Strs Ohio Purchases Shares of 3,000 Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Strs Ohio purchased a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,000 shares of the company’s stock, valued at approximately $137,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RYTM. Polar Capital Holdings Plc increased its holdings in Rhythm Pharmaceuticals by 11.1% in the 3rd quarter. Polar Capital Holdings Plc now owns 2,500,000 shares of the company’s stock valued at $57,312,000 after buying an additional 250,000 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter worth about $4,757,000. Clearbridge Investments LLC bought a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter worth about $4,191,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Rhythm Pharmaceuticals in the 3rd quarter worth about $4,058,000. Finally, FMR LLC grew its holdings in shares of Rhythm Pharmaceuticals by 23.8% in the 3rd quarter. FMR LLC now owns 868,474 shares of the company’s stock worth $19,910,000 after purchasing an additional 166,940 shares during the last quarter.

Insider Buying and Selling

In other news, insider Joseph Shulman sold 71,774 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $50.38, for a total value of $3,615,974.12. Following the transaction, the insider now owns 2,686 shares of the company’s stock, valued at approximately $135,320.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Yann Mazabraud sold 1,594 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $51.38, for a total value of $81,899.72. Following the transaction, the executive vice president now owns 7,702 shares of the company’s stock, valued at approximately $395,728.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Shulman sold 71,774 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $50.38, for a total transaction of $3,615,974.12. Following the completion of the transaction, the insider now directly owns 2,686 shares in the company, valued at approximately $135,320.68. The disclosure for this sale can be found here. Insiders have sold a total of 172,069 shares of company stock worth $7,626,355 in the last 90 days. Corporate insiders own 4.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RYTM shares. The Goldman Sachs Group upped their target price on shares of Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company lowered their target price on shares of Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Rhythm Pharmaceuticals in a report on Friday, April 26th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Rhythm Pharmaceuticals currently has an average rating of “Buy” and an average target price of $47.20.

Rhythm Pharmaceuticals Stock Up 2.4 %

Shares of NASDAQ RYTM opened at $39.76 on Wednesday. The firm’s 50-day simple moving average is $41.21 and its 200 day simple moving average is $39.18. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -12.42 and a beta of 1.90. Rhythm Pharmaceuticals, Inc. has a 12-month low of $15.50 and a 12-month high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.70) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.70). The business had revenue of $24.23 million for the quarter, compared to the consensus estimate of $25.38 million. Rhythm Pharmaceuticals had a negative net margin of 238.50% and a negative return on equity of 96.02%. The firm’s quarterly revenue was up 175.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.75) EPS. On average, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.02 earnings per share for the current year.

Rhythm Pharmaceuticals 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.