Savant Capital LLC Buys New Shares in Rhythm Pharmaceuticals, Inc. $RYTM

Savant Capital LLC purchased a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,382 shares of the company’s stock, valued at approximately $277,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RYTM. Westfield Capital Management Co. LP bought a new position in shares of Rhythm Pharmaceuticals during the 1st quarter valued at about $71,038,000. Price T Rowe Associates Inc. MD boosted its stake in Rhythm Pharmaceuticals by 75.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,199,053 shares of the company’s stock worth $63,515,000 after buying an additional 513,901 shares in the last quarter. Siren L.L.C. bought a new position in Rhythm Pharmaceuticals during the first quarter valued at approximately $14,701,000. Comerica Bank raised its stake in shares of Rhythm Pharmaceuticals by 1,330.2% during the first quarter. Comerica Bank now owns 244,754 shares of the company’s stock worth $12,965,000 after acquiring an additional 227,641 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Rhythm Pharmaceuticals by 972.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 237,998 shares of the company’s stock worth $15,039,000 after acquiring an additional 215,806 shares during the last quarter.

Rhythm Pharmaceuticals Trading Down 0.2%

Rhythm Pharmaceuticals stock opened at $100.51 on Wednesday. Rhythm Pharmaceuticals, Inc. has a 1-year low of $45.90 and a 1-year high of $116.00. The firm has a market cap of $6.71 billion, a P/E ratio of -33.39 and a beta of 2.12. The firm has a 50-day moving average of $102.50 and a 200-day moving average of $86.77.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). The business had revenue of $51.30 million for the quarter, compared to the consensus estimate of $50.71 million. Rhythm Pharmaceuticals had a negative net margin of 117.13% and a negative return on equity of 1,831.43%. Research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Joseph Shulman sold 9,748 shares of Rhythm Pharmaceuticals stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $115.24, for a total value of $1,123,359.52. Following the sale, the insider owned 8,509 shares in the company, valued at $980,577.16. The trade was a 53.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 31,188 shares of company stock valued at $3,483,583 over the last ninety days. Company insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. JMP Securities lifted their target price on shares of Rhythm Pharmaceuticals from $135.00 to $142.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 25th. Wall Street Zen cut Rhythm Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Canaccord Genuity Group boosted their target price on Rhythm Pharmaceuticals from $105.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Morgan Stanley increased their target price on Rhythm Pharmaceuticals from $122.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, HC Wainwright lifted their price target on Rhythm Pharmaceuticals from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.23.

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.