Legato Capital Management LLC Invests $613,000 in Rhythm Pharmaceuticals, Inc. $RYTM

Legato Capital Management LLC acquired a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,723 shares of the company’s stock, valued at approximately $613,000.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in Rhythm Pharmaceuticals by 97.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 286 shares of the company’s stock valued at $29,000 after buying an additional 141 shares in the last quarter. Optiver Holding B.V. boosted its stake in Rhythm Pharmaceuticals by 65.2% in the 3rd quarter. Optiver Holding B.V. now owns 365 shares of the company’s stock valued at $37,000 after buying an additional 144 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in Rhythm Pharmaceuticals by 73.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 145 shares in the last quarter. GAMMA Investing LLC boosted its stake in Rhythm Pharmaceuticals by 48.6% in the 4th quarter. GAMMA Investing LLC now owns 361 shares of the company’s stock valued at $39,000 after buying an additional 118 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Rhythm Pharmaceuticals by 328.9% in the 4th quarter. Covestor Ltd now owns 579 shares of the company’s stock valued at $62,000 after buying an additional 444 shares in the last quarter.

Rhythm Pharmaceuticals Stock Performance

Rhythm Pharmaceuticals stock opened at $89.82 on Wednesday. The firm has a market cap of $6.16 billion, a P/E ratio of -28.70 and a beta of 1.94. The business’s fifty day moving average is $87.25 and its two-hundred day moving average is $97.41. Rhythm Pharmaceuticals, Inc. has a 52 week low of $58.71 and a 52 week 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 analysts’ consensus estimates of ($0.86) by $0.03. The company had revenue of $60.11 million for the quarter, compared to analyst estimates of $55.78 million. Rhythm Pharmaceuticals had a negative return on equity of 203.25% and a negative net margin of 93.33%.The business’s revenue was up 83.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.81) earnings per share. On average, equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -3.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RYTM. Wells Fargo & Company boosted their price target on Rhythm Pharmaceuticals from $143.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Canaccord Genuity Group boosted their price target on Rhythm Pharmaceuticals from $140.00 to $143.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen raised Rhythm Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. HC Wainwright decreased their price target on Rhythm Pharmaceuticals from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Finally, Citizens Jmp decreased their price target on Rhythm Pharmaceuticals from $176.00 to $152.00 and set a “market outperform” rating on the stock in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.81.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 5,614 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $89.56, for a total value of $502,789.84. Following the transaction, the chief accounting officer owned 160 shares of the company’s stock, valued at approximately $14,329.60. The trade was a 97.23% 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 hyperlink. Corporate insiders own 5.90% of the company’s stock.

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.