Assenagon Asset Management S.A. Increases Stock Position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Posted by on Jul 1st, 2023

Assenagon Asset Management S.A. lifted its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM – Free Report) by 43.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 664,026 shares of the company’s stock after buying an additional 200,510 shares during the quarter. Assenagon Asset Management S.A. owned about 1.17% of Rhythm Pharmaceuticals worth $11,846,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RYTM. UBS Group AG lifted its stake in Rhythm Pharmaceuticals by 1,401.4% in the 2nd quarter. UBS Group AG now owns 7,507 shares of the company’s stock worth $31,000 after purchasing an additional 7,007 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Rhythm Pharmaceuticals in the 1st quarter worth approximately $39,000. State of Wyoming purchased a new stake in Rhythm Pharmaceuticals in the 4th quarter worth approximately $65,000. BNP Paribas Arbitrage SA lifted its stake in Rhythm Pharmaceuticals by 75.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 20,586 shares of the company’s stock worth $85,000 after purchasing an additional 8,822 shares in the last quarter. Finally, Denali Advisors LLC lifted its stake in Rhythm Pharmaceuticals by 68.4% in the 4th quarter. Denali Advisors LLC now owns 3,200 shares of the company’s stock worth $93,000 after purchasing an additional 1,300 shares in the last quarter.

Rhythm Pharmaceuticals Trading Down 1.3 %

NASDAQ RYTM opened at $16.49 on Friday. Rhythm Pharmaceuticals, Inc. has a 1 year low of $4.08 and a 1 year high of $34.99. The company’s 50 day simple moving average is $17.69 and its two-hundred day simple moving average is $22.38.

Rhythm Pharmaceuticals (NASDAQ:RYTM – Free Report) last issued its quarterly earnings results on Tuesday, May 2nd. The company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.21). The company had revenue of $11.50 million during the quarter, compared to the consensus estimate of $12.12 million. Rhythm Pharmaceuticals had a negative return on equity of 75.16% and a negative net margin of 537.16%. Rhythm Pharmaceuticals’s quarterly revenue was up 666.7% on a year-over-year basis. During the same period in the previous year, the company earned ($1.05) EPS. As a group, research analysts predict that Rhythm Pharmaceuticals, Inc. will post -3.27 EPS for the current year.

Rhythm Pharmaceuticals Profile

(Free Report)

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic diseases of obesity. The company's lead product candidate is IMCIVREE, 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.

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Institutional Ownership by Quarter for Rhythm Pharmaceuticals (NASDAQ:RYTM)

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