Primecap Management 13F: Cuts RYTM Stake by $6.8M
Primecap Management trimmed its position in Rhythm Pharmaceuticals by 61,160 shares, reflecting a 1.8% decrease.
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Primecap Management sold 61,160 shares from its stake in Rhythm Pharmaceuticals, Inc. ($RYTM), a 1.76% decrease, according to a 13F filing with the SEC dated May 11, 2026. It reported 3,417,509 shares worth $379.45 million at the end of the quarter.
Since the filing, $RYTM is down 0.6% after 1 week, down 1.9% after 1 month and down 1.4% to date (from the $87.39 close on May 11, 2026).
Find the original: Primecap Management 13F filings on SEC EDGAR
RYTM
Rhythm Pharmaceuticals, Inc.
Key Points
- Primecap Management reduced its stake in Rhythm Pharmaceuticals by 61,160 shares, a 1.8% decrease, now holding 3.42 million shares valued at $370 million.
- Primecap Management held 3,417,509 $RYTM shares at quarter end, down 1.76% from the prior quarter.
- Rhythm Pharmaceuticals, with a market cap of $7.53 billion, trades at a forward P/E of -148.16 and has a 52-week range between $61.00 and $122.20.
- Insiders including Jennifer Good and Stuart Arbuckle bought shares recently, while analysts maintain a strong buy consensus with targets as high as $155.
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Primecap Management trimmed its holdings in Rhythm Pharmaceuticals, Inc. (NasdaqGM: RYTM) by 61,160 shares, as revealed in its latest 13F filing with the SEC. This move represents a 1.8% decrease, leaving Primecap with 3,417,509 shares valued at approximately $370 million as of the reporting period.
Primecap Management vs. the S&P 500
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What Changed in Primecap Management's Rhythm Pharmaceuticals Position
Primecap Management's recent filing shows it reduced its stake in Rhythm Pharmaceuticals. The firm now holds 3,417,509 shares, down from 3,478,669 shares, reflecting a 1.8% decrease. The value of this position is around $370 million.
Other Institutional Activity in Rhythm Pharmaceuticals
RA Capital Management maintained its position in Rhythm Pharmaceuticals with 6,666,837 shares, valued at about $580 million. BlackRock, Inc. reduced its holdings by 60,183 shares, ending with 6,237,151 shares worth approximately $542 million, marking a 1% decrease. Baker Bros. Advisors LP kept its stake unchanged at 5,604,483 shares, valued at around $487 million. Vanguard Portfolio Management opened a new position with 3,040,718 shares, valued at approximately $264 million, while Vanguard Capital Management also initiated a new stake with 2,967,825 shares, valued at about $258 million.
Rhythm Pharmaceuticals, Inc. Stock Up 13.6%
Shares of NasdaqGM: RYTM traded near $108.26 on Saturday. Rhythm Pharmaceuticals has a market cap of $7.53 billion and a forward P/E ratio of -148.16, indicating it isn't profitable. The stock's 52-week low is $61.00, and its 52-week high is $122.20. The company's 50-day moving average is $90.37, and its 200-day moving average is $97.88. With a beta of 1.923, the stock is relatively volatile. The company maintains a robust current ratio of 4.168 and a quick ratio of 3.632, with a debt-to-equity ratio of 47.264.
Recent Earnings
Rhythm Pharmaceuticals reported revenue of $217.2 million, with a growth rate of 83.8%. Despite this, the company has a negative net margin of -93.33% and a return on equity of -101.16%, reflecting ongoing challenges. The next earnings report is expected on August 4, 2026.
Insider Buying and Selling at Rhythm Pharmaceuticals, Inc.
Several insiders have recently bought shares of Rhythm Pharmaceuticals. On June 24, 2026, Jennifer Good, Stuart Arbuckle, David McGirr, and Lynn Tetrault each acquired 2,324 shares, while Good and Arbuckle also purchased an additional 3,691 shares each. These transactions were not part of a pre-planned trading program.
Analysts Set New Price Targets
Canaccord Genuity maintained its buy rating on June 16, 2026, setting a price target of $151. Wells Fargo also maintained a buy rating with a target of $155 on June 15, 2026. RBC Capital and Wells Fargo reiterated their buy ratings on May 6, 2026, with targets of $137 and $144, respectively. The overall analyst consensus is a strong buy, with a mean target price of $139.47 based on 15 analyst opinions.
About Rhythm Pharmaceuticals
Rhythm Pharmaceuticals, headquartered in Boston, Massachusetts, is a biopharmaceutical company focused on developing treatments for rare neuroendocrine diseases. Its lead product, IMCIVREE (setmelanotide), targets several rare conditions, including POMC and LEPR deficiency obesity. The company is also advancing other treatments, such as bivamelagon and RM-718, through various stages of clinical trials. Led by CEO Dr. David P. Meeker, Rhythm Pharmaceuticals employs 414 people.
Bottom Line
Primecap Management's slight reduction in its stake in Rhythm Pharmaceuticals is part of its portfolio adjustments, as reflected in the latest 13F filing. Rhythm Pharmaceuticals remains a significant player in the biotechnology sector, with substantial insider buying activity and strong analyst support. Investors will be watching its upcoming earnings report in August for further insights.
Related Filing Alerts
Source: Primecap Management's 13F filing on $RYTM (May 11, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Primecap Management 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts