Arizona State Retirement System Sells 366 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Arizona State Retirement System lowered its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 2.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,627 shares of the company’s stock after selling 366 shares during the quarter. Arizona State Retirement System’s holdings in Rhythm Pharmaceuticals were worth $518,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RYTM. Charles Schwab Investment Management Inc. boosted its position in Rhythm Pharmaceuticals by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 397,685 shares of the company’s stock worth $18,282,000 after purchasing an additional 12,937 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Rhythm Pharmaceuticals by 14.2% in the fourth quarter. BNP Paribas Financial Markets now owns 63,085 shares of the company’s stock valued at $2,900,000 after acquiring an additional 7,842 shares during the period. Jump Financial LLC acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth $588,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth $234,000. Finally, Artisan Partners Limited Partnership acquired a new stake in shares of Rhythm Pharmaceuticals in the fourth quarter worth $12,477,000.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.83.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 1,395 shares of Rhythm Pharmaceuticals stock in a transaction on Monday, July 29th. The shares were sold at an average price of $49.06, for a total transaction of $68,438.70. Following the sale, the insider now owns 31,735 shares in the company, valued at $1,556,919.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 1,395 shares of Rhythm Pharmaceuticals stock in a transaction on Monday, July 29th. The stock was sold at an average price of $49.06, for a total transaction of $68,438.70. Following the completion of the transaction, the insider now directly owns 31,735 shares of the company’s stock, valued at $1,556,919.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Shulman sold 10,468 shares of Rhythm Pharmaceuticals stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $53.00, for a total value of $554,804.00. Following the transaction, the insider now directly owns 30 shares of the company’s stock, valued at $1,590. The disclosure for this sale can be found here. Insiders have sold 95,282 shares of company stock worth $4,550,639 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.

Rhythm Pharmaceuticals Trading Down 0.2 %

Shares of Rhythm Pharmaceuticals stock opened at $49.52 on Tuesday. Rhythm Pharmaceuticals, Inc. has a 1 year low of $20.97 and a 1 year high of $53.92. The company’s fifty day simple moving average is $47.57 and its 200-day simple moving average is $42.86. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -10.70 and a beta of 2.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.16. Rhythm Pharmaceuticals had a negative net margin of 254.88% and a negative return on equity of 221.65%. The firm had revenue of $29.08 million for the quarter, compared to the consensus estimate of $28.79 million. During the same quarter in the previous year, the company earned ($0.82) earnings per share. The business’s revenue was up 51.3% compared to the same quarter last year. As a group, research analysts forecast that Rhythm Pharmaceuticals, Inc. will post -4.44 earnings per share for the current fiscal year.

Rhythm Pharmaceuticals Company 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.