Fmr LLC Grows Stock Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Fmr LLC lifted its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 79.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,295 shares of the company’s stock after acquiring an additional 22,306 shares during the period. Fmr LLC’s holdings in Rhythm Pharmaceuticals were worth $2,635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RYTM. CWM LLC lifted its stake in shares of Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after purchasing an additional 253 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals during the 3rd quarter valued at about $63,000. Quest Partners LLC lifted its position in Rhythm Pharmaceuticals by 513.3% during the 2nd quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after acquiring an additional 1,391 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Rhythm Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211 shares of the company’s stock worth $114,000 after acquiring an additional 391 shares during the period. Finally, Creative Planning acquired a new stake in Rhythm Pharmaceuticals in the third quarter valued at approximately $450,000.

Insider Transactions at Rhythm Pharmaceuticals

In related news, Director Jennifer L. Good sold 31,751 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $52.40, for a total value of $1,663,752.40. Following the sale, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $157,200. The trade was a 91.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jennifer Kayden Lee sold 66,861 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $66.33, for a total value of $4,434,890.13. Following the completion of the sale, the executive vice president now directly owns 972 shares in the company, valued at approximately $64,472.76. This represents a 98.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,581 shares of company stock valued at $7,285,752 over the last three months. 5.60% of the stock is currently owned by corporate insiders.

Rhythm Pharmaceuticals Price Performance

NASDAQ RYTM opened at $55.24 on Friday. The stock’s 50 day simple moving average is $55.66 and its 200 day simple moving average is $49.41. Rhythm Pharmaceuticals, Inc. has a one year low of $35.17 and a one year high of $68.58. The firm has a market cap of $3.40 billion, a PE ratio of -12.76 and a beta of 2.14.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.07. The company had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The business’s revenue for the quarter was up 47.6% on a year-over-year basis. During the same period last year, the firm earned ($0.76) EPS. As a group, equities analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $69.00 target price on shares of Rhythm Pharmaceuticals in a research report on Wednesday, December 4th. Needham & Company LLC lifted their price objective on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. TD Cowen increased their target price on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price target on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Bank of America increased their price objective on shares of Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.70.

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.