Leo Wealth LLC Has $850,000 Stock Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Leo Wealth LLC reduced its holdings in Rhythm Pharmaceuticals, Inc. by 16.0% in Q2, now owning 13,445 shares worth approximately $850,000.
• Rhythm Pharmaceuticals reported a loss of ($0.75) EPS for the last quarter, missing consensus estimates, although revenue increased by 66.8% year-over-year.
• The company's stock has an average analyst rating of "Moderate Buy" with a consensus target price of $106.64, reflecting optimistic outlook despite recent insider sales.

Leo Wealth LLC trimmed its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 16.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,445 shares of the company's stock after selling 2,555 shares during the quarter. Leo Wealth LLC's holdings in Rhythm Pharmaceuticals were worth $850,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RYTM. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Rhythm Pharmaceuticals during the 1st quarter worth approximately $34,000. GF Fund Management CO. LTD. grew its holdings in Rhythm Pharmaceuticals by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,573 shares of the company's stock worth $83,000 after acquiring an additional 283 shares during the last quarter. CWM LLC grew its holdings in Rhythm Pharmaceuticals by 92.3% during the 1st quarter. CWM LLC now owns 2,584 shares of the company's stock worth $137,000 after acquiring an additional 1,240 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Rhythm Pharmaceuticals by 16.2% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,458 shares of the company's stock worth $155,000 after acquiring an additional 342 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new stake in Rhythm Pharmaceuticals during the 1st quarter worth approximately $166,000.

Rhythm Pharmaceuticals Stock Down 0.0%

Shares of NASDAQ RYTM opened at $100.21 on Friday. The firm has a market cap of $6.66 billion, a PE ratio of -33.29 and a beta of 2.12. Rhythm Pharmaceuticals, Inc. has a 12-month low of $45.90 and a 12-month high of $106.52. The company's fifty day simple moving average is $98.32 and its 200 day simple moving average is $77.06.

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

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Pamela J. Cramer sold 1,520 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $85.93, for a total transaction of $130,613.60. Following the transaction, the insider directly owned 20,814 shares of the company's stock, valued at $1,788,547.02. This represents a 6.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Hunter C. Smith sold 24,611 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $96.33, for a total transaction of $2,370,777.63. Following the transaction, the chief financial officer directly owned 116,915 shares in the company, valued at approximately $11,262,421.95. This represents a 17.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,280 shares of company stock valued at $3,755,655 in the last ninety days. Insiders own 6.10% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Leerink Partners assumed coverage on shares of Rhythm Pharmaceuticals in a report on Monday, July 7th. They set an "outperform" rating and a $88.00 target price on the stock. Oppenheimer boosted their target price on shares of Rhythm Pharmaceuticals from $76.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Citigroup reissued an "outperform" rating on shares of Rhythm Pharmaceuticals in a report on Thursday, September 25th. JMP Securities increased their price objective on shares of Rhythm Pharmaceuticals from $135.00 to $142.00 and gave the stock a "market outperform" rating in a research report on Thursday, September 25th. Finally, Wall Street Zen upgraded shares of Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $106.64.

Rhythm Pharmaceuticals 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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