Rhythm Pharmaceuticals, Inc. $RYTM Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 40.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 11,741 shares of the company’s stock after selling 7,813 shares during the period. SG Americas Securities LLC’s holdings in Rhythm Pharmaceuticals were worth $1,257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RYTM. AQR Capital Management LLC increased its position in shares of Rhythm Pharmaceuticals by 148.2% during the first quarter. AQR Capital Management LLC now owns 39,363 shares of the company’s stock worth $2,085,000 after purchasing an additional 23,506 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Rhythm Pharmaceuticals by 6.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,282 shares of the company’s stock worth $1,874,000 after purchasing an additional 2,126 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Rhythm Pharmaceuticals by 62.9% during the second quarter. Prudential Financial Inc. now owns 7,095 shares of the company’s stock worth $423,000 after purchasing an additional 2,740 shares in the last quarter. Norges Bank acquired a new stake in shares of Rhythm Pharmaceuticals during the second quarter worth about $13,105,000. Finally, Qube Research & Technologies Ltd increased its position in shares of Rhythm Pharmaceuticals by 11.2% during the second quarter. Qube Research & Technologies Ltd now owns 240,345 shares of the company’s stock worth $15,187,000 after purchasing an additional 24,152 shares in the last quarter.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, CAO Christopher Paul German sold 5,614 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $89.56, for a total value of $502,789.84. Following the sale, the chief accounting officer owned 160 shares of the company’s stock, valued at approximately $14,329.60. The trade was a 97.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Hunter C. Smith sold 4,385 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $101.26, for a total value of $444,025.10. Following the completion of the sale, the chief financial officer directly owned 110,512 shares in the company, valued at $11,190,445.12. This represents a 3.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 27,267 shares of company stock worth $2,719,955 in the last ninety days. 6.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on Rhythm Pharmaceuticals from $141.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Royal Bank Of Canada cut their target price on Rhythm Pharmaceuticals from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 17th. Stifel Nicolaus set a $131.00 target price on Rhythm Pharmaceuticals in a research report on Thursday, February 26th. Morgan Stanley cut their target price on Rhythm Pharmaceuticals from $150.00 to $136.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Finally, TD Cowen reiterated a “buy” rating on shares of Rhythm Pharmaceuticals in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Rhythm Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $131.13.

Rhythm Pharmaceuticals Stock Down 0.3%

Shares of RYTM stock opened at $86.66 on Wednesday. The stock has a market capitalization of $5.92 billion, a PE ratio of -27.86 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a 52-week low of $49.86 and a 52-week high of $122.20. The stock’s 50-day moving average price is $93.92 and its 200 day moving average price is $101.24.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.06. Rhythm Pharmaceuticals had a negative return on equity of 266.56% and a negative net margin of 103.57%.The company had revenue of $57.25 million for the quarter, compared to analyst estimates of $56.16 million. During the same quarter in the previous year, the company earned ($0.72) EPS. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. Analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current fiscal year.

Rhythm Pharmaceuticals Company Profile

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.