Rhythm Pharmaceuticals, Inc. $RYTM Stake Lifted by Charles Schwab Investment Management Inc.

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. increased its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 445,429 shares of the company's stock after acquiring an additional 5,179 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.70% of Rhythm Pharmaceuticals worth $23,594,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $95.00, for a total value of $142,500.00. Following the completion of the sale, the chief accounting officer owned 922 shares in the company, valued at $87,590. This represents a 61.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Hunter C. Smith sold 3,477 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $96.00, for a total transaction of $333,792.00. Following the completion of the sale, the chief financial officer owned 116,915 shares of the company's stock, valued at approximately $11,223,840. The trade was a 2.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,989 shares of company stock worth $9,558,460. Insiders own 6.10% of the company's stock.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM opened at $98.70 on Thursday. The company has a market cap of $6.56 billion, a PE ratio of -32.79 and a beta of 2.38. Rhythm Pharmaceuticals, Inc. has a 52 week low of $43.57 and a 52 week high of $99.04. The firm has a 50 day simple moving average of $80.36 and a 200 day simple moving average of $65.85.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.09). The firm had revenue of $48.50 million during the quarter, compared to analysts' expectations 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 firm's revenue was up 66.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.55) EPS. On average, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on RYTM. Leerink Partners began coverage on shares of Rhythm Pharmaceuticals in a report on Monday, July 7th. They set an "outperform" rating and a $88.00 target price for the company. Wells Fargo & Company raised their target price on shares of Rhythm Pharmaceuticals from $91.00 to $129.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. The Goldman Sachs Group began coverage on shares of Rhythm Pharmaceuticals in a report on Thursday, July 10th. They set a "buy" rating and a $97.00 target price for the company. Wall Street Zen upgraded shares of Rhythm Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Bank of America raised their target price on shares of Rhythm Pharmaceuticals from $73.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $101.57.

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.

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