China Universal Asset Management Co. Ltd. Boosts Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

China Universal Asset Management Co. Ltd. lifted its stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 64.1% during the third quarter, Holdings Channel reports. The institutional investor owned 11,758 shares of the company’s stock after acquiring an additional 4,595 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Rhythm Pharmaceuticals were worth $616,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Perceptive Advisors LLC boosted its stake in shares of Rhythm Pharmaceuticals by 5.4% in the second quarter. Perceptive Advisors LLC now owns 3,446,579 shares of the company’s stock worth $141,517,000 after buying an additional 178,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Rhythm Pharmaceuticals by 2.4% in the first quarter. Vanguard Group Inc. now owns 3,304,146 shares of the company’s stock worth $143,169,000 after buying an additional 77,208 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its stake in shares of Rhythm Pharmaceuticals by 8.3% in the second quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock worth $97,366,000 after buying an additional 181,125 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Rhythm Pharmaceuticals by 38.2% in the second quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company’s stock worth $48,548,000 after buying an additional 326,865 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Rhythm Pharmaceuticals by 32.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 967,243 shares of the company’s stock worth $39,715,000 after buying an additional 236,600 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price target on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 7th. Guggenheim assumed coverage on Rhythm Pharmaceuticals in a report on Monday, October 21st. They issued a “buy” rating and a $70.00 price target for the company. Bank of America upped their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. JMP Securities assumed coverage on Rhythm Pharmaceuticals in a report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $64.00 price target on shares of Rhythm Pharmaceuticals in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.33.

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Pamela J. Cramer sold 3,200 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $50.01, for a total value of $160,032.00. Following the completion of the sale, the insider now owns 13,500 shares of the company’s stock, valued at approximately $675,135. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Pamela J. Cramer sold 49,006 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $45.15, for a total value of $2,212,620.90. Following the completion of the transaction, the insider now directly owns 13,500 shares in the company, valued at approximately $609,525. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Pamela J. Cramer sold 3,200 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $50.01, for a total value of $160,032.00. Following the completion of the transaction, the insider now owns 13,500 shares of the company’s stock, valued at $675,135. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,857 shares of company stock valued at $5,325,446. 5.60% of the stock is currently owned by insiders.

Rhythm Pharmaceuticals Price Performance

Shares of Rhythm Pharmaceuticals stock opened at $49.54 on Wednesday. The business has a 50 day simple moving average of $49.40 and a two-hundred day simple moving average of $44.84. Rhythm Pharmaceuticals, Inc. has a 12 month low of $21.67 and a 12 month high of $55.64. The stock has a market capitalization of $3.02 billion, a P/E ratio of -10.70 and a beta of 2.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The firm had revenue of $29.08 million during the quarter, compared to analysts’ expectations of $28.79 million. During the same quarter last year, the firm earned ($0.82) earnings per share. The business’s revenue for the quarter was up 51.3% on a year-over-year basis. As a group, research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.45 EPS for the current fiscal year.

Rhythm Pharmaceuticals Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.