Creative Planning Makes New Investment in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Creative Planning acquired a new position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) during the 3rd quarter, Holdings Channel reports. The firm acquired 8,594 shares of the company’s stock, valued at approximately $450,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC grew its position in shares of Rhythm Pharmaceuticals by 62.6% in the 2nd quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after acquiring an additional 253 shares in the last quarter. American International Group Inc. grew its position in shares of Rhythm Pharmaceuticals by 3.1% in the 1st quarter. American International Group Inc. now owns 26,318 shares of the company’s stock worth $1,140,000 after acquiring an additional 781 shares in the last quarter. ORG Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 2nd quarter worth approximately $51,000. ORG Wealth Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter worth approximately $63,000. Finally, Quest Partners LLC grew its position in shares of Rhythm Pharmaceuticals by 513.3% in 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.

Insider Activity

In other news, insider Pamela J. Cramer sold 3,200 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $50.01, for a total value of $160,032.00. Following the completion of the sale, the insider now owns 13,500 shares in the company, valued at $675,135. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Pamela J. Cramer sold 4,099 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $50.03, for a total value of $205,072.97. Following the completion of the sale, the insider now owns 13,500 shares in the company, valued at $675,405. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Pamela J. Cramer sold 3,200 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $50.01, for a total value of $160,032.00. Following the completion of the sale, the insider now owns 13,500 shares of the company’s stock, valued at approximately $675,135. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,857 shares of company stock worth $5,325,446 over the last 90 days. 5.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on RYTM. Guggenheim began coverage on Rhythm Pharmaceuticals in a research report on Monday, October 21st. They issued a “buy” rating and a $70.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $64.00 target price on shares of Rhythm Pharmaceuticals in a research report on Friday, October 25th. TD Cowen lifted their target price on Rhythm Pharmaceuticals from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday. Canaccord Genuity Group boosted their price objective on Rhythm Pharmaceuticals from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Needham & Company LLC boosted their price objective on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.80.

Rhythm Pharmaceuticals Stock Performance

NASDAQ:RYTM opened at $62.65 on Thursday. Rhythm Pharmaceuticals, Inc. has a 1 year low of $23.83 and a 1 year high of $64.73. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -14.37 and a beta of 2.09. The business has a fifty day moving average of $50.25 and a 200-day moving average of $45.46.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.07. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. The company had revenue of $33.20 million during the quarter, compared to analysts’ expectations of $32.52 million. During the same quarter in the prior year, the business posted ($0.76) earnings per share. The company’s revenue for the quarter was up 47.6% compared to the same quarter last year. On average, equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.45 EPS for the current year.

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.