Advisors Asset Management Inc. Purchases 3,176 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Advisors Asset Management Inc. increased its stake in Rhythm Pharmaceuticals by 44.9%, acquiring an additional 3,176 shares, bringing its total holdings to 10,250 shares valued at approximately $543,000.
• Several institutional investors also boosted their positions in Rhythm Pharmaceuticals, with Ameriprise Financial increasing its stake by 27.4% and BNP Paribas Financial Markets by a staggering 491.0% in the last quarter.
• Rhythm Pharmaceuticals recently reported a revenue increase of 66.8% year-over-year, despite missing earnings expectations, resulting in a net loss of ($0.75) EPS for the quarter.

Advisors Asset Management Inc. increased its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 44.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,250 shares of the company's stock after acquiring an additional 3,176 shares during the period. Advisors Asset Management Inc.'s holdings in Rhythm Pharmaceuticals were worth $543,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Rhythm Pharmaceuticals during the 1st quarter worth approximately $34,000. State of Wyoming bought a new position in shares of Rhythm Pharmaceuticals in the fourth quarter valued at $61,000. GF Fund Management CO. LTD. acquired a new position in Rhythm Pharmaceuticals during the fourth quarter worth $72,000. CWM LLC raised its position in Rhythm Pharmaceuticals by 92.3% during the first quarter. CWM LLC now owns 2,584 shares of the company's stock worth $137,000 after acquiring an additional 1,240 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new stake in Rhythm Pharmaceuticals during the first quarter worth $166,000.

Rhythm Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ:RYTM traded down $0.52 during trading on Tuesday, reaching $95.51. 379,688 shares of the company traded hands, compared to its average volume of 544,019. The company's 50 day moving average is $94.60 and its two-hundred day moving average is $71.70. Rhythm Pharmaceuticals, Inc. has a 52 week low of $45.90 and a 52 week high of $106.52. The firm has a market capitalization of $6.34 billion, a PE ratio of -31.73 and a beta of 2.23.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.75) earnings per share (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 the consensus estimate of $43.72 million. During the same period last year, the business earned ($0.55) earnings per share. The business's revenue was up 66.8% compared to the same quarter last year. As a group, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RYTM shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $95.00 target price (up from $72.00) on shares of Rhythm Pharmaceuticals in a report on Wednesday, July 9th. Guggenheim upped their price objective on Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. JMP Securities raised their price objective on Rhythm Pharmaceuticals from $130.00 to $135.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. The Goldman Sachs Group started coverage on Rhythm Pharmaceuticals in a research note on Thursday, July 10th. They set a "buy" rating and a $97.00 target price for the company. Finally, Stifel Nicolaus increased their price target on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $101.57.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 7,969 shares of Rhythm Pharmaceuticals stock in a transaction that occurred 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 sale, the insider directly owned 8,509 shares in the company, valued at $661,830.02. This trade represents a 48.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Christopher Paul German sold 3,817 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $80.75, for a total transaction of $308,222.75. Following the sale, the chief accounting officer directly owned 922 shares of the company's stock, valued at approximately $74,451.50. This trade represents a 80.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,077 shares of company stock worth $9,360,077 in the last 90 days. Corporate insiders own 6.10% of the company's stock.

Rhythm Pharmaceuticals Company Profile

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.