VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Rhythm Pharmaceuticals, Inc. $RYTM

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,700 shares of the company’s stock, valued at approximately $677,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RYTM. Farther Finance Advisors LLC lifted its holdings in Rhythm Pharmaceuticals by 1,110.3% during the third quarter. Farther Finance Advisors LLC now owns 351 shares of the company’s stock worth $35,000 after acquiring an additional 322 shares during the period. Osaic Holdings Inc. increased its position in shares of Rhythm Pharmaceuticals by 65.9% during the 2nd quarter. Osaic Holdings Inc. now owns 979 shares of the company’s stock valued at $62,000 after purchasing an additional 389 shares during the last quarter. State of Wyoming bought a new stake in shares of Rhythm Pharmaceuticals during the 2nd quarter worth $67,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 purchasing an additional 342 shares during the period. Finally, Bayforest Capital Ltd purchased a new position in shares of Rhythm Pharmaceuticals in the 1st quarter worth about $166,000.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RYTM shares. The Goldman Sachs Group raised their price objective on shares of Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Canaccord Genuity Group raised their price target on shares of Rhythm Pharmaceuticals from $114.00 to $141.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 price target on shares of Rhythm Pharmaceuticals in a report on Thursday, December 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, October 8th. Finally, Needham & Company LLC boosted their target price on Rhythm Pharmaceuticals from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $129.79.

Insider Activity

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 14,437 shares of Rhythm Pharmaceuticals stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $112.03, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Pamela J. Cramer sold 3,350 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $111.00, for a total value of $371,850.00. Following the sale, the insider owned 20,814 shares in the company, valued at approximately $2,310,354. This represents a 13.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 30,350 shares of company stock valued at $3,436,340. 6.10% of the stock is owned by corporate insiders.

Rhythm Pharmaceuticals Trading Down 1.9%

Rhythm Pharmaceuticals stock opened at $105.01 on Monday. The firm has a 50 day simple moving average of $106.81 and a 200 day simple moving average of $97.40. 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 $7.01 billion, a price-to-earnings ratio of -33.87 and a beta of 2.00.

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 analysts’ expectations of $50.71 million. Rhythm Pharmaceuticals had a negative return on equity of 433.21% and a negative net margin of 110.32%. On average, equities research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS 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.