UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $57.16 Million Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 4.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 514,850 shares of the company’s stock after selling 26,600 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.75% of Rhythm Pharmaceuticals worth $57,164,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in Rhythm Pharmaceuticals by 148.2% in the 1st quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock valued at $2,085,000 after buying an additional 23,506 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Rhythm Pharmaceuticals by 6.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,282 shares of the company’s stock worth $1,874,000 after acquiring an additional 2,126 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Rhythm Pharmaceuticals by 62.9% during the second quarter. Prudential Financial Inc. now owns 7,095 shares of the company’s stock valued at $423,000 after purchasing an additional 2,740 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in Rhythm Pharmaceuticals by 11.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 240,345 shares of the company’s stock valued at $15,187,000 after buying an additional 24,152 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Rhythm Pharmaceuticals by 10.0% in the second quarter. Sei Investments Co. now owns 33,145 shares of the company’s stock valued at $2,095,000 after acquiring an additional 3,004 shares during the last quarter.

Insider Activity

In other news, EVP Yann Mazabraud sold 57,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $116.15, for a total transaction of $6,620,550.00. Following the transaction, the executive vice president directly owned 55,655 shares of the company’s stock, valued at approximately $6,464,328.25. This trade represents a 50.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alastair Garfield sold 7,763 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $117.57, for a total value of $912,695.91. Following the sale, the insider directly owned 2,295 shares in the company, valued at $269,823.15. This represents a 77.18% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 245,450 shares of company stock worth $27,374,837. Insiders own 5.90% of the company’s stock.

Rhythm Pharmaceuticals Stock Performance

Shares of RYTM stock opened at $105.42 on Thursday. Rhythm Pharmaceuticals, Inc. has a 52 week low of $74.50 and a 52 week high of $122.20. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of -33.90 and a beta of 1.97. The company has a 50-day simple moving average of $109.80 and a 200 day simple moving average of $97.03.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.08. Rhythm Pharmaceuticals had a negative return on equity of 159.87% and a negative net margin of 85.59%.The company had revenue of $71.25 million for the quarter, compared to analyst estimates of $67.66 million. During the same quarter last year, the company earned ($0.75) earnings per share. The firm’s quarterly revenue was up 46.9% compared to the same quarter last year. Sell-side analysts forecast that Rhythm Pharmaceuticals, Inc. will post -2.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Citizens Jmp raised their price objective on shares of Rhythm Pharmaceuticals from $155.00 to $160.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 5th. TD Cowen reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, June 17th. Stifel Nicolaus set a $133.00 target price on shares of Rhythm Pharmaceuticals in a research note on Monday, June 15th. JPMorgan Chase & Co. upped their price target on Rhythm Pharmaceuticals from $145.00 to $146.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, National Bank Financial set a $160.00 price objective on Rhythm Pharmaceuticals in a report on Wednesday, August 5th. Fifteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $141.12.

Rhythm Pharmaceuticals 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.