Man Group plc Takes $5.64 Million Position in Rhythm Pharmaceuticals, Inc. $RYTM

Man Group plc purchased a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 50,788 shares of the company’s stock, valued at approximately $5,639,000. Man Group plc owned approximately 0.07% of Rhythm Pharmaceuticals at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted 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 purchasing an additional 200 shares during the period. SBI Securities Co. Ltd. raised its position in Rhythm Pharmaceuticals by 73.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 145 shares during the period. GAMMA Investing LLC raised its position in Rhythm Pharmaceuticals by 36.3% in the 2nd quarter. GAMMA Investing LLC now owns 364 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the period. Smartleaf Asset Management LLC lifted 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 worth $43,000 after purchasing an additional 113 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new position in shares of Rhythm Pharmaceuticals during the second quarter valued at approximately $51,000.

Rhythm Pharmaceuticals Price Performance

Shares of RYTM opened at $107.17 on Friday. The company’s fifty day moving average price is $109.78 and its 200-day moving average price is $96.95. Rhythm Pharmaceuticals, Inc. has a 1-year low of $74.50 and a 1-year high of $122.20. The firm has a market capitalization of $7.34 billion, a PE ratio of -34.46 and a beta of 1.92.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.08. The company had revenue of $71.25 million during the quarter, compared to analyst estimates of $67.66 million. Rhythm Pharmaceuticals had a negative net margin of 85.59% and a negative return on equity of 159.87%. Rhythm Pharmaceuticals’s revenue for the quarter was up 46.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.75) EPS. As a group, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -2.82 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RYTM shares. Stifel Nicolaus set a $133.00 price objective on Rhythm Pharmaceuticals in a report on Monday, June 15th. National Bank Financial set a $160.00 target price on Rhythm Pharmaceuticals in a research note on Wednesday, August 5th. Citigroup reiterated a “market outperform” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 5th. Citizens Jmp boosted their target price 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. Finally, TD Cowen restated a “buy” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, June 17th. Fifteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.12.

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Alastair Garfield sold 7,763 shares of Rhythm Pharmaceuticals stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $117.57, for a total value of $912,695.91. Following the sale, the insider owned 2,295 shares of the company’s stock, valued at approximately $269,823.15. This trade represents a 77.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lynn A. Tetrault sold 37,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $100.32, for a total transaction of $3,711,840.00. Following the sale, the director directly owned 7,000 shares of the company’s stock, valued at $702,240. This represents a 84.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 182,676 shares of company stock valued at $20,754,691 in the last ninety days. 5.90% of the stock is currently owned by company insiders.

About Rhythm Pharmaceuticals

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.