Nan Fung Group Holdings Ltd Invests $5.45 Million in Rhythm Pharmaceuticals, Inc. $RYTM

Nan Fung Group Holdings Ltd bought a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 49,120 shares of the company’s stock, valued at approximately $5,453,794. Rhythm Pharmaceuticals makes up approximately 0.0% of Nan Fung Group Holdings Ltd’s holdings, making the stock its 6th largest holding. Nan Fung Group Holdings Ltd owned approximately 0.07% of Rhythm Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the business. AQR Capital Management LLC grew its position in shares of Rhythm Pharmaceuticals by 148.2% in the 1st quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock valued at $2,085,000 after buying an additional 23,506 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Rhythm Pharmaceuticals by 6.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,282 shares of the company’s stock valued at $1,874,000 after buying an additional 2,126 shares during the period. Prudential Financial Inc. grew its stake in Rhythm Pharmaceuticals by 62.9% in the 2nd quarter. Prudential Financial Inc. now owns 7,095 shares of the company’s stock valued at $423,000 after buying an additional 2,740 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Rhythm Pharmaceuticals by 11.2% during the second quarter. Qube Research & Technologies Ltd now owns 240,345 shares of the company’s stock worth $15,187,000 after buying an additional 24,152 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Rhythm Pharmaceuticals by 10.0% during the 2nd quarter. Sei Investments Co. now owns 33,145 shares of the company’s stock worth $2,095,000 after buying an additional 3,004 shares during the period.

Insider Activity

In other news, insider Joseph Shulman sold 5,079 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $119.75, for a total transaction of $608,210.25. Following the completion of the sale, the insider owned 15,915 shares of the company’s stock, valued at approximately $1,905,821.25. The trade was a 24.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Yann Mazabraud sold 57,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $116.15, for a total transaction of $6,620,550.00. Following the completion of the transaction, the executive vice president owned 55,655 shares of the company’s stock, valued at approximately $6,464,328.25. This trade represents a 50.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 182,676 shares of company stock worth $20,754,691. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RYTM has been the subject of a number of research reports. Wall Street Zen raised shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Wells Fargo & Company increased their price objective on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, June 15th. National Bank Financial set a $160.00 price target on Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Rhythm Pharmaceuticals in a report on Friday. They issued a “hold” rating and a $120.00 price objective for the company. Finally, Royal Bank Of Canada increased their target price on shares of Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Fifteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $141.12.

Rhythm Pharmaceuticals Price Performance

RYTM traded down $4.53 during mid-day trading on Friday, hitting $108.00. The stock had a trading volume of 205,225 shares, compared to its average volume of 768,121. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of -34.73 and a beta of 1.92. Rhythm Pharmaceuticals, Inc. has a 1-year low of $74.50 and a 1-year high of $122.20. The stock’s fifty day simple moving average is $109.57 and its 200-day simple moving average is $96.88.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.08. The business had revenue of $71.25 million during the quarter, compared to analysts’ expectations of $67.66 million. Rhythm Pharmaceuticals had a negative return on equity of 159.87% and a negative net margin of 85.59%.The business’s revenue for the quarter was up 46.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.75) EPS. As a group, research analysts expect that Rhythm Pharmaceuticals, Inc. will post -2.82 earnings per share for the current fiscal year.

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.