Checkpoint Capital L.P. Has $34.76 Million Stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Checkpoint Capital L.P. decreased its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 28.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 663,381 shares of the company’s stock after selling 258,719 shares during the period. Rhythm Pharmaceuticals comprises 17.2% of Checkpoint Capital L.P.’s portfolio, making the stock its 2nd biggest position. Checkpoint Capital L.P. owned about 1.08% of Rhythm Pharmaceuticals worth $34,755,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC increased its position in shares of Rhythm Pharmaceuticals by 348.9% in the second quarter. SG Americas Securities LLC now owns 33,727 shares of the company’s stock valued at $1,385,000 after acquiring an additional 26,214 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Rhythm Pharmaceuticals by 241.9% during the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock worth $1,707,000 after purchasing an additional 23,054 shares during the last quarter. Frazier Life Sciences Management L.P. increased its position in shares of Rhythm Pharmaceuticals by 8.3% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,371,304 shares of the company’s stock worth $97,366,000 after purchasing an additional 181,125 shares during the last quarter. Creative Planning bought a new stake in shares of Rhythm Pharmaceuticals during the 3rd quarter worth approximately $450,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Rhythm Pharmaceuticals by 32.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 967,243 shares of the company’s stock valued at $39,715,000 after buying an additional 236,600 shares during the last quarter.

Insider Activity

In other news, Director Lynn A. Tetrault sold 17,501 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $49.65, for a total transaction of $868,924.65. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $148,950. This trade represents a 85.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pamela J. Cramer sold 4,099 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $50.03, for a total transaction of $205,072.97. Following the transaction, the insider now directly owns 13,500 shares in the company, valued at $675,405. This represents a 23.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 138,181 shares of company stock valued at $8,359,750. 5.60% of the stock is owned by company insiders.

Rhythm Pharmaceuticals Stock Down 0.3 %

Shares of RYTM stock opened at $62.04 on Monday. Rhythm Pharmaceuticals, Inc. has a 12-month low of $32.22 and a 12-month high of $68.58. The company has a market capitalization of $3.81 billion, a PE ratio of -14.33 and a beta of 2.09. The firm has a 50 day moving average price of $54.24 and a two-hundred day moving average price of $48.05.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.07. The business had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm’s revenue for the quarter was up 47.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.76) EPS. As a group, research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.36 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RYTM. Guggenheim initiated coverage on shares of Rhythm Pharmaceuticals in a report on Monday, October 21st. They set a “buy” rating and a $70.00 target price on the stock. Canaccord Genuity Group restated a “buy” rating and set a $80.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Tuesday, November 19th. Needham & Company LLC raised their target price on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. HC Wainwright reiterated a “buy” rating and set a $69.00 price target on shares of Rhythm Pharmaceuticals in a report on Monday, November 25th. Finally, TD Cowen upped their price objective on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Rhythm Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $62.30.

Rhythm Pharmaceuticals Company 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.