6,386 Shares in Rhythm Pharmaceuticals, Inc. $RYTM Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC acquired a new stake in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 6,386 shares of the company’s stock, valued at approximately $645,000.

A number of other institutional investors also recently modified their holdings of RYTM. Osaic Holdings Inc. lifted its position in shares of Rhythm Pharmaceuticals by 65.9% during the second quarter. Osaic Holdings Inc. now owns 979 shares of the company’s stock worth $62,000 after purchasing an additional 389 shares in the last quarter. State of Wyoming bought a new position in Rhythm Pharmaceuticals in the 2nd quarter worth approximately $67,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rhythm Pharmaceuticals by 16.2% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,458 shares of the company’s stock worth $155,000 after buying an additional 342 shares in the last quarter. Bayforest Capital Ltd acquired a new position in Rhythm Pharmaceuticals during the 1st quarter worth $166,000. Finally, CWM LLC boosted its position in Rhythm Pharmaceuticals by 19.6% in the 2nd quarter. CWM LLC now owns 3,091 shares of the company’s stock valued at $195,000 after buying an additional 507 shares during the last quarter.

Insider Buying and Selling

In other news, insider Joseph Shulman sold 14,437 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $112.03, for a total value of $1,617,377.11. Following the completion of the transaction, the insider owned 8,509 shares of the company’s stock, valued at $953,263.27. The trade was a 62.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pamela J. Cramer sold 3,350 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $111.00, for a total transaction of $371,850.00. Following the completion of the sale, the insider owned 20,814 shares of the company’s stock, valued at approximately $2,310,354. This represents a 13.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 30,350 shares of company stock valued at $3,436,340. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JMP Securities boosted their target price on Rhythm Pharmaceuticals from $135.00 to $142.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, October 8th. UBS Group restated a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 17th. Cowen reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Thursday, December 11th. Finally, Morgan Stanley reissued an “overweight” rating and set a $150.00 price target on shares of Rhythm Pharmaceuticals in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Rhythm Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $126.47.

Rhythm Pharmaceuticals Trading Up 2.3%

NASDAQ:RYTM opened at $112.55 on Tuesday. Rhythm Pharmaceuticals, Inc. has a 1-year low of $45.90 and a 1-year high of $122.20. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of -36.31 and a beta of 1.96. The business’s 50-day moving average price is $107.01 and its two-hundred day moving average price is $96.15.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its earnings results on Tuesday, November 4th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.10). The company had revenue of $51.30 million for the quarter, compared to analyst estimates of $50.71 million. Rhythm Pharmaceuticals had a negative return on equity of 433.21% and a negative net margin of 110.32%. Sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

About Rhythm Pharmaceuticals

Rhythm Pharmaceuticals, Inc is a clinical‐stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin‐4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.