E Fund Management Co. Ltd. Takes $528,000 Position in Rhythm Pharmaceuticals, Inc. $RYTM

E Fund Management Co. Ltd. acquired a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,751 shares of the company’s stock, valued at approximately $528,000.

Other institutional investors have also recently modified their holdings of the company. M&T Bank Corp acquired a new stake in Rhythm Pharmaceuticals in the fourth quarter valued at approximately $9,202,000. Jennison Associates LLC raised its stake in shares of Rhythm Pharmaceuticals by 123.2% during the 4th quarter. Jennison Associates LLC now owns 918,567 shares of the company’s stock worth $98,323,000 after buying an additional 507,017 shares during the period. Zweig DiMenna Associates LLC purchased a new position in shares of Rhythm Pharmaceuticals during the 4th quarter valued at approximately $8,734,000. Pictet Asset Management Holding SA lifted its position in shares of Rhythm Pharmaceuticals by 8.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 667,046 shares of the company’s stock valued at $57,329,000 after buying an additional 52,383 shares in the last quarter. Finally, Orbimed Advisors LLC grew its stake in Rhythm Pharmaceuticals by 31.0% in the 1st quarter. Orbimed Advisors LLC now owns 314,100 shares of the company’s stock valued at $27,317,000 after acquiring an additional 74,300 shares during the period.

Insider Activity

In other Rhythm Pharmaceuticals news, EVP Yann Mazabraud sold 57,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $116.15, for a total value of $6,620,550.00. Following the transaction, the executive vice president directly owned 55,655 shares in the company, valued at $6,464,328.25. The trade was a 50.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lynn A. Tetrault sold 37,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the completion of the sale, the director directly owned 7,000 shares of the company’s stock, valued at approximately $702,240. This trade represents a 84.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 182,676 shares of company stock worth $20,754,691. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RYTM shares. Wall Street Zen upgraded shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Stifel Nicolaus set a $133.00 price objective on Rhythm Pharmaceuticals in a report on Monday, June 15th. Citizens Jmp boosted their price objective on Rhythm Pharmaceuticals from $155.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 5th. National Bank Financial set a $160.00 target price on Rhythm Pharmaceuticals in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada raised their target price on Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Fifteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $142.44.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $108.92 on Friday. The stock’s 50 day simple moving average is $107.60 and its 200-day simple moving average is $96.69. The stock has a market cap of $7.46 billion, a P/E ratio of -35.02 and a beta of 1.92. Rhythm Pharmaceuticals, Inc. has a 1-year low of $74.50 and a 1-year high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative return on equity of 159.87% and a negative net margin of 85.59%.The company had revenue of $71.25 million for the quarter, compared to analyst estimates of $67.66 million. During the same quarter in the previous year, the company posted ($0.75) earnings per share. The firm’s revenue for the quarter was up 46.9% compared to the same quarter last year. As a group, research analysts expect that Rhythm Pharmaceuticals, Inc. will post -2.82 EPS for the current fiscal year.

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.