Intech Investment Management LLC Has $1.80 Million Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Intech Investment Management LLC increased its stake in Rhythm Pharmaceuticals by 20.7%, owning 33,893 shares valued at approximately $1.8 million following a purchase of an additional 5,801 shares.
• Several other investors also adjusted their holdings, including Checkpoint Capital L.P., which boosted its position by 24.6%, now holding shares worth about $48 million.
• Rhythm Pharmaceuticals reported a loss of ($0.75) EPS for the recent quarter, missing expectations, but also achieved a 66.8% increase in revenue compared to the previous year.

Intech Investment Management LLC increased its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 20.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,893 shares of the company's stock after buying an additional 5,801 shares during the period. Intech Investment Management LLC owned 0.05% of Rhythm Pharmaceuticals worth $1,795,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its holdings in Rhythm Pharmaceuticals by 2.7% in the first quarter. Federated Hermes Inc. now owns 1,591,871 shares of the company's stock worth $84,321,000 after buying an additional 42,236 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in Rhythm Pharmaceuticals by 12.9% during the first quarter. Driehaus Capital Management LLC now owns 1,458,022 shares of the company's stock valued at $77,231,000 after purchasing an additional 167,047 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in Rhythm Pharmaceuticals during the first quarter valued at approximately $71,038,000. Price T Rowe Associates Inc. MD grew its holdings in Rhythm Pharmaceuticals by 75.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,199,053 shares of the company's stock valued at $63,515,000 after purchasing an additional 513,901 shares during the last quarter. Finally, Checkpoint Capital L.P. grew its holdings in Rhythm Pharmaceuticals by 24.6% during the first quarter. Checkpoint Capital L.P. now owns 907,240 shares of the company's stock valued at $48,057,000 after purchasing an additional 179,258 shares during the last quarter.

Rhythm Pharmaceuticals Trading Down 2.5%

Shares of Rhythm Pharmaceuticals stock traded down $2.48 during trading on Friday, reaching $96.06. The company's stock had a trading volume of 1,378,477 shares, compared to its average volume of 561,497. The stock has a 50-day moving average price of $95.12 and a two-hundred day moving average price of $72.49. Rhythm Pharmaceuticals, Inc. has a one year low of $45.90 and a one year high of $106.52. The stock has a market capitalization of $6.38 billion, a P/E ratio of -31.91 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) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.09). The firm 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 business's revenue for the quarter was up 66.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.55) earnings per share. As a group, sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Leerink Partners initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, July 7th. They issued an "outperform" rating and a $88.00 price objective on the stock. Canaccord Genuity Group raised their price objective on shares of Rhythm Pharmaceuticals from $92.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Oppenheimer raised their price objective on shares of Rhythm Pharmaceuticals from $76.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Finally, Leerink Partnrs upgraded shares of Rhythm Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $101.57.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 4,188 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $100.07, for a total transaction of $419,093.16. Following the completion of the sale, the insider directly owned 8,509 shares of the company's stock, valued at approximately $851,495.63. The trade was a 32.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Hunter C. Smith sold 3,477 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $96.00, for a total value of $333,792.00. Following the completion of the sale, the chief financial officer directly owned 116,915 shares of the company's stock, valued at approximately $11,223,840. This trade represents a 2.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,077 shares of company stock valued at $9,360,077. 6.10% of the stock is owned by company insiders.

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.