Perceptive Advisors RYTM Position
Active8-Fund ConvergencePerceptive Advisors increased their position in Rhythm Pharmaceuticals Inc. (RYTM) in Q4 2025, holding $272.6M worth of shares across 2,546,391 shares.
The position was first reported in Q3 2023 and has been tracked across 10 quarterly 13F filings.
RYTM is a convergence signal: 8 specialist biotech funds hold this stock, suggesting high institutional conviction.
There is an upcoming Phase 2 readout for Setmelanotide in 198 days (Oct 31, 2026), making the timing of Perceptive's position particularly relevant.
Short interest stands at 12.2% of float with 8.0 days to cover, indicating significant bearish positioning against Perceptive's long thesis.
About Rhythm Pharmaceuticals Inc.
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 potent 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. It is also developing setmelanotide, which is in Phase II clinical trials for treating POMC or LEPR heterozygous deficiency obesities, steroid receptor coactivator 1 deficiency obesity, SH2B1 deficiency obesity, MC4 receptor deficiency obesity, Smith-Magenis syndrome obesity, POMC epigenetic disorders, and other MC4R disorders. Rhythm Pharmaceuticals, Inc. has a collaborative research agreement with the Clinical Registry Investigating Bardet-Biedl Syndrome. The company was formerly known as Rhythm Metabolic, Inc. and changed its name to Rhythm Pharmaceuticals, Inc. in October 2015. Rhythm Pharmaceuticals, Inc. was founded in 2008 and is headquartered in Boston, Massachusetts.
Full company profile →Short Interest
12.2%
8.0 days to cover
Perceptive Advisors RYTM Position History
| Quarter | Action | Shares | Change | Value |
|---|---|---|---|---|
| Q4 2025 | Increased | 2,546,391 | +107,422 | $272.6M |
| Q3 2025 | Increased | 2,438,969 | +20,670 | $246.3M |
| Q2 2025 | Decreased | 2,418,299 | -130,146 | $152.8M |
| Q1 2025 | Decreased | 2,548,445 | -1,132,028 | $135.0M |
| Q4 2024 | Increased | 3,680,473 | +120,259 | $206.0M |
| Q3 2024 | Increased | 3,560,214 | +113,635 | $186.5M |
| Q2 2024 | Increased | 3,446,579 | +178,000 | $141.5M |
| Q1 2024 | Increased | 3,268,579 | +1,114,469 | $141.6M |
| Q4 2023 | Increased | 2,154,110 | +1,773,282 | $99.0M |
| Q3 2023 | New | 380,828 | +380,828 | $8.7M |
Frequently Asked Questions
Does Perceptive Advisors own RYTM?
Yes. As of Q4 2025, Perceptive Advisors holds 2,546,391 shares of Rhythm Pharmaceuticals Inc. (RYTM) valued at $272.6M. This data comes from their SEC 13F filing.
How many hedge funds own RYTM?
8 specialist biotech hedge funds currently hold RYTM, including RA Capital Management, Baker Bros. Advisors, Driehaus Capital and 4 more. When 3 or more specialist funds hold the same stock, BiotechEdge flags it as a convergence signal.
When did Perceptive Advisors first buy RYTM?
Perceptive Advisors's position in RYTM was first reported in Q3 2023. 13F filings are reported with a 45-day delay, so the actual purchase may have occurred earlier in the quarter.
Is Perceptive Advisors's RYTM position increasing or decreasing?
Perceptive Advisors increased their RYTM position in the most recent quarter, adding 107,422 shares.
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