Advisors Asset Management Inc. Acquires 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. lifted its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 44.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RYTM. Ameriprise Financial Inc. lifted its holdings in shares of Rhythm Pharmaceuticals by 27.4% in the 4th quarter. Ameriprise Financial Inc. now owns 53,367 shares of the company's stock valued at $2,987,000 after acquiring an additional 11,480 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Rhythm Pharmaceuticals by 491.0% in the 4th quarter. BNP Paribas Financial Markets now owns 85,249 shares of the company's stock valued at $4,772,000 after acquiring an additional 70,824 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Rhythm Pharmaceuticals by 46.5% in the 4th quarter. Deutsche Bank AG now owns 48,745 shares of the company's stock valued at $2,729,000 after acquiring an additional 15,481 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Rhythm Pharmaceuticals by 1,022.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 48,198 shares of the company's stock worth $2,698,000 after purchasing an additional 43,904 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Rhythm Pharmaceuticals by 103.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company's stock worth $68,309,000 after purchasing an additional 621,432 shares during the last quarter.

Insider Activity

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 15,572 shares of Rhythm Pharmaceuticals stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $77.13, for a total value of $1,201,068.36. Following the transaction, the insider directly owned 19,209 shares of the company's stock, valued at approximately $1,481,590.17. The trade was a 44.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Shulman sold 7,969 shares of Rhythm Pharmaceuticals stock in a transaction on Wednesday, July 9th. The stock was 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. Insiders sold a total of 110,077 shares of company stock valued at $9,360,077 over the last three months. Company insiders own 6.10% of the company's stock.

Rhythm Pharmaceuticals Trading Down 1.2%

NASDAQ RYTM opened at $100.27 on Thursday. The firm's fifty day simple moving average is $92.15 and its two-hundred day simple moving average is $70.39. Rhythm Pharmaceuticals, Inc. has a 12-month low of $45.90 and a 12-month high of $106.52. The firm has a market capitalization of $6.66 billion, a P/E ratio of -33.31 and a beta of 2.23.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.75) earnings per share (EPS) 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 firm had revenue of $48.50 million during the quarter, compared to analysts' expectations of $43.72 million. During the same period in the prior year, the firm posted ($0.55) earnings per share. Rhythm Pharmaceuticals's revenue for the quarter was up 66.8% compared to the same quarter last year. As a group, sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RYTM. Bank of America raised their price objective on shares of Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Wall Street Zen raised shares of Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Guggenheim lifted their price target on shares of Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Leerink Partnrs raised shares of Rhythm Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Canaccord Genuity Group lifted their price target on shares of Rhythm Pharmaceuticals from $92.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One 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 stock has an average rating of "Buy" and a consensus price target of $101.57.

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.

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