Rhythm Pharmaceuticals Inc.

RYTM

Held by 6 specialist biotech funds

High Convergence

Share on X

Fund Holdings

6 fund convergence

Baker Bros. Advisors Driehaus Capital RA Capital Management

Catalysts

No catalysts tracked.

Activist Filings

SC 13G/ARA Capital Management9.9%Feb 17, 2026

SC 13G/ARA Capital Management8.7%Aug 14, 2025

SC 13G/A

Position Details

Baker Bros. AdvisorsNEWFeb 17, 2026

Shares: 5,604,483Value: $599.9M

**Signal Note: Baker Bros. Initiates Major Position in Rhythm Pharmaceuticals (RYTM)** Baker Bros. building a substantial new position in RYTM is a high-conviction signal given their track record of concentrating in names where they see significant commercial inflection or pipeline catalysts — Rhythm's lead asset setmelanotide (IMCIVREE), an MC4R agonist approved for rare genetic obesity (BBS, POMC, LEPR deficiencies), is in active label expansion with potential broadening into additional MC4R pathway obesities and hypothalamic obesity, representing a meaningful TAM expansion story. The ~5.6M share stake (note: the reported dollar value appears to contain a data error and likely represents ~$280-320M based on recent share prices around $50-57) would represent a significant ownership percentage, consistent with Baker Bros.' pattern of taking outsized positions ahead of key

Driehaus CapitalNEW

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Insider Signals

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Also Held by These Funds

PRAX4 funds AAVXF3 funds ALKS3 funds RNA3 funds SION3 funds CTMX3 funds NUVL3 funds AXSM

Research Links

Yahoo Finance →SEC EDGAR →ClinicalTrials.gov →

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# Signal Note: Driehaus Initiates $137.6M Position in Rhythm Pharmaceuticals Driehaus's entry into RYTM suggests conviction in imparipamtide (setmelanotide), a melanocortin-4 receptor agonist approved for rare genetic obesity (POMC, PCSK1, PCDH1 deficiencies). The $137.6M stake timing likely reflects confidence in commercial execution post-launch and potential label expansions, though peak sales estimates remain modest (~$200-400M) given the ultra-rare patient population. Watch for 2024-2025 revenue ramp and any pipeline advancement toward additional genetic obesity indications as validation of the investment thesis.