Rhythm Pharmaceuticals, Inc. $RYTM is Perceptive Advisors LLC’s 3rd Largest Position

Perceptive Advisors LLC trimmed its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 99.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,546,391 shares of the company’s stock after selling 416,558,578 shares during the period. Rhythm Pharmaceuticals comprises approximately 4.9% of Perceptive Advisors LLC’s portfolio, making the stock its 3rd biggest holding. Perceptive Advisors LLC owned about 3.82% of Rhythm Pharmaceuticals worth $272,566,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of 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 worth $28,000 after acquiring an additional 200 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Rhythm Pharmaceuticals by 97.2% during the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after acquiring an additional 141 shares in the last quarter. Optiver Holding B.V. raised its holdings in shares of Rhythm Pharmaceuticals by 65.2% during the third quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock worth $37,000 after acquiring an additional 144 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Rhythm Pharmaceuticals by 73.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 145 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Rhythm Pharmaceuticals by 48.6% during the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock worth $39,000 after acquiring an additional 118 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RYTM. Citigroup reiterated a “market outperform” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 3rd. Guggenheim increased their price objective on Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Morgan Stanley cut their target price on Rhythm Pharmaceuticals from $150.00 to $136.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Wall Street Zen upgraded Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Jefferies Financial Group restated a “buy” rating and set a $125.00 target price on shares of Rhythm Pharmaceuticals in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.13.

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM opened at $95.83 on Thursday. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $60.70 and a fifty-two week high of $122.20. The stock’s 50-day moving average is $88.27 and its two-hundred day moving average is $95.91. The firm has a market cap of $6.57 billion, a P/E ratio of -30.62 and a beta of 1.91.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The company had revenue of $60.11 million for the quarter, compared to analyst estimates of $55.78 million. During the same period last year, the company earned ($0.81) earnings per share. The business’s revenue was up 83.8% compared to the same quarter last year. On average, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -3.11 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.