Cibc World Markets Corp Purchases New Holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Cibc World Markets Corp acquired a new position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,123 shares of the company’s stock, valued at approximately $287,000.

Several other institutional investors also recently modified their holdings of the company. Loomis Sayles & Co. L P acquired a new position in shares of Rhythm Pharmaceuticals in the third quarter valued at $33,353,000. Alkeon Capital Management LLC increased its holdings in Rhythm Pharmaceuticals by 16.8% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,167,700 shares of the company’s stock valued at $61,176,000 after buying an additional 167,700 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Rhythm Pharmaceuticals by 14.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,111,043 shares of the company’s stock valued at $58,208,000 after buying an additional 143,800 shares in the last quarter. Barclays PLC lifted its holdings in shares of Rhythm Pharmaceuticals by 79.6% during the 3rd quarter. Barclays PLC now owns 106,397 shares of the company’s stock worth $5,574,000 after acquiring an additional 47,166 shares during the period. Finally, Frazier Life Sciences Management L.P. boosted its position in shares of Rhythm Pharmaceuticals by 1.9% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,416,952 shares of the company’s stock valued at $126,624,000 after acquiring an additional 45,648 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RYTM shares. The Goldman Sachs Group increased their price target 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. Jefferies Financial Group assumed coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They issued a “buy” rating and a $80.00 price objective on the stock. Morgan Stanley restated an “overweight” rating and set a $72.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, March 7th. JMP Securities reiterated a “market outperform” rating and issued a $75.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. Finally, Stifel Nicolaus initiated coverage on Rhythm Pharmaceuticals in a report on Wednesday, March 5th. They set a “buy” rating and a $78.00 price objective for the company. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $69.46.

Rhythm Pharmaceuticals Stock Down 1.5 %

Rhythm Pharmaceuticals stock opened at $52.91 on Wednesday. The stock has a 50-day simple moving average of $55.28 and a 200 day simple moving average of $54.99. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of -12.22 and a beta of 2.30. Rhythm Pharmaceuticals, Inc. has a 12-month low of $35.17 and a 12-month high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its 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 return on equity of 367.36% and a negative net margin of 230.07%. The company had revenue of $41.83 million during the quarter, compared to the consensus estimate of $38.48 million. As a group, sell-side analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Insider Buying and Selling

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 1,281 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $59.43, for a total value of $76,129.83. Following the transaction, the insider now directly owns 2,657 shares in the company, valued at approximately $157,905.51. This trade represents a 32.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher Paul German sold 635 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was 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. The trade was a 23.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,131 shares of company stock worth $5,781,098 in the last quarter. Insiders own 5.60% of the company’s stock.

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.