146,303 Shares in Rhythm Pharmaceuticals, Inc. $RYTM Purchased by First Turn Management LLC

First Turn Management LLC purchased a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 146,303 shares of the company’s stock, valued at approximately $15,660,000. Rhythm Pharmaceuticals accounts for about 1.8% of First Turn Management LLC’s portfolio, making the stock its 27th biggest holding.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in Rhythm Pharmaceuticals by 303.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares during the period. Smartleaf Asset Management LLC increased its position in Rhythm Pharmaceuticals by 97.2% during the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after acquiring an additional 141 shares during the period. SBI Securities Co. Ltd. increased its position in Rhythm Pharmaceuticals by 73.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 145 shares during the period. GAMMA Investing LLC increased its position in Rhythm Pharmaceuticals by 48.6% during the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock worth $39,000 after acquiring an additional 118 shares during the period. Finally, Optiver Holding B.V. increased its position in Rhythm Pharmaceuticals by 65.2% during the third quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock worth $37,000 after acquiring an additional 144 shares during the period.

Rhythm Pharmaceuticals Stock Up 0.8%

Shares of Rhythm Pharmaceuticals stock opened at $88.38 on Friday. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of -28.24 and a beta of 1.91. Rhythm Pharmaceuticals, Inc. has a 12-month low of $60.70 and a 12-month high of $122.20. The firm’s 50-day moving average price is $87.96 and its two-hundred day moving average price is $96.33.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.03. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The firm had revenue of $60.11 million for the quarter, compared to the consensus estimate of $55.78 million. During the same period in the prior year, the company posted ($0.81) earnings per share. The business’s revenue for the quarter was up 83.8% on a year-over-year basis. On average, sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -3.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

RYTM has been the topic of a number of analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $125.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, March 3rd. Needham & Company LLC reduced their price objective on shares of Rhythm Pharmaceuticals from $139.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. HC Wainwright reduced their price objective on shares of Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Zacks Research upgraded shares of Rhythm Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Stifel Nicolaus set a $131.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.81.

Rhythm Pharmaceuticals Company Profile

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.