Banque Transatlantique SA Takes $1.69 Million Position in Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Banque Transatlantique SA has acquired a new stake in Rhythm Pharmaceuticals, purchasing 34,598 shares valued at approximately $1.69 million, representing about 0.05% of the company.
• Rhythm Pharmaceuticals reported a quarterly revenue of $48.50 million, exceeding expectations and marking a 66.8% increase year-over-year, though its EPS of ($0.75) was worse than anticipated.
• Several analysts have recently raised their price targets for Rhythm Pharmaceuticals' stock, with JMP Securities increasing their target from $130.00 to $135.00, indicating a favorable outlook for the company.

Banque Transatlantique SA purchased a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 34,598 shares of the company's stock, valued at approximately $1,694,000. Banque Transatlantique SA owned about 0.05% of Rhythm Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Westfield Capital Management Co. LP acquired a new position in shares of Rhythm Pharmaceuticals during the 1st quarter worth approximately $71,038,000. Janus Henderson Group PLC grew 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 purchasing an additional 621,432 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Rhythm Pharmaceuticals by 75.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,199,053 shares of the company's stock worth $63,515,000 after purchasing an additional 513,901 shares in the last quarter. Siren L.L.C. acquired a new position in shares of Rhythm Pharmaceuticals during the 1st quarter worth approximately $14,701,000. Finally, Comerica Bank grew its position in shares of Rhythm Pharmaceuticals by 1,330.2% during the 1st quarter. Comerica Bank now owns 244,754 shares of the company's stock worth $12,965,000 after purchasing an additional 227,641 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Guggenheim increased their target price on shares of Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Canaccord Genuity Group increased their target price on shares of Rhythm Pharmaceuticals from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Leerink Partnrs raised shares of Rhythm Pharmaceuticals to a "strong-buy" rating in a report on Monday, July 7th. Finally, JMP Securities upped their price target on shares of Rhythm Pharmaceuticals from $130.00 to $135.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company's stock. Based on data from MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of "Buy" and an average target price of $101.57.

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Pamela J. Cramer sold 15,572 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider owned 19,209 shares of the company's stock, valued at $1,481,590.17. This represents a 44.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Shulman sold 7,969 shares of the 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 completion of the transaction, the insider directly owned 8,509 shares of the company's stock, valued at approximately $661,830.02. The trade was a 48.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,146 shares of company stock worth $9,499,093 in the last 90 days. 6.10% of the stock is currently owned by company insiders.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock traded down $2.45 on Friday, reaching $102.12. 533,575 shares of the stock were exchanged, compared to its average volume of 544,176. The firm's 50 day moving average is $90.03 and its 200-day moving average is $69.50. Rhythm Pharmaceuticals, Inc. has a one year low of $45.90 and a one year high of $106.52. The firm has a market cap of $6.78 billion, a PE ratio of -33.93 and a beta of 2.23.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.09). The company had revenue of $48.50 million during the quarter, compared to the consensus estimate of $43.72 million. Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%. Rhythm Pharmaceuticals's revenue for the quarter was up 66.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.55) EPS. On average, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

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.