Perceptive Advisors LLC Has $206.45 Million Stock Position in Rhythm Pharmaceuticals, Inc. $RYTM

Perceptive Advisors LLC decreased its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,373,795 shares of the company’s stock after selling 172,596 shares during the quarter. Rhythm Pharmaceuticals accounts for approximately 4.0% of Perceptive Advisors LLC’s holdings, making the stock its 6th largest holding. Perceptive Advisors LLC owned 3.46% of Rhythm Pharmaceuticals worth $206,449,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RYTM. RA Capital Management L.P. grew its holdings in shares of Rhythm Pharmaceuticals by 17.3% during the fourth quarter. RA Capital Management L.P. now owns 6,666,837 shares of the company’s stock worth $713,618,000 after buying an additional 985,478 shares in the last quarter. Vanguard Group Inc. lifted its stake in Rhythm Pharmaceuticals by 24.3% in the 4th quarter. Vanguard Group Inc. now owns 6,210,916 shares of the company’s stock valued at $664,816,000 after acquiring an additional 1,214,489 shares in the last quarter. State Street Corp boosted its position in Rhythm Pharmaceuticals by 8.4% during the 4th quarter. State Street Corp now owns 2,198,615 shares of the company’s stock worth $235,340,000 after acquiring an additional 169,964 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Rhythm Pharmaceuticals by 11.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,560,847 shares of the company’s stock worth $167,074,000 after acquiring an additional 160,950 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Rhythm Pharmaceuticals by 19.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,423,989 shares of the company’s stock worth $152,424,000 after acquiring an additional 235,920 shares during the last quarter.

Wall Street Analysts Forecast Growth

RYTM has been the topic of a number of recent research reports. Stifel Nicolaus set a $133.00 price objective on shares of Rhythm Pharmaceuticals in a report on Monday, June 15th. Citigroup restated a “market outperform” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 3rd. TD Cowen reaffirmed a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 17th. Wells Fargo & Company raised their target price on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Finally, Royal Bank Of Canada lifted their price target on shares of Rhythm Pharmaceuticals from $137.00 to $141.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Fifteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.73.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, Director Lynn A. Tetrault sold 37,000 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the sale, the director directly owned 7,000 shares of the company’s stock, valued at approximately $702,240. This represents a 84.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.90% of the company’s stock.

Rhythm Pharmaceuticals Stock Down 6.1%

NASDAQ:RYTM opened at $99.25 on Friday. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of -31.71 and a beta of 1.88. Rhythm Pharmaceuticals, Inc. has a twelve month low of $74.50 and a twelve month high of $122.20. The stock’s 50 day moving average price is $100.57 and its two-hundred day moving average price is $95.97.

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. The company had revenue of $60.11 million for the quarter, compared to analysts’ expectations of $55.78 million. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The business’s revenue was up 83.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.81) EPS. As a group, analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -3.08 earnings per share for the current 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.