AJOVista LLC Acquires New Shares in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

AJOVista LLC bought a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 920 shares of the company’s stock, valued at approximately $42,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RYTM. China Universal Asset Management Co. Ltd. increased its holdings in shares of Rhythm Pharmaceuticals by 95.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,458 shares of the company’s stock worth $33,000 after buying an additional 713 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Rhythm Pharmaceuticals by 253.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,260 shares of the company’s stock worth $52,000 after purchasing an additional 1,620 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Rhythm Pharmaceuticals by 91.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,256 shares of the company’s stock worth $58,000 after purchasing an additional 600 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Rhythm Pharmaceuticals in the 4th quarter worth about $92,000. Finally, Strs Ohio bought a new position in shares of Rhythm Pharmaceuticals during the 4th quarter valued at about $137,000.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 18,235 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $40.34, for a total value of $735,599.90. Following the completion of the sale, the insider now owns 30 shares in the company, valued at approximately $1,210.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO David P. Meeker sold 45,494 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $39.22, for a total value of $1,784,274.68. Following the completion of the transaction, the chief executive officer now directly owns 174,605 shares of the company’s stock, valued at $6,848,008.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph Shulman sold 18,235 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $40.34, for a total transaction of $735,599.90. Following the completion of the sale, the insider now owns 30 shares of the company’s stock, valued at $1,210.20. The disclosure for this sale can be found here. Insiders have sold 172,069 shares of company stock valued at $7,626,355 over the last ninety days. 4.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RYTM shares. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, April 26th. The Goldman Sachs Group upped their price objective on shares of Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company decreased their target price on shares of Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $47.20.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock opened at $43.80 on Monday. Rhythm Pharmaceuticals, Inc. has a 52-week low of $15.50 and a 52-week high of $52.57. The company’s 50 day moving average price is $40.97 and its 200-day moving average price is $39.59.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.70) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.70). The business had revenue of $24.23 million for the quarter, compared to analyst estimates of $25.38 million. Rhythm Pharmaceuticals had a negative net margin of 238.50% and a negative return on equity of 96.02%. The company’s revenue was up 175.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.75) EPS. Sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.02 earnings per share for the current fiscal year.

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.