Rhythm Pharmaceuticals, Inc. $RYTM Stock Sold by Aspiriant LLC

Key Points

• Aspiriant LLC cut its Rhythm Pharmaceuticals stake by 71.8% in the third quarter, selling 20,072 shares and retaining 7,888 shares worth approximately $751,000. Other institutional investors, including Assenagon Asset Management and Squarepoint Ops, increased their holdings.
• Rhythm insiders sold 258,450 shares worth approximately $28.8 million over the past 90 days, including significant sales by CEO David P. Meeker and insider Joseph Shulman under pre-arranged Rule 10b5-1 plans.
• Analyst sentiment remains positive, with 18 Buy ratings, three Holds and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $142.50. Shares recently opened at $86.17, while the company reported better-than-expected quarterly revenue and EPS.

Aspiriant LLC decreased its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 71.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,888 shares of the company's stock after selling 20,072 shares during the period. Aspiriant LLC's holdings in Rhythm Pharmaceuticals were worth $751,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Rhythm Pharmaceuticals by 94.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 363,373 shares of the company's stock valued at $34,599,000 after buying an additional 176,882 shares during the period. GAMMA Investing LLC boosted its stake in Rhythm Pharmaceuticals by 35.2% in the third quarter. GAMMA Investing LLC now owns 492 shares of the company's stock valued at $47,000 after acquiring an additional 128 shares during the period. Cim Investment Management Inc. boosted its stake in Rhythm Pharmaceuticals by 7.2% in the second quarter. Cim Investment Management Inc. now owns 3,209 shares of the company's stock valued at $356,000 after acquiring an additional 216 shares during the period. Squarepoint Ops LLC boosted its stake in Rhythm Pharmaceuticals by 60.8% in the second quarter. Squarepoint Ops LLC now owns 422,921 shares of the company's stock valued at $46,957,000 after acquiring an additional 159,953 shares during the period. Finally, Nykredit A S bought a new position in shares of Rhythm Pharmaceuticals during the second quarter valued at approximately $280,000.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 5,079 shares of Rhythm Pharmaceuticals stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $119.75, for a total value of $608,210.25. Following the transaction, the insider owned 15,915 shares of the company's stock, valued at approximately $1,905,821.25. This trade represents a 24.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David P. Meeker sold 50,000 shares of the business's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $102.67, for a total value of $5,133,500.00. Following the sale, the chief executive officer owned 239,258 shares in the company, valued at approximately $24,564,618.86. The trade was a 17.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 258,450 shares of company stock valued at $28,796,497 over the last 90 days. 5.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Rhythm Pharmaceuticals in a research report on Friday, August 28th. They set a "hold" rating and a $120.00 price target for the company. Wolfe Research began coverage on shares of Rhythm Pharmaceuticals in a research report on Thursday, September 17th. They issued an "outperform" rating on the stock. William Blair started coverage on shares of Rhythm Pharmaceuticals in a research report on Friday. They issued an "outperform" rating for the company. JPMorgan Chase & Co. dropped their price target on shares of Rhythm Pharmaceuticals from $146.00 to $145.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, Royal Bank Of Canada raised their price target on shares of Rhythm Pharmaceuticals from $155.00 to $159.00 and gave the company an "outperform" rating in a research note on Thursday, October 8th. Eighteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $142.50.

Rhythm Pharmaceuticals Trading Down 2.0%

Shares of Rhythm Pharmaceuticals stock opened at $86.17 on Friday. Rhythm Pharmaceuticals, Inc. has a 52 week low of $74.50 and a 52 week high of $122.20. The stock has a market cap of $5.91 billion, a PE ratio of -27.71 and a beta of 2.01. The company's 50-day moving average price is $101.76 and its two-hundred day moving average price is $97.88.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative net margin of 85.59% and a negative return on equity of 159.87%. The business had revenue of $71.25 million during the quarter, compared to analyst estimates of $67.66 million. During the same period in the prior year, the business earned ($0.75) earnings per share. The business's quarterly revenue was up 46.9% on a year-over-year basis. On average, equities analysts predict that Rhythm Pharmaceuticals, Inc. will post -2.75 EPS for the current fiscal year.

Rhythm Pharmaceuticals Profile

Rhythm Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines for rare genetic diseases of obesity and other disorders involving the melanocortin-4 receptor (MC4R) pathway. The company's research is centered on conditions in which genetic defects disrupt the body's regulation of appetite, hunger and energy expenditure.

Rhythm's lead product is IMCIVREE (setmelanotide), an MC4R agonist designed to restore signaling in the brain's melanocortin pathway.

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