Jump Financial LLC Invests $2.21 Million in Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Jump Financial LLC has invested approximately $2.21 million in Rhythm Pharmaceuticals, acquiring 41,760 shares, which constitutes about 0.07% of the company.
• Several large investors, including Westfield Capital Management and Janus Henderson Group, have made significant investments in Rhythm Pharmaceuticals, indicating strong institutional interest.
• Rhythm Pharmaceuticals reported a negative EPS of ($0.75) for the latest quarter, missing estimates, yet saw a revenue increase of 66.8% compared to the same quarter last year.

Jump Financial LLC purchased a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 41,760 shares of the company's stock, valued at approximately $2,212,000. Jump Financial LLC owned approximately 0.07% of Rhythm Pharmaceuticals as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in RYTM. Westfield Capital Management Co. LP bought a new stake in shares of Rhythm Pharmaceuticals during the 1st quarter worth about $71,038,000. Janus Henderson Group PLC boosted its stake in shares of Rhythm Pharmaceuticals by 103.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company's stock worth $68,309,000 after acquiring an additional 621,432 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Rhythm Pharmaceuticals by 75.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,199,053 shares of the company's stock worth $63,515,000 after acquiring an additional 513,901 shares in the last quarter. Stempoint Capital LP boosted its stake in shares of Rhythm Pharmaceuticals by 404.1% during the 4th quarter. Stempoint Capital LP now owns 208,016 shares of the company's stock worth $11,645,000 after acquiring an additional 166,748 shares in the last quarter. Finally, Integral Health Asset Management LLC bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $8,397,000.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $95.00, for a total value of $142,500.00. Following the completion of the sale, the chief accounting officer owned 922 shares in the company, valued at approximately $87,590. This trade represents a 61.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pamela J. Cramer sold 1,520 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $85.93, for a total value of $130,613.60. Following the completion of the sale, the insider owned 20,814 shares of the company's stock, valued at $1,788,547.02. This represents a 6.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,177 shares of company stock worth $9,977,553 over the last 90 days. Insiders own 6.10% of the company's stock.

Rhythm Pharmaceuticals Trading Up 1.1%

Shares of RYTM stock opened at $102.30 on Thursday. The stock has a 50 day moving average of $84.28 and a two-hundred day moving average of $67.28. Rhythm Pharmaceuticals, Inc. has a 12 month low of $45.00 and a 12 month high of $104.87. The company has a market capitalization of $6.79 billion, a P/E ratio of -33.99 and a beta of 2.38.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.75) EPS for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.09). Rhythm Pharmaceuticals had a negative return on equity of 1,831.43% and a negative net margin of 117.13%.The firm had revenue of $48.50 million during the quarter, compared to the consensus estimate of $43.72 million. During the same quarter in the prior year, the business posted ($0.55) EPS. Rhythm Pharmaceuticals's revenue was up 66.8% compared to the same quarter last year. Sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Leerink Partnrs upgraded Rhythm Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 7th. Stifel Nicolaus increased their target price on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Bank of America increased their target price on Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. HC Wainwright increased their target price on Rhythm Pharmaceuticals from $80.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group increased their target price on Rhythm Pharmaceuticals from $92.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $101.57.

Rhythm Pharmaceuticals Company Profile

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.

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