Rhythm Pharmaceuticals, Inc. $RYTM Position Increased by Wellington Management Group LLP

Wellington Management Group LLP grew its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 78.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 488,747 shares of the company’s stock after buying an additional 214,990 shares during the quarter. Wellington Management Group LLP’s holdings in Rhythm Pharmaceuticals were worth $54,266,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in RYTM. EverSource Wealth Advisors LLC raised its holdings in shares of Rhythm Pharmaceuticals by 303.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares during the period. SBI Securities Co. Ltd. grew its position in Rhythm Pharmaceuticals by 73.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 145 shares in the last quarter. GAMMA Investing LLC grew its position in Rhythm Pharmaceuticals by 36.3% during the 2nd quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Rhythm Pharmaceuticals by 39.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after purchasing an additional 113 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in Rhythm Pharmaceuticals during the 2nd quarter valued at $51,000.

Insider Activity at Rhythm Pharmaceuticals

In related news, EVP Yann Mazabraud sold 57,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $116.15, for a total value of $6,620,550.00. Following the transaction, the executive vice president owned 55,655 shares in the company, valued at approximately $6,464,328.25. This represents a 50.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Joseph Shulman sold 5,079 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $119.75, for a total value of $608,210.25. Following the completion of the transaction, the insider owned 15,915 shares in the company, valued at $1,905,821.25. This represents a 24.19% 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. Over the last three months, insiders sold 245,450 shares of company stock worth $27,374,837. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RYTM. Canaccord Genuity Group set a $154.00 target price on Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Citigroup reissued a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 5th. TD Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. upped their target price on Rhythm Pharmaceuticals from $145.00 to $146.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $141.12.

Rhythm Pharmaceuticals Stock Down 0.5%

Rhythm Pharmaceuticals stock opened at $104.89 on Friday. Rhythm Pharmaceuticals, Inc. has a 12 month low of $74.50 and a 12 month high of $122.20. The stock has a market cap of $7.19 billion, a P/E ratio of -33.73 and a beta of 1.97. The company’s fifty day simple moving average is $109.74 and its 200-day simple moving average is $97.08.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $71.25 million during the quarter, compared to analyst estimates of $67.66 million. During the same period last year, the company earned ($0.75) earnings per share. Rhythm Pharmaceuticals’s quarterly revenue was up 46.9% compared to the same quarter last year. On average, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -2.87 earnings per share for the current fiscal 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.