Dimensional Fund Advisors LP Sells 12,867 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Dimensional Fund Advisors reduced its Rhythm Pharmaceuticals stake by 40.2% in the first quarter, selling 12,867 shares and retaining 19,151 shares valued at approximately $1.67 million.
• 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 estimates. Analysts expect a full-year loss of $2.82 per share.
• The stock opened at $116.02, while analysts maintained a generally positive view: 15 rated it Buy, two Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $142.44.

Dimensional Fund Advisors LP cut its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 40.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,151 shares of the company's stock after selling 12,867 shares during the quarter. Dimensional Fund Advisors LP's holdings in Rhythm Pharmaceuticals were worth $1,666,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. AlphaCentric Advisors LLC increased its stake in shares of Rhythm Pharmaceuticals by 84.0% in the first quarter. AlphaCentric Advisors LLC now owns 9,297 shares of the company's stock worth $809,000 after purchasing an additional 4,245 shares during the period. Swiss National Bank boosted its stake in Rhythm Pharmaceuticals by 0.8% during the 1st quarter. Swiss National Bank now owns 112,200 shares of the company's stock valued at $9,758,000 after purchasing an additional 900 shares during the period. Chicago Partners Investment Group LLC grew its holdings in Rhythm Pharmaceuticals by 14.1% in the 1st quarter. Chicago Partners Investment Group LLC now owns 3,125 shares of the company's stock valued at $266,000 after buying an additional 386 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Rhythm Pharmaceuticals in the 1st quarter valued at approximately $457,000. Finally, Candriam S.C.A. increased its position in Rhythm Pharmaceuticals by 61.3% in the 1st quarter. Candriam S.C.A. now owns 464,340 shares of the company's stock worth $40,384,000 after buying an additional 176,433 shares during the period.

Rhythm Pharmaceuticals Price Performance

RYTM opened at $116.02 on Friday. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $74.50 and a fifty-two week high of $122.20. The firm's fifty day moving average price is $104.85 and its two-hundred day moving average price is $96.32. The company has a market capitalization of $7.95 billion, a P/E ratio of -37.31 and a beta of 1.92.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Rhythm Pharmaceuticals from $145.00 to $146.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Stifel Nicolaus set a $133.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, June 15th. Citigroup reaffirmed a "market outperform" rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. TD Cowen reiterated a "buy" rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Finally, National Bank Financial set a $160.00 price target on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Fifteen 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $142.44.

Insider Transactions at Rhythm Pharmaceuticals

In related news, Director Lynn A. Tetrault sold 37,000 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $100.32, for a total value of $3,711,840.00. Following the completion of the transaction, the director owned 7,000 shares of the company's stock, valued at $702,240. This represents a 84.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is owned by company insiders.

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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