Exome Asset Management LLC Makes New Investment in Rhythm Pharmaceuticals, Inc. $RYTM

Exome Asset Management LLC acquired a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 40,581 shares of the company’s stock, valued at approximately $3,529,000. Rhythm Pharmaceuticals accounts for approximately 1.8% of Exome Asset Management LLC’s portfolio, making the stock its 16th largest position.

Several other hedge funds have also recently bought and sold shares of the company. Xponance LLC raised its position in shares of Rhythm Pharmaceuticals by 2.6% in the 4th quarter. Xponance LLC now owns 4,269 shares of the company’s stock valued at $457,000 after buying an additional 107 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Rhythm Pharmaceuticals by 39.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock worth $43,000 after acquiring an additional 113 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Rhythm Pharmaceuticals by 0.7% during the 2nd quarter. Captrust Financial Advisors now owns 17,471 shares of the company’s stock worth $1,104,000 after acquiring an additional 114 shares in the last quarter. GAMMA Investing LLC increased its stake in Rhythm Pharmaceuticals by 48.6% in the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after acquiring an additional 118 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in Rhythm Pharmaceuticals by 73.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 145 shares during the last quarter.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, Director Lynn A. Tetrault sold 37,000 shares of the business’s stock in a transaction on 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 sale, the director owned 7,000 shares in the company, valued at $702,240. The trade was a 84.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank Of Canada upped their target price on Rhythm Pharmaceuticals from $137.00 to $141.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. initiated coverage on Rhythm Pharmaceuticals in a research note on Monday. They issued an “overweight” rating and a $145.00 price target on the stock. Wall Street Zen raised Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. TD Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, July 17th. Fifteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.73.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM opened at $106.13 on Tuesday. Rhythm Pharmaceuticals, Inc. has a one year low of $74.50 and a one year high of $122.20. The company has a market cap of $7.27 billion, a price-to-earnings ratio of -33.91 and a beta of 1.88. The firm has a 50 day simple moving average of $99.30 and a 200 day simple moving average of $95.80.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.03. The firm had revenue of $60.11 million for the quarter, compared to analysts’ expectations of $55.78 million. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The company’s revenue was up 83.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.81) earnings per share. As a group, analysts expect that Rhythm Pharmaceuticals, Inc. will post -3.1 EPS for the current year.

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.