Aberdeen Group plc Increases Stake in Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Aberdeen Group plc increased its stake in Rhythm Pharmaceuticals by 34.3%, owning 108,129 shares valued at approximately $5.7 million as of the latest reporting period.
• Insider trading revealed that CFO Hunter C. Smith sold 42,120 shares, resulting in a 26.48% decrease in his ownership, while total insider sales over the last quarter amounted to $9.56 million.
• Rhythm Pharmaceuticals reported a loss of $0.75 per share during its latest earnings call, exceeding analyst revenue estimates with $48.5 million in revenue, marking a 66.8% increase year-over-year.

Aberdeen Group plc increased its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 34.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 108,129 shares of the company's stock after buying an additional 27,612 shares during the period. Aberdeen Group plc owned about 0.17% of Rhythm Pharmaceuticals worth $5,728,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP purchased a new position in Rhythm Pharmaceuticals in the first quarter valued at $71,038,000. Janus Henderson Group PLC boosted its position in shares of Rhythm Pharmaceuticals by 103.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company's stock worth $68,309,000 after acquiring an additional 621,432 shares in the last quarter. Stempoint Capital LP increased its holdings in shares of Rhythm Pharmaceuticals by 404.1% in the 4th quarter. Stempoint Capital LP now owns 208,016 shares of the company's stock valued at $11,645,000 after acquiring an additional 166,748 shares during the last quarter. Integral Health Asset Management LLC purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at about $8,397,000. Finally, Nuveen LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the 1st quarter worth about $7,803,000.

Insider Buying and Selling

In related news, CFO Hunter C. Smith sold 42,120 shares of Rhythm Pharmaceuticals stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $80.48, for a total value of $3,389,817.60. Following the transaction, the chief financial officer directly owned 116,915 shares in the company, valued at $9,409,319.20. This trade represents a 26.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joseph Shulman sold 7,969 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $77.78, for a total transaction of $619,828.82. Following the completion of the transaction, the insider directly owned 8,509 shares in the company, valued at $661,830.02. This represents a 48.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,989 shares of company stock valued at $9,558,460. Company insiders own 6.10% of the company's stock.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock opened at $98.70 on Thursday. The company has a market capitalization of $6.56 billion, a P/E ratio of -32.79 and a beta of 2.38. Rhythm Pharmaceuticals, Inc. has a 1 year low of $43.57 and a 1 year high of $99.04. The company's fifty day moving average is $80.36 and its two-hundred day moving average is $65.85.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.09). Rhythm Pharmaceuticals had a negative return on equity of 1,831.43% and a negative net margin of 117.13%.The business had revenue of $48.50 million for the quarter, compared to analyst estimates of $43.72 million. During the same quarter last year, the company posted ($0.55) EPS. Rhythm Pharmaceuticals's quarterly revenue was up 66.8% on a year-over-year basis. As a group, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Stifel Nicolaus upped their price target on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Wall Street Zen raised shares of Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Leerink Partnrs upgraded shares of Rhythm Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 7th. Leerink Partners started coverage on shares of Rhythm Pharmaceuticals in a research report on Monday, July 7th. They issued an "outperform" rating and a $88.00 price target for the company. Finally, HC Wainwright raised their price objective on Rhythm Pharmaceuticals from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $101.57.

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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