Inceptionr LLC Invests $756,000 in Rhythm Pharmaceuticals, Inc. $RYTM

Inceptionr LLC acquired a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,482 shares of the company’s stock, valued at approximately $756,000.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in Rhythm Pharmaceuticals by 97.2% in the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock worth $29,000 after purchasing an additional 141 shares during the period. Farther Finance Advisors LLC boosted its stake in Rhythm Pharmaceuticals by 1,110.3% during the third quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock worth $35,000 after buying an additional 322 shares in the last quarter. Optiver Holding B.V. increased its holdings in Rhythm Pharmaceuticals by 65.2% in the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock valued at $37,000 after buying an additional 144 shares during the period. Osaic Holdings Inc. increased its holdings in Rhythm Pharmaceuticals by 65.9% in the 2nd quarter. Osaic Holdings Inc. now owns 979 shares of the company’s stock valued at $62,000 after buying an additional 389 shares during the period. Finally, State of Wyoming acquired a new position in shares of Rhythm Pharmaceuticals in the 2nd quarter valued at $67,000.

Insider Transactions at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 3,350 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $111.00, for a total value of $371,850.00. Following the completion of the sale, the insider directly owned 20,814 shares in the company, valued at approximately $2,310,354. This trade represents a 13.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Hunter C. Smith sold 4,385 shares of Rhythm Pharmaceuticals stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $101.26, for a total value of $444,025.10. Following the completion of the transaction, the chief financial officer directly owned 110,512 shares of the company’s stock, valued at $11,190,445.12. This represents a 3.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 30,617 shares of company stock worth $3,091,805. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. TD Cowen reaffirmed a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Thursday, December 11th. Guggenheim upped their target price on shares of Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Wells Fargo & Company cut their price target on shares of Rhythm Pharmaceuticals from $145.00 to $136.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Citizens Jmp lifted their price objective on Rhythm Pharmaceuticals from $167.00 to $176.00 and gave the company a “market outperform” rating in a report on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.07.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM opened at $93.00 on Tuesday. The company has a market capitalization of $6.35 billion, a P/E ratio of -29.90 and a beta of 2.06. Rhythm Pharmaceuticals, Inc. has a one year low of $45.90 and a one year high of $122.20. The business’s 50 day simple moving average is $101.52 and its 200-day simple moving average is $103.32.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.06. Rhythm Pharmaceuticals had a negative return on equity of 266.56% and a negative net margin of 103.57%.The firm had revenue of $57.25 million during the quarter, compared to analysts’ expectations of $56.16 million. During the same period last year, the firm posted ($0.72) EPS. The business’s revenue was up 36.9% on a year-over-year basis. On average, sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current fiscal year.

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.