Candriam S.C.A. Has $40.38 Million Stock Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Candriam S.C.A. increased its stake in Rhythm Pharmaceuticals by 61.3% in the first quarter, ending with 464,340 shares valued at about $40.38 million.
• Several other institutional investors also boosted holdings in RYTM, including Vanguard, RA Capital, and Jennison Associates, highlighting broad institutional interest in the stock.
• Rhythm Pharmaceuticals beat quarterly earnings and revenue estimates, reporting EPS of -$0.83 versus -$0.86 expected and revenue of $60.11 million, up 83.8% year over year. Analysts remain generally bullish, with a consensus rating of Moderate Buy and an average price target of $138.29.

Candriam S.C.A. raised its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 61.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 464,340 shares of the company's stock after buying an additional 176,433 shares during the quarter. Candriam S.C.A. owned 0.68% of Rhythm Pharmaceuticals worth $40,384,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in RYTM. Vanguard Group Inc. boosted its position in shares of Rhythm Pharmaceuticals by 24.3% in the fourth quarter. Vanguard Group Inc. now owns 6,210,916 shares of the company's stock valued at $664,816,000 after acquiring an additional 1,214,489 shares during the period. RA Capital Management L.P. increased its position in Rhythm Pharmaceuticals by 17.3% during the fourth quarter. RA Capital Management L.P. now owns 6,666,837 shares of the company's stock worth $713,618,000 after acquiring an additional 985,478 shares during the period. Alliancebernstein L.P. increased its position in Rhythm Pharmaceuticals by 1,493.8% during the third quarter. Alliancebernstein L.P. now owns 979,682 shares of the company's stock worth $98,938,000 after acquiring an additional 918,212 shares during the period. Jennison Associates LLC raised its stake in Rhythm Pharmaceuticals by 123.2% during the 4th quarter. Jennison Associates LLC now owns 918,567 shares of the company's stock valued at $98,323,000 after purchasing an additional 507,017 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in Rhythm Pharmaceuticals by 64.7% during the 4th quarter. Capital Research Global Investors now owns 985,086 shares of the company's stock valued at $105,444,000 after purchasing an additional 386,839 shares during the last quarter.

Insider Buying and Selling

In related news, Director Lynn A. Tetrault sold 37,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the sale, the director directly owned 7,000 shares in the company, valued at $702,240. This represents a 84.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RYTM. Citizens Jmp decreased their price target on shares of Rhythm Pharmaceuticals from $176.00 to $152.00 and set a "market outperform" rating on the stock in a research report on Tuesday, March 17th. Needham & Company LLC cut their price objective on shares of Rhythm Pharmaceuticals from $139.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, March 17th. Royal Bank Of Canada increased their target price on shares of Rhythm Pharmaceuticals from $137.00 to $141.00 and gave the company an "outperform" rating in a research note on Tuesday. HC Wainwright decreased their target price on Rhythm Pharmaceuticals from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, March 18th. Finally, Stifel Nicolaus set a $133.00 price target on Rhythm Pharmaceuticals in a research note on Monday, June 15th. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $138.29.

Rhythm Pharmaceuticals Stock Performance

RYTM opened at $108.40 on Friday. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of -34.63 and a beta of 1.88. The firm's 50-day simple moving average is $96.06 and its 200-day simple moving average is $96.07. Rhythm Pharmaceuticals, Inc. has a twelve month low of $74.50 and a twelve month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.03. The firm had revenue of $60.11 million for the quarter, compared to analysts' expectations of $55.78 million. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The company's quarterly revenue was up 83.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.81) earnings per share. As a group, sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -3.11 EPS for the current fiscal year.

Rhythm Pharmaceuticals 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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