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

Handelsbanken Fonder AB lessened its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 11.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,021 shares of the company’s stock after selling 2,300 shares during the period. Handelsbanken Fonder AB’s holdings in Rhythm Pharmaceuticals were worth $953,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. acquired a new position in Rhythm Pharmaceuticals in the 4th quarter valued at about $28,000. R Squared Ltd purchased a new stake in Rhythm Pharmaceuticals in the 4th quarter valued at about $44,000. Mirae Asset Global Investments Co. Ltd. grew 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 valued at $114,000 after buying an additional 391 shares during the period. KBC Group NV grew its holdings in Rhythm Pharmaceuticals by 78.2% in the 4th quarter. KBC Group NV now owns 2,251 shares of the company’s stock valued at $126,000 after buying an additional 988 shares during the period. Finally, Creative Planning purchased a new stake in Rhythm Pharmaceuticals in the 3rd quarter valued at about $450,000.

Rhythm Pharmaceuticals Stock Down 0.6 %

NASDAQ:RYTM opened at $53.00 on Friday. The business’s 50-day moving average price is $56.98 and its 200 day moving average price is $54.21. The firm has a market cap of $3.26 billion, a P/E ratio of -12.24 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.03). Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company had revenue of $41.83 million during the quarter, compared to analyst estimates of $38.48 million. Sell-side analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Insiders Place Their Bets

In other news, insider Joseph Shulman sold 1,281 shares of Rhythm Pharmaceuticals stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total transaction of $76,129.83. Following the completion of the sale, the insider now directly owns 2,657 shares in the company, valued at $157,905.51. The trade was a 32.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher Paul German sold 635 shares of Rhythm Pharmaceuticals stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $57.22, for a total value of $36,334.70. Following the sale, the chief accounting officer now owns 2,070 shares of the company’s stock, valued at approximately $118,445.40. This represents a 23.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,787 shares of company stock worth $1,901,443. 5.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on RYTM. Needham & Company LLC restated a “buy” rating and issued a $64.00 price target on shares of Rhythm Pharmaceuticals in a report on Thursday. Oppenheimer began coverage on Rhythm Pharmaceuticals in a report on Friday, December 20th. They set an “outperform” rating and a $76.00 target price for the company. TD Cowen boosted their price target on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their target price on Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, JMP Securities restated a “market outperform” rating and set a $75.00 price objective on shares of Rhythm Pharmaceuticals in a research note on Monday, December 23rd. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.18.

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.