Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd significantly increased its holdings in Rhythm Pharmaceuticals by 293.8% in the first quarter, acquiring nearly 29,949 shares valued at approximately $1.58 million.
• In its latest quarterly earnings report, Rhythm Pharmaceuticals reported a loss of ($0.81) EPS, which was below the consensus estimate, with revenue of $37.72 million.
• Analysts have a consensus rating of "Buy" for Rhythm Pharmaceuticals, with an average price target of $91.93, after several firms issued positive ratings and boosted price targets recently.

XTX Topco Ltd raised its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 293.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,949 shares of the company's stock after purchasing an additional 22,344 shares during the quarter. XTX Topco Ltd's holdings in Rhythm Pharmaceuticals were worth $1,586,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. First Trust Advisors LP increased its stake in shares of Rhythm Pharmaceuticals by 67.2% during the fourth quarter. First Trust Advisors LP now owns 118,337 shares of the company's stock worth $6,625,000 after acquiring an additional 47,575 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Rhythm Pharmaceuticals during the fourth quarter worth about $521,000. BNP Paribas Financial Markets increased its stake in shares of Rhythm Pharmaceuticals by 491.0% during the fourth quarter. BNP Paribas Financial Markets now owns 85,249 shares of the company's stock worth $4,772,000 after acquiring an additional 70,824 shares during the period. SG Americas Securities LLC acquired a new position in shares of Rhythm Pharmaceuticals during the first quarter worth about $1,042,000. Finally, Principal Financial Group Inc. boosted its holdings in Rhythm Pharmaceuticals by 0.7% during the first quarter. Principal Financial Group Inc. now owns 37,156 shares of the company's stock worth $1,968,000 after buying an additional 272 shares in the last quarter.

Insider Activity

In related news, CFO Hunter C. Smith sold 42,120 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $80.48, for a total transaction of $3,389,817.60. Following the completion of the transaction, the chief financial officer owned 116,915 shares of the company's stock, valued at approximately $9,409,319.20. This represents a 26.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alastair Garfield sold 1,319 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $64.81, for a total transaction of $85,484.39. Following the transaction, the insider directly owned 3,126 shares of the company's stock, valued at $202,596.06. This trade represents a 29.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,417 shares of company stock valued at $6,352,511 in the last ninety days. 6.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. HC Wainwright reissued a "buy" rating and set a $80.00 price objective (up previously from $70.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 8th. Leerink Partnrs raised shares of Rhythm Pharmaceuticals to a "strong-buy" rating in a report on Monday, July 7th. 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 price objective on the stock. Guggenheim reissued a "buy" rating on shares of Rhythm Pharmaceuticals in a report on Thursday, July 10th. Finally, Bank of America boosted their price objective on shares of Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $91.93.

Rhythm Pharmaceuticals Stock Up 0.3%

Shares of NASDAQ:RYTM traded up $0.23 during trading on Monday, reaching $88.53. The stock had a trading volume of 131,006 shares, compared to its average volume of 669,346. The business has a fifty day moving average price of $72.39 and a 200-day moving average price of $62.57. The stock has a market cap of $5.63 billion, a P/E ratio of -31.52 and a beta of 2.38. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $40.61 and a fifty-two week high of $94.80.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.12). Rhythm Pharmaceuticals had a negative return on equity of 739.62% and a negative net margin of 123.26%. The company had revenue of $37.72 million for the quarter, compared to analyst estimates of $40.43 million. During the same period last year, the company posted ($2.35) EPS. The business's revenue for the quarter was up 25.9% on a year-over-year basis. As a group, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

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.