State of Wyoming Purchases Shares of 6,354 Rhythm Pharmaceuticals, Inc. $RYTM

State of Wyoming acquired a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,354 shares of the company’s stock, valued at approximately $705,000.

Several other large investors have also recently modified their holdings of RYTM. EverSource Wealth Advisors LLC lifted its stake in shares of Rhythm Pharmaceuticals by 303.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. SBI Securities Co. Ltd. grew its position in Rhythm Pharmaceuticals by 73.2% during the 4th 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 last quarter. GAMMA Investing LLC grew its position in Rhythm Pharmaceuticals by 36.3% during the 2nd quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after acquiring an additional 97 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Rhythm Pharmaceuticals by 39.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock worth $43,000 after purchasing an additional 113 shares during the period. Finally, Covestor Ltd increased its stake in Rhythm Pharmaceuticals by 328.9% in the 4th quarter. Covestor Ltd now owns 579 shares of the company’s stock worth $62,000 after purchasing an additional 444 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RYTM. Royal Bank Of Canada boosted their price objective on Rhythm Pharmaceuticals from $141.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Stifel Nicolaus set a $133.00 target price on shares of Rhythm Pharmaceuticals in a report on Monday, June 15th. Wells Fargo & Company lifted their target price on shares of Rhythm Pharmaceuticals from $144.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, June 15th. Wall Street Zen upgraded shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, National Bank Financial set a $160.00 price target on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Fifteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.44.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM opened at $115.48 on Monday. The stock’s 50-day moving average is $105.44 and its 200 day moving average is $96.40. The company has a market cap of $7.91 billion, a PE ratio of -37.13 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.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate 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 was up 46.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.75) EPS. Analysts expect that Rhythm Pharmaceuticals, Inc. will post -2.82 EPS for the current fiscal year.

Insider Activity at Rhythm Pharmaceuticals

In related news, EVP Yann Mazabraud sold 57,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $116.15, for a total value of $6,620,550.00. Following the completion of the sale, the executive vice president owned 55,655 shares of the company’s stock, valued at $6,464,328.25. This trade represents a 50.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lynn A. Tetrault sold 37,000 shares of Rhythm Pharmaceuticals 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 completion of the sale, the director owned 7,000 shares in the company, valued at approximately $702,240. This trade represents a 84.09% 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. Insiders sold a total of 169,834 shares of company stock worth $19,233,785 over the last quarter. 5.90% of the stock is owned by corporate insiders.

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.