Charles Schwab Investment Management Inc. Increases Position in Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Rhythm Pharmaceuticals, Inc. by 1.2% to own approximately 0.70% of the company, valued at $23.6 million.
• Several institutional investors significantly boosted their holdings in Rhythm Pharmaceuticals, with Westfield Capital Management investing $71 million and Janus Henderson Group increasing its stake by 103.9%.
• The company reported earnings of ($0.75) EPS for the last quarter, missing estimates but showing a revenue increase of 66.8% year-over-year, reaching $48.5 million.

Charles Schwab Investment Management Inc. raised its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 445,429 shares of the company's stock after purchasing an additional 5,179 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.70% of Rhythm Pharmaceuticals worth $23,594,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of RYTM. Westfield Capital Management Co. LP acquired a new position in Rhythm Pharmaceuticals in the 1st quarter valued at about $71,038,000. Janus Henderson Group PLC boosted its holdings in Rhythm Pharmaceuticals by 103.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,219,554 shares of the company's stock valued at $68,309,000 after purchasing an additional 621,432 shares during the last quarter. Stempoint Capital LP boosted its holdings in Rhythm Pharmaceuticals by 404.1% in the 4th quarter. Stempoint Capital LP now owns 208,016 shares of the company's stock valued at $11,645,000 after purchasing an additional 166,748 shares during the last quarter. Integral Health Asset Management LLC acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $8,397,000. Finally, Balyasny Asset Management L.P. acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $7,746,000.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 4,188 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $100.07, for a total transaction of $419,093.16. Following the sale, the insider directly owned 8,509 shares of the company's stock, valued at $851,495.63. This represents a 32.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher Paul German sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $95.00, for a total transaction of $142,500.00. Following the sale, the chief accounting officer directly owned 922 shares in the company, valued at approximately $87,590. The trade was a 61.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,177 shares of company stock valued at $9,977,553 in the last 90 days. Corporate insiders own 6.10% of the company's stock.

Rhythm Pharmaceuticals Trading Up 2.0%

RYTM traded up $2.00 during trading hours on Tuesday, hitting $101.20. 643,634 shares of the company's stock were exchanged, compared to its average volume of 581,703. Rhythm Pharmaceuticals, Inc. has a 12-month low of $45.00 and a 12-month high of $104.87. The firm has a 50 day moving average of $83.46 and a 200 day moving average of $67.04. 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 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 return on equity of 1,831.43% and a negative net margin of 117.13%.The business had revenue of $48.50 million for the quarter, compared to analysts' expectations of $43.72 million. During the same period in the previous year, the company earned ($0.55) earnings per share. Rhythm Pharmaceuticals's quarterly revenue was up 66.8% on a year-over-year basis. As a group, research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on RYTM. Canaccord Genuity Group boosted their target price on shares of Rhythm Pharmaceuticals from $92.00 to $105.00 and gave the company a "buy" rating in a report on Friday, July 18th. Needham & Company LLC reiterated a "buy" rating and issued a $95.00 target price (up from $72.00) on shares of Rhythm Pharmaceuticals in a report on Wednesday, July 9th. Morgan Stanley reiterated an "overweight" rating and issued a $109.00 target price (up from $100.00) on shares of Rhythm Pharmaceuticals in a report on Tuesday, August 5th. Guggenheim upped their price objective on shares of Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, JMP Securities upped their price objective 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. One analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to MarketBeat, Rhythm Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $101.57.

Rhythm Pharmaceuticals 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.