ADAR1 Capital Management LLC Acquires 5,949 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• ADAR1 Capital Management LLC increased its stake in Rhythm Pharmaceuticals by 19.2%, owning 36,890 shares worth approximately $1.95 million as of its latest SEC filing.
• The company has received multiple positive ratings from analysts, with a consensus rating of "Buy" and an average price target of $101.57.
• Insider selling activity has been noted, with CFO Hunter C. Smith selling over 42,000 shares, representing a 26.48% decrease in their position.

ADAR1 Capital Management LLC lifted its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 19.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,890 shares of the company's stock after acquiring an additional 5,949 shares during the quarter. ADAR1 Capital Management LLC owned approximately 0.06% of Rhythm Pharmaceuticals worth $1,954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in RYTM. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Rhythm Pharmaceuticals during the first quarter worth about $34,000. State of Wyoming bought a new position in shares of Rhythm Pharmaceuticals during the fourth quarter worth about $61,000. GF Fund Management CO. LTD. bought a new position in shares of Rhythm Pharmaceuticals during the fourth quarter worth about $72,000. CWM LLC raised its position in shares of Rhythm Pharmaceuticals by 92.3% during the first 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. Finally, Bayforest Capital Ltd bought a new position in shares of Rhythm Pharmaceuticals during the first quarter worth about $166,000.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RYTM. HC Wainwright raised their target price on Rhythm Pharmaceuticals from $80.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Wall Street Zen raised Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $95.00 target price (up previously from $72.00) on shares of Rhythm Pharmaceuticals in a research note on Wednesday, July 9th. Leerink Partnrs raised Rhythm Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 7th. Finally, Leerink Partners began coverage on Rhythm Pharmaceuticals in a research note on Monday, July 7th. They set an "outperform" rating and a $88.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $101.57.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock traded down $2.45 during mid-day trading on Friday, reaching $102.12. The stock had a trading volume of 533,575 shares, compared to its average volume of 544,176. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $45.90 and a fifty-two week high of $106.52. The stock's 50-day simple moving average is $90.03 and its 200-day simple moving average is $69.50. The firm has a market capitalization of $6.78 billion, a PE ratio of -33.93 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 analysts' consensus estimates of ($0.66) by ($0.09). The firm had revenue of $48.50 million during the quarter, compared to analyst estimates of $43.72 million. Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%. The company's revenue was up 66.8% on a year-over-year basis. During the same period last year, the business posted ($0.55) EPS. On average, research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Pamela J. Cramer sold 15,572 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $77.13, for a total transaction of $1,201,068.36. Following the transaction, the insider owned 19,209 shares of the company's stock, valued at $1,481,590.17. The trade was a 44.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher Paul German sold 3,817 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $80.75, for a total value of $308,222.75. Following the transaction, the chief accounting officer directly owned 922 shares in the company, valued at approximately $74,451.50. The trade was a 80.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,146 shares of company stock worth $9,499,093 in the last ninety days. Corporate insiders own 6.10% of the company's stock.

About Rhythm Pharmaceuticals

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.