Rhythm Pharmaceuticals, Inc. $RYTM Holdings Lifted by WCM Investment Management LLC

Key Points

• WCM Investment Management LLC increased its stake in Rhythm Pharmaceuticals by 79.9% in the first quarter, ending with 80,620 shares valued at about $7.0 million.
• Analyst sentiment is mostly positive: Rhythm has 14 Buy ratings, two Hold ratings and one Sell rating, with a Moderate Buy consensus and average price target of $138.29.
• The company recently beat quarterly expectations, reporting EPS of -$0.83 versus -$0.86 expected and revenue of $60.11 million, up 83.8% year over year.

WCM Investment Management LLC boosted its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 79.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,620 shares of the company's stock after buying an additional 35,815 shares during the period. WCM Investment Management LLC owned approximately 0.12% of Rhythm Pharmaceuticals worth $7,012,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company's stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Rhythm Pharmaceuticals by 73.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company's stock worth $37,000 after purchasing an additional 145 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 48.6% during the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company's stock worth $39,000 after purchasing an additional 118 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Rhythm Pharmaceuticals by 39.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company's stock worth $43,000 after purchasing an additional 113 shares during the period. Finally, Covestor Ltd grew its position in Rhythm Pharmaceuticals by 328.9% during the fourth quarter. Covestor Ltd now owns 579 shares of the company's stock valued at $62,000 after purchasing an additional 444 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RYTM shares. Wall Street Zen upgraded shares of Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Wells Fargo & Company boosted their price target on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an "overweight" rating in a report on Monday, June 15th. Stifel Nicolaus set a $133.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, June 15th. Royal Bank Of Canada upped their price target on shares of Rhythm Pharmaceuticals from $137.00 to $141.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Rhythm Pharmaceuticals in a report on Tuesday, April 21st. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $138.29.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, Director Lynn A. Tetrault sold 37,000 shares of Rhythm Pharmaceuticals stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $100.32, for a total value of $3,711,840.00. Following the completion of the sale, the director owned 7,000 shares of the company's stock, valued at approximately $702,240. The trade was a 84.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 5.90% of the company's stock.

Rhythm Pharmaceuticals Stock Performance

NASDAQ:RYTM opened at $104.60 on Tuesday. The company has a market capitalization of $7.17 billion, a P/E ratio of -33.42 and a beta of 1.88. The stock's 50 day moving average price is $97.99 and its 200 day moving average price is $95.80. Rhythm Pharmaceuticals, Inc. has a 52 week low of $74.50 and a 52 week high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.86) by $0.03. The firm had revenue of $60.11 million during the quarter, compared to analysts' expectations of $55.78 million. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The company's revenue was up 83.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.81) earnings per share. As a group, sell-side analysts forecast that Rhythm Pharmaceuticals, Inc. will post -3.1 earnings per share for the current fiscal year.

Rhythm Pharmaceuticals Profile

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company's research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company's lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.

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