Fox Run Management L.L.C. Invests $1.02 Million in Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Fox Run Management L.L.C. has invested approximately $1,016,000 in Rhythm Pharmaceuticals by acquiring 19,172 shares.
• Several analysts have increased their price targets for Rhythm Pharmaceuticals, with a consensus target now at $101.57 and a majority rating the stock as a "buy".
• Insider sales have been significant, with insiders selling 114,989 shares valued at over $9.5 million in the last quarter, reducing their ownership to 6.10% of the company.

Fox Run Management L.L.C. acquired 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 Securities and Exchange Commission. The fund acquired 19,172 shares of the company's stock, valued at approximately $1,016,000.

Other hedge funds also recently bought and sold shares of the company. State of Wyoming acquired a new position in Rhythm Pharmaceuticals during the fourth quarter valued at $61,000. GF Fund Management CO. LTD. purchased a new position in Rhythm Pharmaceuticals during the 4th quarter valued at about $72,000. CWM LLC increased its holdings in shares of Rhythm Pharmaceuticals by 92.3% in the 1st quarter. CWM LLC now owns 2,584 shares of the company's stock valued at $137,000 after purchasing an additional 1,240 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Rhythm Pharmaceuticals in the 1st quarter valued at about $166,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth approximately $218,000.

Insider Activity

In related news, CFO Hunter C. Smith sold 42,120 shares of Rhythm Pharmaceuticals stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $80.48, for a total value of $3,389,817.60. Following the transaction, the chief financial officer owned 116,915 shares in the company, valued at $9,409,319.20. This trade represents a 26.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Christopher Paul German sold 3,817 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $80.75, for a total transaction of $308,222.75. Following the sale, the chief accounting officer owned 922 shares of the company's stock, valued at $74,451.50. This trade represents a 80.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,989 shares of company stock valued at $9,558,460. 6.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RYTM. Wall Street Zen raised shares of Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Morgan Stanley reissued an "overweight" rating and set a $109.00 target price (up previously from $100.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, August 5th. Stifel Nicolaus boosted their price target on shares of Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Oppenheimer upped their price target on shares of Rhythm Pharmaceuticals from $76.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $95.00 price objective (up from $72.00) on shares of Rhythm Pharmaceuticals in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, Rhythm Pharmaceuticals currently has an average rating of "Buy" and a consensus price target of $101.57.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM stock traded up $1.51 during trading on Wednesday, reaching $98.70. The company had a trading volume of 462,154 shares, compared to its average volume of 556,466. The firm's 50 day simple moving average is $80.36 and its two-hundred day simple moving average is $65.85. Rhythm Pharmaceuticals, Inc. has a one year low of $43.57 and a one year high of $99.04. The company has a market capitalization of $6.56 billion, a PE ratio of -32.79 and a beta of 2.38.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.75) EPS 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 company had revenue of $48.50 million for the quarter, compared to analyst estimates of $43.72 million. During the same quarter last year, the business earned ($0.55) EPS. The company's revenue for the quarter was up 66.8% on a year-over-year basis. Analysts forecast 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.