Perceptive Advisors LLC Sells 416,558,578 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Perceptive Advisors LLC reduced its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 99.4% during the 4th quarter, HoldingsChannel reports. The firm owned 2,546,391 shares of the company’s stock after selling 416,558,578 shares during the quarter. Rhythm Pharmaceuticals comprises about 4.9% of Perceptive Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. Perceptive Advisors LLC’s holdings in Rhythm Pharmaceuticals were worth $272,566,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in shares of Rhythm Pharmaceuticals by 303.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Rhythm Pharmaceuticals by 97.2% in the third quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after purchasing an additional 141 shares during the last quarter. Optiver Holding B.V. grew its position in shares of Rhythm Pharmaceuticals by 65.2% in the third quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock valued at $37,000 after purchasing an additional 144 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Rhythm Pharmaceuticals by 73.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 145 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Rhythm Pharmaceuticals by 48.6% in the fourth quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after purchasing an additional 118 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. HC Wainwright lowered their price target on Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Bank of America lowered their price target on Rhythm Pharmaceuticals from $145.00 to $139.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Wall Street Zen raised Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research report on Tuesday, April 21st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $125.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.13.

Rhythm Pharmaceuticals Stock Up 6.8%

RYTM stock opened at $95.83 on Thursday. Rhythm Pharmaceuticals, Inc. has a twelve month low of $60.70 and a twelve month high of $122.20. The company has a market cap of $6.57 billion, a PE ratio of -30.62 and a beta of 1.91. The business’s 50-day simple moving average is $88.27 and its 200 day simple moving average is $95.91.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results 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. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The business had revenue of $60.11 million for the quarter, compared to the consensus estimate of $55.78 million. During the same period last year, the business earned ($0.81) earnings per share. The firm’s revenue for the quarter was up 83.8% compared to the same quarter last year. On average, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -3.11 EPS for the current 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.