Jump Financial LLC Makes New $2.21 Million Investment 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 stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RYTM. Victory Capital Management Inc. boosted its position in shares of Rhythm Pharmaceuticals by 1.0% during the 1st quarter. Victory Capital Management Inc. now owns 17,326 shares of the company's stock valued at $918,000 after acquiring an additional 174 shares during the last quarter. Xponance Inc. increased its position in Rhythm Pharmaceuticals by 4.7% in the first quarter. Xponance Inc. now owns 4,365 shares of the company's stock worth $231,000 after purchasing an additional 197 shares during the last quarter. Principal Financial Group Inc. raised its stake in Rhythm Pharmaceuticals by 0.7% during the first quarter. Principal Financial Group Inc. now owns 37,156 shares of the company's stock valued at $1,968,000 after purchasing an additional 272 shares in the last quarter. GF Fund Management CO. LTD. lifted its position in Rhythm Pharmaceuticals by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,573 shares of the company's stock valued at $83,000 after purchasing an additional 283 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in Rhythm Pharmaceuticals by 2.3% during the fourth quarter. Two Sigma Advisers LP now owns 13,100 shares of the company's stock valued at $733,000 after purchasing an additional 300 shares during the last quarter.

Rhythm Pharmaceuticals Trading Up 1.0%

Shares of RYTM stock traded up $1.06 on Tuesday, reaching $104.21. 754,704 shares of the company's stock were exchanged, compared to its average volume of 540,772. The company's fifty day simple moving average is $87.59 and its 200 day simple moving average is $68.63. Rhythm Pharmaceuticals, Inc. has a 52 week low of $45.00 and a 52 week high of $106.52. The stock has a market capitalization of $6.92 billion, a PE ratio of -34.62 and a beta of 2.23.

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 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 during the quarter, compared to the consensus estimate of $43.72 million. During the same period last year, the company earned ($0.55) EPS. The business's revenue was up 66.8% compared to the same quarter last year. As a group, sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Pamela J. Cramer sold 1,520 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $85.93, for a total value of $130,613.60. Following the transaction, the insider owned 20,814 shares of the company's stock, valued at $1,788,547.02. This trade represents a 6.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph Shulman sold 4,188 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $100.07, for a total transaction of $419,093.16. Following the completion of the transaction, the insider directly owned 8,509 shares in the company, valued at $851,495.63. This represents a 32.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,177 shares of company stock valued at $9,977,553 over the last ninety days. Company insiders own 6.10% of the company's stock.

Analyst Upgrades and Downgrades

RYTM has been the topic of several recent research reports. Needham & Company LLC restated a "buy" rating and set a $95.00 target price (up from $72.00) on shares of Rhythm Pharmaceuticals in a research report on Wednesday, July 9th. Wells Fargo & Company boosted their price objective on Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Stifel Nicolaus upped their price objective on Rhythm Pharmaceuticals from $78.00 to $94.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Canaccord Genuity Group lifted their target price on Rhythm Pharmaceuticals from $92.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Wall Street Zen raised Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average 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.