Trexquant Investment LP Has $2.05 Million Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Key Points

• Trexquant Investment LP increased its holdings in Rhythm Pharmaceuticals by 396.6% in the first quarter, now owning 38,724 shares valued at approximately $2.05 million.
• Rhythm Pharmaceuticals reported a quarterly revenue of $48.50 million, surpassing expectations, despite posting a loss of ($0.75) earnings per share.
• Analysts have generally rated Rhythm Pharmaceuticals as a "Buy" or "Market Outperform," with price targets reaching as high as $135.00 from various firms.

Trexquant Investment LP raised its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM - Free Report) by 396.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,724 shares of the company's stock after buying an additional 30,926 shares during the period. Trexquant Investment LP owned 0.06% of Rhythm Pharmaceuticals worth $2,051,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in Rhythm Pharmaceuticals during the first quarter valued at about $34,000. State of Wyoming bought a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $61,000. GF Fund Management CO. LTD. bought a new position in shares of Rhythm Pharmaceuticals in the fourth quarter worth about $72,000. CWM LLC increased its stake in shares of Rhythm Pharmaceuticals by 92.3% in the first quarter. CWM LLC now owns 2,584 shares of the company's stock worth $137,000 after purchasing an additional 1,240 shares during the period. Finally, Bayforest Capital Ltd bought a new position in shares of Rhythm Pharmaceuticals in the first quarter worth about $166,000.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RYTM shares. Morgan Stanley reiterated an "overweight" rating and issued a $109.00 price objective (up from $100.00) on shares of Rhythm Pharmaceuticals in a research note on Tuesday, August 5th. Guggenheim lifted their price objective on Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Leerink Partnrs upgraded Rhythm Pharmaceuticals to a "strong-buy" rating in a research note on Monday, July 7th. HC Wainwright boosted their price target on Rhythm Pharmaceuticals from $80.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group boosted their price target on Rhythm Pharmaceuticals from $92.00 to $105.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $101.57.

Rhythm Pharmaceuticals Stock Performance

NASDAQ RYTM traded down $1.17 during trading on Wednesday, reaching $100.27. 520,253 shares of the company traded hands, compared to its average volume of 547,031. The stock's 50 day moving average price is $92.15 and its two-hundred day moving average price is $70.39. The company has a market cap of $6.66 billion, a price-to-earnings ratio of -33.31 and a beta of 2.23. Rhythm Pharmaceuticals, Inc. has a 1-year low of $45.90 and a 1-year high of $106.52.

Rhythm Pharmaceuticals (NASDAQ:RYTM - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.75) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.09). The company had revenue of $48.50 million for the quarter, compared to analyst estimates 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 for the quarter was up 66.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.55) earnings per share. Equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 3,477 shares of Rhythm Pharmaceuticals 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 sale, the chief financial officer directly owned 116,915 shares of the company's stock, valued at approximately $11,223,840. The trade was a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher Paul German sold 1,500 shares of Rhythm Pharmaceuticals 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 sale, the chief accounting officer directly owned 922 shares in the company, valued at $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 a total of 110,077 shares of company stock valued at $9,360,077 over the last ninety days. Company insiders own 6.10% of the company's stock.

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.