Deutsche Bank AG Purchases New Position in Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Deutsche Bank purchased 115,232 shares of Rhythm Pharmaceuticals in the second quarter, valued at approximately $12.8 million, giving it a 0.17% stake.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $142.44, compared with the stock’s reported opening price of $110.
• Rhythm reported quarterly revenue of $71.25 million, up 46.9% year over year, and an adjusted loss of $0.73 per share that beat analyst expectations; however, insiders sold more than 182,000 shares worth approximately $20.8 million over the past 90 days.

Deutsche Bank AG purchased a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 115,232 shares of the company's stock, valued at approximately $12,794,000. Deutsche Bank AG owned 0.17% of Rhythm Pharmaceuticals at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company's stock valued at $28,000 after purchasing an additional 200 shares during the period. SBI Securities Co. Ltd. increased its position in shares of Rhythm Pharmaceuticals by 73.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company's stock valued at $37,000 after buying an additional 145 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Rhythm Pharmaceuticals by 36.3% during the 2nd quarter. GAMMA Investing LLC now owns 364 shares of the company's stock worth $40,000 after buying an additional 97 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Rhythm Pharmaceuticals by 39.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company's stock worth $43,000 after buying an additional 113 shares during the period. Finally, Global Retirement Partners LLC purchased a new position in shares of Rhythm Pharmaceuticals during the 2nd quarter valued at approximately $51,000.

Insider Buying and Selling

In other news, insider Alastair Garfield sold 7,763 shares of the company's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $117.57, for a total transaction of $912,695.91. Following the completion of the sale, the insider owned 2,295 shares of the company's stock, valued at $269,823.15. This represents a 77.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Joseph Shulman sold 5,079 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $119.75, for a total transaction of $608,210.25. Following the completion of the sale, the insider owned 15,915 shares of the company's stock, valued at $1,905,821.25. This trade represents a 24.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 182,676 shares of company stock worth $20,754,691 in the last ninety days. Company insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on RYTM. Stifel Nicolaus set a $133.00 price target on shares of Rhythm Pharmaceuticals in a research note on Monday, June 15th. Canaccord Genuity Group set a $154.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. TD Cowen reaffirmed a "buy" rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 17th. Citigroup reiterated a "market outperform" rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Finally, National Bank Financial set a $160.00 target price on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 5th. Fifteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.44.

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM opened at $110.00 on Friday. The stock's 50 day simple moving average is $108.03 and its 200-day simple moving average is $96.78. The company has a market cap of $7.54 billion, a PE ratio of -35.37 and a beta of 1.92. Rhythm Pharmaceuticals, Inc. has a 1-year low of $74.50 and a 1-year high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative return on equity of 159.87% and a negative net margin of 85.59%.The firm had revenue of $71.25 million during the quarter, compared to analysts' expectations of $67.66 million. During the same period in the previous year, the business earned ($0.75) earnings per share. The firm's revenue for the quarter was up 46.9% on a year-over-year basis. On average, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -2.82 EPS for the current fiscal year.

Rhythm Pharmaceuticals Company 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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