ADAR1 Capital Management LLC Makes New Investment in Rhythm Pharmaceuticals, Inc. $RYTM

ADAR1 Capital Management LLC acquired a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 136,158 shares of the company's stock, valued at approximately $15,118,000. ADAR1 Capital Management LLC owned approximately 0.20% of Rhythm Pharmaceuticals as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company's stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in shares of 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 buying an additional 145 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 97 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 39.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company's stock valued at $43,000 after buying an additional 113 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 2nd quarter valued at $51,000.

Analyst Ratings Changes

RYTM has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an "overweight" rating in a research report on Monday, June 15th. Stifel Nicolaus set a $133.00 price objective on Rhythm Pharmaceuticals in a report on Monday, June 15th. Citigroup reiterated a "market outperform" rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Wall Street Zen raised Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Citizens Jmp boosted their target price on Rhythm Pharmaceuticals from $155.00 to $160.00 and gave the company a "market outperform" rating in a report on Wednesday, August 5th. Fifteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $142.44.

Rhythm Pharmaceuticals Stock Up 1.7%

NASDAQ RYTM opened at $113.35 on Wednesday. The stock has a market capitalization of $7.77 billion, a P/E ratio of -36.45 and a beta of 1.92. Rhythm Pharmaceuticals, Inc. has a 52-week low of $74.50 and a 52-week high of $122.20. The firm has a 50-day moving average price of $108.94 and a 200 day moving average price of $96.76.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.73) earnings per share for the quarter, beating 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 earned ($0.75) EPS. The firm's revenue for the quarter was up 46.9% compared to the same quarter last year. On average, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -2.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, insider Alastair Garfield sold 7,763 shares of the company's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $117.57, for a total transaction of $912,695.91. Following the transaction, the insider directly owned 2,295 shares of the company's stock, valued at $269,823.15. This represents a 77.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Yann Mazabraud sold 57,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $116.15, for a total transaction of $6,620,550.00. Following the completion of the transaction, the executive vice president owned 55,655 shares of the company's stock, valued at $6,464,328.25. This represents a 50.60% 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 90 days, insiders sold 182,676 shares of company stock worth $20,754,691. Company insiders own 5.90% of the company's stock.

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.

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