AQR Capital Management LLC Grows Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

AQR Capital Management LLC grew its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 46.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,830 shares of the company’s stock after acquiring an additional 32,831 shares during the quarter. AQR Capital Management LLC owned about 0.17% of Rhythm Pharmaceuticals worth $4,263,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC increased its stake in Rhythm Pharmaceuticals by 348.9% during the 2nd quarter. SG Americas Securities LLC now owns 33,727 shares of the company’s stock valued at $1,385,000 after purchasing an additional 26,214 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Rhythm Pharmaceuticals by 30.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 86,967 shares of the company’s stock worth $3,768,000 after purchasing an additional 20,259 shares during the last quarter. Castleark Management LLC bought a new position in shares of Rhythm Pharmaceuticals during the first quarter valued at $2,769,000. Bayesian Capital Management LP purchased a new stake in shares of Rhythm Pharmaceuticals during the first quarter valued at $665,000. Finally, Vanguard Group Inc. increased its holdings in Rhythm Pharmaceuticals by 2.4% in the 1st 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 in the last quarter.

Rhythm Pharmaceuticals Trading Up 2.2 %

Shares of RYTM stock opened at $49.63 on Friday. Rhythm Pharmaceuticals, Inc. has a 12 month low of $21.34 and a 12 month high of $55.64. The stock has a market cap of $3.03 billion, a P/E ratio of -10.72 and a beta of 2.07. The company has a 50 day simple moving average of $48.26 and a two-hundred day simple moving average of $43.90.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.55) EPS for the quarter, topping 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 analyst estimates of $28.79 million. During the same period in the prior year, the business posted ($0.82) EPS. Rhythm Pharmaceuticals’s revenue was up 51.3% on a year-over-year basis. As a group, equities analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.43 earnings per share for the current year.

Insider Activity

In related news, insider Joseph Shulman sold 10,468 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $53.00, for a total value of $554,804.00. Following the completion of the sale, the insider now directly owns 30 shares of the company’s stock, valued at approximately $1,590. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Pamela J. Cramer sold 49,006 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 13,500 shares in the company, valued at $609,525. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph Shulman sold 10,468 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $53.00, for a total value of $554,804.00. Following the completion of the transaction, the insider now directly owns 30 shares of the company’s stock, valued at approximately $1,590. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,033 shares of company stock valued at $6,214,392 in the last ninety days. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RYTM shares. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Rhythm Pharmaceuticals in a report on Wednesday, August 7th. JMP Securities assumed coverage on shares of Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They set an “outperform” rating and a $64.00 price objective on the stock. Finally, HC Wainwright began coverage on shares of Rhythm Pharmaceuticals in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.00 target price for the company. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.88.

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.