Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 86.3% in the third quarter, Holdings Channel.com reports. The fund owned 27,716 shares of the company’s stock after selling 174,610 shares during the period. Wellington Management Group LLP’s holdings in Rhythm Pharmaceuticals were worth $1,452,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in Rhythm Pharmaceuticals by 0.8% during the third quarter. Janus Henderson Group PLC now owns 598,122 shares of the company’s stock valued at $31,335,000 after purchasing an additional 4,480 shares during the last quarter. HighVista Strategies LLC lifted its position in shares of Rhythm Pharmaceuticals by 160.6% during the 3rd quarter. HighVista Strategies LLC now owns 37,426 shares of the company’s stock valued at $1,961,000 after acquiring an additional 23,064 shares during the last quarter. Bellevue Group AG boosted its stake in shares of Rhythm Pharmaceuticals by 20.8% during the 3rd quarter. Bellevue Group AG now owns 15,700 shares of the company’s stock worth $823,000 after acquiring an additional 2,700 shares in the last quarter. Alkeon Capital Management LLC grew its holdings in shares of Rhythm Pharmaceuticals by 16.8% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock worth $61,176,000 after acquiring an additional 167,700 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Rhythm Pharmaceuticals by 14.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock worth $58,208,000 after purchasing an additional 143,800 shares during the period.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Pamela J. Cramer sold 4,688 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $65.00, for a total value of $304,720.00. Following the completion of the sale, the insider now owns 13,500 shares of the company’s stock, valued at $877,500. The trade was a 25.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer Kayden Lee sold 66,861 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $66.33, for a total value of $4,434,890.13. Following the sale, the executive vice president now owns 972 shares of the company’s stock, valued at approximately $64,472.76. This trade represents a 98.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,830 shares of company stock valued at $5,622,000. 5.60% of the stock is owned by corporate insiders.

Rhythm Pharmaceuticals Stock Down 5.5 %

Shares of NASDAQ:RYTM opened at $53.69 on Thursday. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58. The firm has a market capitalization of $3.30 billion, a P/E ratio of -12.40 and a beta of 2.14. The firm has a fifty day moving average of $56.00 and a two-hundred day moving average of $49.79.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its earnings results on Tuesday, November 5th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 367.36% and a negative net margin of 230.07%. The firm had revenue of $33.20 million for the quarter, compared to the consensus estimate of $32.52 million. During the same quarter in the previous year, the company posted ($0.76) earnings per share. The business’s quarterly revenue was up 47.6% compared to the same quarter last year. Equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RYTM shares. JMP Securities started coverage on Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 price target on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. Needham & Company LLC upped their price target on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group lifted their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, HC Wainwright restated a “buy” rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $63.70.

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.