Rhythm Pharmaceuticals, Inc. $RYTM Shares Sold by Janus Henderson Group PLC

Key Points

• Janus Henderson Group reduced its Rhythm Pharmaceuticals stake by 18.5% in the first quarter, selling 207,972 shares and retaining 918,153 shares valued at approximately $79.9 million.
• Rhythm Pharmaceuticals reported a quarterly loss of $0.83 per share, beating estimates by $0.03, while revenue rose 83.8% year over year to $60.11 million. The stock opened at $99.25, with a market capitalization of about $6.8 billion.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $138.73, although one research firm maintained a sell rating. A company director also sold 37,000 shares worth approximately $3.7 million under a Rule 10b5-1 plan.

Janus Henderson Group PLC lessened its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 18.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 918,153 shares of the company's stock after selling 207,972 shares during the quarter. Janus Henderson Group PLC owned approximately 1.34% of Rhythm Pharmaceuticals worth $79,886,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in Rhythm Pharmaceuticals by 303.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company's stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Rhythm Pharmaceuticals by 73.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company's stock worth $37,000 after buying an additional 145 shares in the last quarter. Smartleaf Asset Management LLC grew 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 buying an additional 113 shares in the last quarter. Covestor Ltd raised its position in shares of Rhythm Pharmaceuticals by 328.9% in the fourth quarter. Covestor Ltd now owns 579 shares of the company's stock valued at $62,000 after buying an additional 444 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Rhythm Pharmaceuticals by 82.9% in the fourth quarter. Farther Finance Advisors LLC now owns 642 shares of the company's stock valued at $69,000 after buying an additional 291 shares during the last quarter.

Rhythm Pharmaceuticals Stock Down 6.1%

Shares of RYTM stock opened at $99.25 on Friday. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $74.50 and a fifty-two week high of $122.20. The firm's 50 day moving average price is $100.57 and its two-hundred day moving average price is $95.97. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of -31.71 and a beta of 1.88.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The business had revenue of $60.11 million for the quarter, compared to analyst estimates of $55.78 million. During the same quarter in the previous year, the business posted ($0.81) EPS. The business's quarterly revenue was up 83.8% on a year-over-year basis. On average, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -3.08 EPS for the current fiscal year.

Insider Transactions at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 37,000 shares of the firm's 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 transaction, the director directly owned 7,000 shares of the company's stock, valued at $702,240. This trade represents a 84.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 5.90% of the company's stock.

Analyst Upgrades and Downgrades

RYTM has been the topic of several recent analyst reports. TD Cowen reissued a "buy" rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Stifel Nicolaus set a $133.00 price target on Rhythm Pharmaceuticals in a report on Monday, June 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Rhythm Pharmaceuticals in a research note on Friday, July 17th. Wall Street Zen raised Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 3rd. Fifteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $138.73.

Rhythm Pharmaceuticals Company 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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