Rhythm Pharmaceuticals, Inc. $RYTM Shares Acquired by Algert Global LLC

Key Points

• Algert Global LLC increased its position in Rhythm Pharmaceuticals by 47.9% in the first quarter, now owning 61,461 shares valued at approximately $3.26 million.
• Rhythm Pharmaceuticals saw positive ratings from several analysts, with target prices raised between $95.00 and $135.00, and a consensus rating of "Buy."
• Despite reporting a quarterly loss of ($0.75) EPS, the company's revenue increased by 66.8% year-over-year to $48.5 million, surpassing analysts’ expectations.

Algert Global LLC lifted its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 47.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,461 shares of the company's stock after buying an additional 19,910 shares during the quarter. Algert Global LLC owned approximately 0.10% of Rhythm Pharmaceuticals worth $3,256,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Victory Capital Management Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 1.0% in the first quarter. Victory Capital Management Inc. now owns 17,326 shares of the company's stock worth $918,000 after buying an additional 174 shares during the period. Xponance Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 4.7% in the first quarter. Xponance Inc. now owns 4,365 shares of the company's stock worth $231,000 after buying an additional 197 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 0.7% in the first quarter. Principal Financial Group Inc. now owns 37,156 shares of the company's stock worth $1,968,000 after buying an additional 272 shares during the period. GF Fund Management CO. LTD. raised its holdings in shares of Rhythm Pharmaceuticals by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,573 shares of the company's stock worth $83,000 after buying an additional 283 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in shares of Rhythm Pharmaceuticals by 2.3% in the fourth quarter. Two Sigma Advisers LP now owns 13,100 shares of the company's stock worth $733,000 after buying an additional 300 shares during the period.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 1,520 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $85.93, for a total transaction of $130,613.60. Following the completion of the sale, the insider owned 20,814 shares of the company's stock, valued at approximately $1,788,547.02. The trade was a 6.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Christopher Paul German sold 1,500 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $95.00, for a total value of $142,500.00. Following the sale, the chief accounting officer directly owned 922 shares of the company's stock, valued at approximately $87,590. This represents a 61.93% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,177 shares of company stock worth $9,977,553. 6.10% of the stock is owned by insiders.

Rhythm Pharmaceuticals Stock Down 3.9%

Shares of Rhythm Pharmaceuticals stock traded down $4.07 during trading on Monday, reaching $99.20. The company's stock had a trading volume of 625,537 shares, compared to its average volume of 583,114. The company has a market cap of $6.59 billion, a price-to-earnings ratio of -32.96 and a beta of 2.38. Rhythm Pharmaceuticals, Inc. has a 1-year low of $45.00 and a 1-year high of $104.87. The company has a 50-day simple moving average of $82.68 and a two-hundred day simple moving average of $66.80.

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

Analysts Set New Price Targets

RYTM has been the topic of several recent analyst reports. JMP Securities increased their price target on Rhythm Pharmaceuticals from $130.00 to $135.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Morgan Stanley reiterated an "overweight" rating and issued a $109.00 price target (up from $100.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, August 5th. Wall Street Zen upgraded Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Needham & Company LLC restated a "buy" rating and set a $95.00 price objective (up from $72.00) on shares of Rhythm Pharmaceuticals in a report on Wednesday, July 9th. 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 research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average 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.