Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) is Frazier Life Sciences Management L.P.’s 6th Largest Position

Frazier Life Sciences Management L.P. boosted its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 8.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,371,304 shares of the company’s stock after acquiring an additional 181,125 shares during the quarter. Rhythm Pharmaceuticals accounts for 4.6% of Frazier Life Sciences Management L.P.’s holdings, making the stock its 6th largest position. Frazier Life Sciences Management L.P. owned approximately 3.88% of Rhythm Pharmaceuticals worth $97,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of RYTM. Perceptive Advisors LLC raised its position in Rhythm Pharmaceuticals by 465.6% during the fourth quarter. Perceptive Advisors LLC now owns 2,154,110 shares of the company’s stock valued at $99,024,000 after acquiring an additional 1,773,282 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Rhythm Pharmaceuticals by 381.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 730,643 shares of the company’s stock valued at $31,659,000 after acquiring an additional 578,800 shares in the last quarter. Driehaus Capital Management LLC raised its position in Rhythm Pharmaceuticals by 38.2% during the second quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company’s stock valued at $48,548,000 after acquiring an additional 326,865 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Rhythm Pharmaceuticals by 116.1% during the first quarter. Canada Pension Plan Investment Board now owns 577,000 shares of the company’s stock valued at $25,001,000 after acquiring an additional 310,000 shares in the last quarter. Finally, Candriam S.C.A. purchased a new stake in shares of Rhythm Pharmaceuticals in the second quarter valued at approximately $11,143,000.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 10,468 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $53.00, for a total transaction of $554,804.00. Following the transaction, the insider now owns 30 shares of the company’s stock, valued at $1,590. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 49,006 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $45.15, for a total transaction of $2,212,620.90. Following the transaction, the insider now owns 13,500 shares of the company’s stock, valued at $609,525. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph Shulman sold 10,468 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $53.00, for a total value of $554,804.00. Following the transaction, the insider now directly owns 30 shares in the company, valued at approximately $1,590. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,033 shares of company stock valued at $6,214,392. Insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. JMP Securities assumed coverage on Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price objective for the company. Finally, HC Wainwright assumed coverage on Rhythm Pharmaceuticals in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.00 price objective for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.88.

Rhythm Pharmaceuticals Price Performance

Shares of NASDAQ:RYTM opened at $51.35 on Friday. The business’s 50 day moving average price is $48.14 and its 200-day moving average price is $43.50. The firm has a market capitalization of $3.14 billion, a PE ratio of -11.09 and a beta of 2.07. Rhythm Pharmaceuticals, Inc. has a 1 year low of $20.97 and a 1 year high of $55.64.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.16. The firm had revenue of $29.08 million for the quarter, compared to analyst estimates of $28.79 million. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The business’s revenue was up 51.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.82) earnings per share. As a group, analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.43 earnings per share for the current year.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.