ZRC Wealth Management LLC Buys 1,571 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

ZRC Wealth Management LLC increased its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 392.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,971 shares of the company’s stock after acquiring an additional 1,571 shares during the quarter. ZRC Wealth Management LLC’s holdings in Rhythm Pharmaceuticals were worth $85,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Rhythm Pharmaceuticals by 4.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,181 shares of the company’s stock worth $422,000 after purchasing an additional 406 shares during the period. Nisa Investment Advisors LLC increased its holdings in Rhythm Pharmaceuticals by 91.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,256 shares of the company’s stock valued at $58,000 after buying an additional 600 shares during the period. AJOVista LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at approximately $42,000. Quarry LP acquired a new position in shares of Rhythm Pharmaceuticals in the 4th quarter valued at approximately $69,000. Finally, Whittier Trust Co. bought a new stake in shares of Rhythm Pharmaceuticals during the 4th quarter worth approximately $92,000.

Analyst Upgrades and Downgrades

RYTM has been the topic of a number of recent analyst reports. Canaccord Genuity Group decreased their price objective on shares of Rhythm Pharmaceuticals from $80.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Bank of America downgraded Rhythm Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $49.00 to $42.00 in a research report on Wednesday, May 8th. Wells Fargo & Company lowered their target price on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Finally, Needham & Company LLC reduced their price target on shares of Rhythm Pharmaceuticals from $50.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.33.

Insider Buying and Selling at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 3,984 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $38.47, for a total transaction of $153,264.48. Following the sale, the insider now owns 30 shares in the company, valued at approximately $1,154.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.60% of the company’s stock.

Rhythm Pharmaceuticals Price Performance

RYTM opened at $40.81 on Friday. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $15.50 and a fifty-two week high of $52.57. The company’s 50 day moving average price is $39.92 and its two-hundred day moving average price is $42.17. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -8.81 and a beta of 2.04.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($2.35) earnings per share for the quarter, missing the consensus estimate of ($2.34) by ($0.01). The business had revenue of $26.00 million during the quarter, compared to the consensus estimate of $26.90 million. Rhythm Pharmaceuticals had a negative return on equity of 179.26% and a negative net margin of 297.91%. The business’s revenue for the quarter was up 126.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.92) EPS. As a group, equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS for the current year.

About Rhythm Pharmaceuticals

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.