Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its holdings in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 21.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,321 shares of the company’s stock after buying an additional 3,400 shares during the period. Handelsbanken Fonder AB’s holdings in Rhythm Pharmaceuticals were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RYTM. Perceptive Advisors LLC increased its holdings in shares of Rhythm Pharmaceuticals by 465.6% during the fourth quarter. Perceptive Advisors LLC now owns 2,154,110 shares of the company’s stock valued at $99,024,000 after acquiring an additional 1,773,282 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Rhythm Pharmaceuticals by 381.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 730,643 shares of the company’s stock worth $31,659,000 after buying an additional 578,800 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in shares of Rhythm Pharmaceuticals by 38.2% during the second quarter. Driehaus Capital Management LLC now owns 1,182,370 shares of the company’s stock worth $48,548,000 after buying an additional 326,865 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Rhythm Pharmaceuticals by 116.1% during the first quarter. Canada Pension Plan Investment Board now owns 577,000 shares of the company’s stock valued at $25,001,000 after buying an additional 310,000 shares during the last quarter. Finally, Candriam S.C.A. acquired a new position in shares of Rhythm Pharmaceuticals in the 2nd quarter valued at $11,143,000.

Analyst Upgrades and Downgrades

RYTM has been the subject of a number of research reports. HC Wainwright reaffirmed a “buy” rating and set a $64.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, October 7th. JMP Securities assumed coverage on Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $55.00 price target on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.88.

Rhythm Pharmaceuticals Stock Up 3.9 %

Rhythm Pharmaceuticals stock opened at $49.82 on Friday. The business’s 50-day moving average price is $48.36 and its 200 day moving average price is $44.15. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of -11.43 and a beta of 2.07. Rhythm Pharmaceuticals, Inc. has a 52 week low of $21.34 and a 52 week high of $55.64.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.55) EPS 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 business had revenue of $29.08 million for the quarter, compared to analysts’ expectations of $28.79 million. During the same quarter last year, the company earned ($0.82) EPS. The business’s revenue was up 51.3% on a year-over-year basis. Equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.44 EPS for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, insider Pamela J. Cramer sold 1,395 shares of the stock in a transaction dated 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 directly owns 31,735 shares of the company’s stock, valued at $1,556,919.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Pamela J. Cramer sold 1,395 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $49.06, for a total value of $68,438.70. Following the completion of the transaction, the insider now owns 31,735 shares of the company’s stock, valued at approximately $1,556,919.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Pamela J. Cramer sold 49,006 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $45.15, for a total value of $2,212,620.90. Following the transaction, the insider now owns 13,500 shares in the company, valued at $609,525. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,720 shares of company stock valued at $5,948,689. Corporate insiders own 5.60% of the company’s stock.

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.