Harbor Capital Advisors Inc. Sells 49,341 Shares of Rhythm Pharmaceuticals, Inc. $RYTM

Harbor Capital Advisors Inc. cut its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 57.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 37,205 shares of the company’s stock after selling 49,341 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Rhythm Pharmaceuticals were worth $3,757,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RYTM. Rhumbline Advisers boosted its holdings in Rhythm Pharmaceuticals by 3.6% in the first quarter. Rhumbline Advisers now owns 85,719 shares of the company’s stock worth $4,541,000 after acquiring an additional 2,988 shares in the last quarter. Siren L.L.C. bought a new stake in shares of Rhythm Pharmaceuticals during the first quarter valued at approximately $14,701,000. Voleon Capital Management LP acquired a new position in shares of Rhythm Pharmaceuticals during the first quarter worth approximately $732,000. Advisors Asset Management Inc. lifted its holdings in shares of Rhythm Pharmaceuticals by 44.9% in the 1st quarter. Advisors Asset Management Inc. now owns 10,250 shares of the company’s stock worth $543,000 after purchasing an additional 3,176 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Rhythm Pharmaceuticals by 20.7% in the 1st quarter. Intech Investment Management LLC now owns 33,893 shares of the company’s stock worth $1,795,000 after purchasing an additional 5,801 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RYTM shares. Citizens Jmp boosted their price target on shares of Rhythm Pharmaceuticals from $141.00 to $167.00 and gave the company a “market outperform” rating in a research note on Friday, December 12th. Canaccord Genuity Group boosted their target price on shares of Rhythm Pharmaceuticals from $114.00 to $141.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Guggenheim upped their target price on shares of Rhythm Pharmaceuticals from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 price target on shares of Rhythm Pharmaceuticals in a research report on Thursday, December 11th. Finally, HC Wainwright lifted their price target on Rhythm Pharmaceuticals from $110.00 to $123.00 and gave the company a “buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Rhythm Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.47.

Rhythm Pharmaceuticals Price Performance

RYTM opened at $112.35 on Thursday. The company’s 50-day moving average is $106.99 and its 200 day moving average is $94.97. Rhythm Pharmaceuticals, Inc. has a fifty-two week low of $45.90 and a fifty-two week high of $122.20. The firm has a market capitalization of $7.50 billion, a P/E ratio of -36.24 and a beta of 1.96.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). The firm had revenue of $51.30 million during the quarter, compared to the consensus estimate of $50.71 million. Rhythm Pharmaceuticals had a negative return on equity of 433.21% and a negative net margin of 110.32%. On average, equities research analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.32 earnings per share for the current year.

Insider Activity at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 14,437 shares of the business’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $112.03, for a total value of $1,617,377.11. Following the transaction, the insider owned 8,509 shares of the company’s stock, valued at approximately $953,263.27. The trade was a 62.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pamela J. Cramer sold 3,350 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $111.00, for a total value of $371,850.00. Following the completion of the transaction, the insider owned 20,814 shares of the company’s stock, valued at $2,310,354. This trade represents a 13.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 30,350 shares of company stock valued at $3,436,340. 6.10% of the stock is currently owned by corporate insiders.

Rhythm Pharmaceuticals Profile

Rhythm Pharmaceuticals, Inc is a clinical?stage biotechnology company dedicated to developing targeted therapies for rare genetic diseases of obesity and metabolic dysfunction. The company’s research focuses on the melanocortin?4 receptor (MC4R) pathway, which plays a central role in regulating appetite, energy expenditure and body weight. Using proprietary peptide technology, Rhythm aims to provide precision treatments to patients with specific genetic variants that disrupt normal weight regulation.

The company’s lead investigational product, setmelanotide, is a selective MC4R agonist designed to restore signaling in patients with deficiencies in genes such as POMC, LEPR and PCSK1.