Aberdeen Group plc Has $4.28 Million Stock Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Aberdeen Group plc reduced its stake in Rhythm Pharmaceuticals by 37.4%, owning approximately $4.28 million in shares after selling 40,472 shares during the second quarter.
• Analysts have given varied ratings for Rhythm Pharmaceuticals, with the majority assigning a "Buy" rating and a consensus target price of $107.14.
• Rhythm Pharmaceuticals reported a revenue increase of 66.8% year-over-year for the latest quarter, despite missing earnings expectations with an EPS of ($0.75).

Aberdeen Group plc cut its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 37.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,657 shares of the company's stock after selling 40,472 shares during the period. Aberdeen Group plc owned approximately 0.11% of Rhythm Pharmaceuticals worth $4,275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Federated Hermes Inc. raised its position in shares of Rhythm Pharmaceuticals by 2.7% during the first quarter. Federated Hermes Inc. now owns 1,591,871 shares of the company's stock worth $84,321,000 after purchasing an additional 42,236 shares during the period. Driehaus Capital Management LLC raised its position in shares of Rhythm Pharmaceuticals by 12.9% during the first quarter. Driehaus Capital Management LLC now owns 1,458,022 shares of the company's stock worth $77,231,000 after purchasing an additional 167,047 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of Rhythm Pharmaceuticals during the first quarter worth $71,038,000. Price T Rowe Associates Inc. MD raised its position in shares of Rhythm Pharmaceuticals by 75.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,199,053 shares of the company's stock worth $63,515,000 after purchasing an additional 513,901 shares during the period. Finally, Checkpoint Capital L.P. raised its position in shares of Rhythm Pharmaceuticals by 24.6% during the first quarter. Checkpoint Capital L.P. now owns 907,240 shares of the company's stock worth $48,057,000 after purchasing an additional 179,258 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RYTM shares. Leerink Partnrs raised Rhythm Pharmaceuticals to a "strong-buy" rating in a research report on Monday, July 7th. Guggenheim upped their price target on Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, October 8th. HC Wainwright upped their price target on Rhythm Pharmaceuticals from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, September 29th. Finally, Morgan Stanley upped their price target on Rhythm Pharmaceuticals from $122.00 to $129.00 and gave the company an "overweight" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $107.14.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 1,520 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $85.93, for a total value of $130,613.60. Following the transaction, the insider owned 20,814 shares in the company, valued at $1,788,547.02. The trade was a 6.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Christopher Paul German sold 1,500 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $95.00, for a total value of $142,500.00. Following the completion of the transaction, the chief accounting officer owned 922 shares in the company, valued at $87,590. This trade represents a 61.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,280 shares of company stock worth $3,755,655. 6.10% of the stock is owned by company insiders.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ RYTM opened at $111.18 on Friday. The business's 50-day moving average price is $99.87 and its two-hundred day moving average price is $78.84. Rhythm Pharmaceuticals, Inc. has a one year low of $45.90 and a one year high of $113.91. The company has a market capitalization of $7.38 billion, a P/E ratio of -36.94 and a beta of 2.12.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.75) EPS for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.09). Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%. The firm had revenue of $48.50 million during the quarter, compared to analysts' expectations of $43.72 million. During the same quarter last year, the firm earned ($0.55) EPS. The business's revenue for the quarter was up 66.8% compared to the same quarter last year. On average, equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.

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