Rhythm Pharmaceuticals, Inc. $RYTM Position Raised by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC boosted its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 311.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 211,450 shares of the company's stock after purchasing an additional 160,101 shares during the quarter. Rhythm Pharmaceuticals comprises 1.1% of ADAR1 Capital Management LLC's holdings, making the stock its 20th biggest position. ADAR1 Capital Management LLC owned approximately 0.31% of Rhythm Pharmaceuticals worth $18,390,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Xponance LLC raised its stake in shares of Rhythm Pharmaceuticals by 2.6% during the fourth quarter. Xponance LLC now owns 4,269 shares of the company's stock valued at $457,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in 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 buying an additional 113 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Rhythm Pharmaceuticals by 0.7% during the 2nd quarter. Captrust Financial Advisors now owns 17,471 shares of the company's stock worth $1,104,000 after acquiring an additional 114 shares in the last quarter. GAMMA Investing LLC increased its stake in Rhythm Pharmaceuticals by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company's stock worth $39,000 after purchasing an additional 118 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased 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 acquiring an additional 145 shares in the last quarter.

Rhythm Pharmaceuticals Stock Up 1.8%

Shares of RYTM opened at $108.04 on Wednesday. The company has a 50-day moving average price of $99.72 and a two-hundred day moving average price of $95.85. Rhythm Pharmaceuticals, Inc. has a 12 month low of $74.50 and a 12 month high of $122.20. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of -34.52 and a beta of 1.88.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $60.11 million during the quarter, compared to analysts' expectations of $55.78 million. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The business's revenue was up 83.8% on a year-over-year basis. During the same period last year, the business earned ($0.81) earnings per share. Equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -3.1 EPS for the current fiscal year.

Insider Activity

In related news, Director Lynn A. Tetrault sold 37,000 shares of Rhythm Pharmaceuticals stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $100.32, for a total value of $3,711,840.00. Following the completion of the transaction, the director directly owned 7,000 shares of the company's stock, valued at $702,240. The trade was a 84.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada upped their target price on Rhythm Pharmaceuticals from $137.00 to $141.00 and gave the company an "outperform" rating in a report on Tuesday, July 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rhythm Pharmaceuticals in a report on Friday, July 17th. JPMorgan Chase & Co. assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Monday. They set an "overweight" rating and a $145.00 target price on the stock. Canaccord Genuity Group raised their target price on Rhythm Pharmaceuticals from $143.00 to $151.00 and gave the company a "buy" rating in a report on Tuesday, June 16th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 17th. Fifteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $138.73.

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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