WCM Investment Management LLC Makes New Investment in Rhythm Pharmaceuticals, Inc. $RYTM

WCM Investment Management LLC purchased a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 47,733 shares of the company’s stock, valued at approximately $4,804,000. WCM Investment Management LLC owned approximately 0.07% of Rhythm Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of RYTM. Farther Finance Advisors LLC raised its position in shares of Rhythm Pharmaceuticals by 1,110.3% during the third quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock valued at $35,000 after buying an additional 322 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 65.9% during the 2nd quarter. Osaic Holdings Inc. now owns 979 shares of the company’s stock worth $62,000 after purchasing an additional 389 shares during the period. State of Wyoming bought a new position in Rhythm Pharmaceuticals during the 2nd quarter valued at about $67,000. Bayforest Capital Ltd boosted its position in shares of Rhythm Pharmaceuticals by 909.5% during the third quarter. Bayforest Capital Ltd now owns 1,171 shares of the company’s stock valued at $118,000 after buying an additional 1,055 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Rhythm Pharmaceuticals by 16.2% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,458 shares of the company’s stock worth $155,000 after buying an additional 342 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 price target on shares of Rhythm Pharmaceuticals in a report on Thursday, December 11th. Zacks Research downgraded Rhythm Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. HC Wainwright raised their price objective on Rhythm Pharmaceuticals from $123.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. TD Cowen reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, December 11th. Finally, Wells Fargo & Company raised their target price on shares of Rhythm Pharmaceuticals from $129.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.29.

Rhythm Pharmaceuticals Stock Down 0.6%

Shares of RYTM opened at $108.29 on Wednesday. Rhythm Pharmaceuticals, Inc. has a 52-week low of $45.90 and a 52-week high of $122.20. The stock has a 50 day moving average price of $106.76 and a 200 day moving average price of $102.20. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of -34.93 and a beta of 2.00.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.10). The business had revenue of $51.30 million during the quarter, compared to analyst estimates of $50.71 million. Rhythm Pharmaceuticals had a negative net margin of 110.32% and a negative return on equity of 433.21%. On average, equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 3,350 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $111.00, for a total transaction of $371,850.00. Following the sale, the insider directly owned 20,814 shares of the company’s stock, valued at $2,310,354. This trade represents a 13.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is owned by company insiders.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.