NEXTBio Capital Management LP Buys New Stake in Rhythm Pharmaceuticals, Inc. $RYTM

NEXTBio Capital Management LP bought a new stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 67,586 shares of the company’s stock, valued at approximately $7,234,000. Rhythm Pharmaceuticals comprises about 4.2% of NEXTBio Capital Management LP’s investment portfolio, making the stock its 9th biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in Rhythm Pharmaceuticals by 303.0% during the fourth 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. Smartleaf Asset Management LLC increased its stake in Rhythm Pharmaceuticals by 97.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after purchasing an additional 141 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Rhythm Pharmaceuticals by 73.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 145 shares in the last quarter. GAMMA Investing LLC increased its stake in Rhythm Pharmaceuticals by 48.6% during the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after purchasing an additional 118 shares in the last quarter. Finally, Optiver Holding B.V. increased its stake in Rhythm Pharmaceuticals by 65.2% during the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock valued at $37,000 after purchasing an additional 144 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RYTM. Morgan Stanley cut their price target on shares of Rhythm Pharmaceuticals from $150.00 to $136.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. Guggenheim upped their price target 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. Jefferies Financial Group restated a “buy” rating and set a $125.00 price target on shares of Rhythm Pharmaceuticals in a research note on Tuesday, March 3rd. Wall Street Zen upgraded shares of Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Needham & Company LLC cut their price target on shares of Rhythm Pharmaceuticals from $139.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.81.

Rhythm Pharmaceuticals Price Performance

NASDAQ:RYTM opened at $88.38 on Friday. The firm has a market capitalization of $6.06 billion, a P/E ratio of -28.24 and a beta of 1.91. Rhythm Pharmaceuticals, Inc. has a 1-year low of $60.70 and a 1-year high of $122.20. The company’s fifty day moving average price is $87.96 and its 200-day moving average price is $96.33.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.03. The firm had revenue of $60.11 million for the quarter, compared to analyst estimates of $55.78 million. Rhythm Pharmaceuticals had a negative net margin of 93.33% and a negative return on equity of 203.25%. The business’s quarterly revenue was up 83.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.81) earnings per share. Equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -3.07 EPS for the current fiscal year.

Rhythm Pharmaceuticals Company 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.