital Management LLC raised its position in Rhythm Pharmaceuticals by 4.7% during the 4th quarter. Hood River Capital Management LLC now owns 643,691 shares of the company’s stock worth $36,034,000 after buying an additional 29,093 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rhythm Pharmaceuticals by 24.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 685,152 shares of the company’s stock valued at $38,355,000 after acquiring an additional 134,622 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth $292,000. Finally, Silverarc Capital Management LLC raised its holdings in shares of Rhythm Pharmaceuticals by 7.2% during the fourth quarter. Silverarc Capital Management LLC now owns 273,896 shares of the company’s stock worth $15,333,000 after purchasing an additional 18,318 shares during the last quarter.

Insider Activity at Rhythm Pharmaceuticals

In other news, EVP Yann Mazabraud sold 75,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $51.48, for a total value of $3,861,000.00. Following the transaction, the executive vice president now owns 40,370 shares of the company’s stock, valued at $2,078,247.60. This represents a 65.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Hunter C. Smith sold 1,678 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $99,723.54. Following the completion of the sale, the chief financial officer now directly owns 101,186 shares in the company, valued at $6,013,483.98. This trade represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 160,417 shares of company stock valued at $9,008,789. 5.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on RYTM shares. Bank of America upgraded Rhythm Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Monday, April 7th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 8th. Wells Fargo & Company boosted their target price on shares of Rhythm Pharmaceuticals from $80.00 to $91.00 and gave the company an “overweight” rating in a research note on Monday, April 7th. Stifel Nicolaus initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday, March 5th. They set a “buy” rating and a $78.00 price target on the stock. Finally, Canaccord Genuity Group upped their price objective on shares of Rhythm Pharmaceuticals from $81.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, April 8th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $74.92.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $63.80 on Friday. The stock has a market capitalization of $4.03 billion, a P/E ratio of -14.73 and a beta of 2.32. The business has a 50 day simple moving average of $55.83 and a two-hundred day simple moving average of $56.51. Rhythm Pharmaceuticals, Inc. has a 12 month low of $35.17 and a 12 month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The firm had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million. As a group, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.