Deutsche Bank AG Sells 4,966 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Deutsche Bank AG has reduced its holdings in Rhythm Pharmaceuticals by 10.2%, selling 4,966 shares and holding 43,779 shares worth approximately $2.32 million as of the latest SEC filing.
• Rhythm Pharmaceuticals reported a loss of $0.75 per share in its latest quarterly earnings, below analyst expectations, but its revenue rose by 66.8% year-over-year to $48.5 million.
• The stock's average target price from analysts is currently $101.57, with 14 analysts rating it as a Buy and one as a Strong Buy.

Deutsche Bank AG reduced its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 10.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 43,779 shares of the company's stock after selling 4,966 shares during the quarter. Deutsche Bank AG owned 0.07% of Rhythm Pharmaceuticals worth $2,319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its holdings in shares of Rhythm Pharmaceuticals by 1.0% in the 1st quarter. Victory Capital Management Inc. now owns 17,326 shares of the company's stock worth $918,000 after buying an additional 174 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Rhythm Pharmaceuticals by 4.7% in the 1st quarter. Xponance Inc. now owns 4,365 shares of the company's stock worth $231,000 after buying an additional 197 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Rhythm Pharmaceuticals by 0.7% in the 1st 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 during the last quarter. GF Fund Management CO. LTD. boosted its holdings in shares of Rhythm Pharmaceuticals by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,573 shares of the company's stock worth $83,000 after buying an additional 283 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Rhythm Pharmaceuticals by 2.3% in the 4th quarter. Two Sigma Advisers LP now owns 13,100 shares of the company's stock worth $733,000 after buying an additional 300 shares during the last quarter.

Insider Buying and Selling

In other news, insider Pamela J. Cramer sold 1,520 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $85.93, for a total transaction of $130,613.60. Following the sale, the insider directly owned 20,814 shares in the company, valued at $1,788,547.02. This represents a 6.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Christopher Paul German sold 1,500 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $95.00, for a total value of $142,500.00. Following the sale, the chief accounting officer owned 922 shares in the company, valued at approximately $87,590. This represents a 61.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,177 shares of company stock valued at $9,977,553. Corporate insiders own 6.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RYTM. JMP Securities boosted their price target on shares of Rhythm Pharmaceuticals from $130.00 to $135.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Oppenheimer boosted their price objective on Rhythm Pharmaceuticals from $76.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Leerink Partners initiated coverage on Rhythm Pharmaceuticals in a research note on Monday, July 7th. They issued an "outperform" rating and a $88.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Needham & Company LLC restated a "buy" rating and issued a $95.00 price objective (up from $72.00) on shares of Rhythm Pharmaceuticals in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $101.57.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM traded up $2.00 during midday trading on Tuesday, hitting $101.20. 643,634 shares of the company traded hands, compared to its average volume of 581,703. The stock has a 50-day moving average of $83.46 and a 200-day moving average of $67.04. Rhythm Pharmaceuticals, Inc. has a one year low of $45.00 and a one year high of $104.87. The firm has a market cap of $6.72 billion, a P/E ratio of -33.62 and a beta of 2.38.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last announced its quarterly earnings results 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). Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%. The company had revenue of $48.50 million for the quarter, compared to the consensus estimate of $43.72 million. During the same quarter in the prior year, the company earned ($0.55) earnings per share. The company's quarterly revenue was up 66.8% on a year-over-year basis. Sell-side analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal 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.