Quest Partners LLC Acquires 7,505 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

Quest Partners LLC lifted its holdings in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 451.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,167 shares of the company’s stock after buying an additional 7,505 shares during the quarter. Quest Partners LLC’s holdings in Rhythm Pharmaceuticals were worth $480,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. CWM LLC grew its holdings in Rhythm Pharmaceuticals by 62.6% in the second quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after purchasing an additional 253 shares during the period. ORG Partners LLC purchased a new stake in shares of Rhythm Pharmaceuticals in the 2nd quarter worth approximately $51,000. ORG Wealth Partners LLC bought a new position in Rhythm Pharmaceuticals during the 3rd quarter valued at approximately $63,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Rhythm Pharmaceuticals by 21.5% during the third 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 last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Rhythm Pharmaceuticals by 32.8% in the second quarter. Principal Financial Group Inc. now owns 9,532 shares of the company’s stock worth $391,000 after acquiring an additional 2,352 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RYTM. HC Wainwright lifted their price target on Rhythm Pharmaceuticals from $64.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. JMP Securities started coverage on shares of Rhythm Pharmaceuticals in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $64.00 target price on the stock. Guggenheim initiated coverage on shares of Rhythm Pharmaceuticals in a research report on Monday, October 21st. They set a “buy” rating and a $70.00 price target for the company. Needham & Company LLC boosted their price objective on shares of Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Bank of America increased their target price on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Rhythm Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $62.30.

Insider Activity at Rhythm Pharmaceuticals

In related news, Director Lynn A. Tetrault sold 4,300 shares of Rhythm Pharmaceuticals stock in a transaction on Monday, August 26th. The stock was sold at an average price of $50.01, for a total transaction of $215,043.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $150,030. The trade was a 58.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pamela J. Cramer sold 3,200 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $675,135. The trade was a 19.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,681 shares of company stock worth $8,734,825. 5.60% of the stock is owned by company insiders.

Rhythm Pharmaceuticals Price Performance

RYTM stock opened at $59.94 on Friday. Rhythm Pharmaceuticals, Inc. has a 1 year low of $31.52 and a 1 year high of $68.58. The company has a market cap of $3.68 billion, a P/E ratio of -13.84 and a beta of 2.09. The stock’s fifty day moving average price is $53.35 and its 200-day moving average price is $47.16.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its 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 367.36% and a negative net margin of 230.07%. The business had revenue of $33.20 million for the quarter, compared to analysts’ expectations of $32.52 million. During the same period last year, the firm posted ($0.76) earnings per share. The business’s revenue for the quarter was up 47.6% on a year-over-year basis. As a group, analysts expect that Rhythm Pharmaceuticals, Inc. will post -4.36 earnings per share 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.