NEXTBio Capital Management LP Buys New Shares in Rhythm Pharmaceuticals, Inc. $RYTM

NEXTBio Capital Management LP bought a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 67,586 shares of the company’s stock, valued at approximately $7,234,000. Rhythm Pharmaceuticals makes up approximately 4.2% of NEXTBio Capital Management LP’s holdings, making the stock its 9th biggest position. NEXTBio Capital Management LP owned approximately 0.10% of Rhythm Pharmaceuticals at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Rhythm Pharmaceuticals by 24.3% in the 4th 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. lifted its stake in Rhythm Pharmaceuticals by 2.2% in the 3rd quarter. RA Capital Management L.P. now owns 5,681,359 shares of the company’s stock worth $573,760,000 after purchasing an additional 120,000 shares in the last quarter. State Street Corp lifted its stake in Rhythm Pharmaceuticals by 8.4% in the 4th quarter. State Street Corp now owns 2,198,615 shares of the company’s stock worth $235,340,000 after purchasing an additional 169,964 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Rhythm Pharmaceuticals by 19.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,423,989 shares of the company’s stock worth $152,424,000 after purchasing an additional 235,920 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Rhythm Pharmaceuticals by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,375,729 shares of the company’s stock worth $147,283,000 after purchasing an additional 12,900 shares in the last quarter.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM opened at $88.38 on Friday. The company has a 50 day moving average price of $87.96 and a 200-day moving average price of $96.33. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $60.70 and a fifty-two week high of $122.20. The stock has a market capitalization of $6.06 billion, a PE ratio of -28.24 and a beta of 1.91.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The firm had revenue of $60.11 million during the quarter, compared to analysts’ expectations of $55.78 million. During the same quarter in the prior year, the company earned ($0.81) EPS. The company’s revenue was up 83.8% compared to the same quarter last year. Equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -3.07 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Guggenheim boosted their price target on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Morgan Stanley decreased their price target on shares of Rhythm Pharmaceuticals from $150.00 to $136.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. Zacks Research upgraded shares of Rhythm Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. Jefferies Financial Group restated a “buy” rating and issued a $125.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, March 3rd. Finally, Telsey Advisory Group set a $143.00 target price on shares of Rhythm Pharmaceuticals in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.81.

Rhythm Pharmaceuticals 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.