Integral Health Asset Management LLC Increases Stock Position in Rhythm Pharmaceuticals, Inc. $RYTM

Integral Health Asset Management LLC grew its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 83.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,000 shares of the company’s stock after purchasing an additional 100,000 shares during the period. Rhythm Pharmaceuticals comprises about 1.5% of Integral Health Asset Management LLC’s investment portfolio, making the stock its 17th biggest holding. Integral Health Asset Management LLC owned 0.33% of Rhythm Pharmaceuticals worth $22,218,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 148.2% during the first quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock valued at $2,085,000 after purchasing an additional 23,506 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 last quarter. Bank of New York Mellon Corp increased its holdings in Rhythm Pharmaceuticals by 25.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 184,109 shares of the company’s stock worth $11,634,000 after buying an additional 37,524 shares in the last quarter. Savant Capital LLC bought a new stake in Rhythm Pharmaceuticals in the 2nd quarter worth about $277,000. Finally, Los Angeles Capital Management LLC purchased a new position in Rhythm Pharmaceuticals in the 2nd quarter worth about $245,000.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, CFO Hunter C. Smith sold 4,385 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $101.26, for a total transaction of $444,025.10. Following the completion of the sale, the chief financial officer directly owned 110,512 shares of the company’s stock, valued at approximately $11,190,445.12. This represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christopher Paul German sold 5,614 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $89.56, for a total transaction of $502,789.84. Following the completion of the transaction, the chief accounting officer owned 160 shares in the company, valued at $14,329.60. The trade was a 97.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,267 shares of company stock valued at $2,719,955 over the last 90 days. 6.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on RYTM. Citizens Jmp upped their target price on shares of Rhythm Pharmaceuticals from $167.00 to $176.00 and gave the company a “market outperform” rating in a research note on Friday, February 27th. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 price target on shares of Rhythm Pharmaceuticals in a research note on Thursday, December 11th. Royal Bank Of Canada initiated coverage on shares of Rhythm Pharmaceuticals in a report on Wednesday, February 18th. They set an “outperform” rating and a $145.00 price objective for the company. UBS Group restated a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, December 17th. Finally, The Goldman Sachs Group lifted their target price on shares of Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $133.19.

Rhythm Pharmaceuticals Stock Performance

Shares of NASDAQ:RYTM opened at $87.38 on Friday. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of -28.10 and a beta of 2.06. The stock’s 50-day simple moving average is $100.23 and its two-hundred day simple moving average is $102.99. Rhythm Pharmaceuticals, Inc. has a 52-week low of $45.90 and a 52-week high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share (EPS) 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 business had revenue of $57.25 million during the quarter, compared to the consensus estimate of $56.16 million. During the same period in the previous year, the company posted ($0.72) EPS. The business’s quarterly revenue was up 36.9% compared to the same quarter last year. As a group, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Rhythm Pharmaceuticals 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.