E Fund Management Co. Ltd. Makes New Investment in Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• E Fund Management Co. Ltd. has made a new investment of approximately $286,000 in Rhythm Pharmaceuticals, acquiring 5,396 shares during the first quarter.
• The company's stock has exhibited substantial growth potential, with analysts predicting a price target increase to as high as $109.00, reflecting a strong "buy" sentiment from multiple research firms.
• Rhythm Pharmaceuticals reported a revenue increase of 66.8% year-over-year, despite a quarterly EPS loss of $(0.75), which was below analysts' expectations.

E Fund Management Co. Ltd. purchased a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,396 shares of the company's stock, valued at approximately $286,000.

Several other hedge funds also recently modified their holdings of the business. First Trust Advisors LP grew its stake in Rhythm Pharmaceuticals by 67.2% in the 4th quarter. First Trust Advisors LP now owns 118,337 shares of the company's stock valued at $6,625,000 after buying an additional 47,575 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Rhythm Pharmaceuticals by 1,386.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,518 shares of the company's stock valued at $239,000 after buying an additional 4,214 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Rhythm Pharmaceuticals by 491.0% in the 4th quarter. BNP Paribas Financial Markets now owns 85,249 shares of the company's stock valued at $4,772,000 after buying an additional 70,824 shares during the last quarter. SG Americas Securities LLC acquired a new position in Rhythm Pharmaceuticals in the 1st quarter valued at $1,042,000. Finally, Principal Financial Group Inc. grew its stake in Rhythm Pharmaceuticals by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 37,156 shares of the company's stock valued at $1,968,000 after buying an additional 272 shares during the last quarter.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 3,984 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $90.08, for a total transaction of $358,878.72. Following the completion of the transaction, the insider directly owned 8,509 shares of the company's stock, valued at $766,490.72. This trade represents a 31.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christopher Paul German sold 1,500 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $95.00, for a total transaction of $142,500.00. Following the transaction, the chief accounting officer directly owned 922 shares of the company's stock, valued at $87,590. This represents a 61.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 114,989 shares of company stock worth $9,558,460 in the last 90 days. 6.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RYTM shares. HC Wainwright raised their target price on shares of Rhythm Pharmaceuticals from $80.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Guggenheim raised their target price on shares of Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Stifel Nicolaus raised their target price on shares of Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Wells Fargo & Company increased their price target on shares of Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $95.00 price target (up from $72.00) on shares of Rhythm Pharmaceuticals in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company's stock. According to data from MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $101.57.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock traded up $1.51 during trading on Wednesday, hitting $98.70. 462,154 shares of the company's stock traded hands, compared to its average volume of 556,466. The firm's fifty day moving average price is $80.36 and its 200 day moving average price is $65.85. Rhythm Pharmaceuticals, Inc. has a twelve month low of $43.57 and a twelve month high of $99.04. The company has a market cap of $6.56 billion, a PE ratio of -32.79 and a beta of 2.38.

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