Entropy Technologies LP Grows Stock Holdings in Rhythm Pharmaceuticals, Inc. $RYTM

Entropy Technologies LP grew its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 314.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,318 shares of the company’s stock after buying an additional 7,826 shares during the period. Entropy Technologies LP’s holdings in Rhythm Pharmaceuticals were worth $897,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RYTM. EverSource Wealth Advisors LLC raised its stake in shares of Rhythm Pharmaceuticals by 303.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 266 shares of the company’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in 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 acquiring an additional 145 shares in the last quarter. GAMMA Investing LLC boosted its stake in 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 acquiring an additional 118 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Rhythm Pharmaceuticals by 39.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 399 shares of the company’s stock valued at $43,000 after acquiring an additional 113 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Rhythm Pharmaceuticals by 328.9% in the fourth quarter. Covestor Ltd now owns 579 shares of the company’s stock worth $62,000 after purchasing an additional 444 shares during the last quarter.

Insider Transactions at Rhythm Pharmaceuticals

In related news, Director Lynn A. Tetrault sold 37,000 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $100.32, for a total value of $3,711,840.00. Following the completion of the transaction, the director owned 7,000 shares in the company, valued at $702,240. This trade represents a 84.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. began coverage on Rhythm Pharmaceuticals in a research report on Monday. They set an “overweight” rating and a $145.00 price target on the stock. Stifel Nicolaus set a $133.00 price objective on Rhythm Pharmaceuticals in a research report on Monday, June 15th. TD Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research note on Wednesday, June 17th. Royal Bank Of Canada upped their target price on Rhythm Pharmaceuticals from $137.00 to $141.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a research note on Friday, July 17th. Fifteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $138.73.

Rhythm Pharmaceuticals Trading Up 1.8%

Shares of Rhythm Pharmaceuticals stock opened at $108.04 on Wednesday. The firm’s 50 day simple moving average is $99.72 and its two-hundred day simple moving average is $95.85. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of -34.52 and a beta of 1.88. Rhythm Pharmaceuticals, Inc. has a 12-month low of $74.50 and a 12-month high of $122.20.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.03. The business had revenue of $60.11 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 83.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.81) earnings per share. On average, sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -3.1 EPS for the current fiscal year.

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.