Rhythm Pharmaceuticals, Inc. $RYTM Stock Position Increased by Candriam S.C.A.

Candriam S.C.A. increased its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 7.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 312,452 shares of the company’s stock after buying an additional 20,983 shares during the quarter. Candriam S.C.A. owned about 0.49% of Rhythm Pharmaceuticals worth $19,745,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in Rhythm Pharmaceuticals by 1.0% in the first quarter. Victory Capital Management Inc. now owns 17,326 shares of the company’s stock worth $918,000 after acquiring an additional 174 shares in the last quarter. Xponance Inc. grew its stake in shares of Rhythm Pharmaceuticals by 4.7% in the 1st quarter. Xponance Inc. now owns 4,365 shares of the company’s stock worth $231,000 after purchasing an additional 197 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 37,156 shares of the company’s stock worth $1,968,000 after purchasing an additional 272 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Rhythm Pharmaceuticals by 16.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,458 shares of the company’s stock valued at $155,000 after purchasing an additional 342 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in Rhythm Pharmaceuticals by 3.0% during the second quarter. Teacher Retirement System of Texas now owns 12,772 shares of the company’s stock valued at $807,000 after purchasing an additional 368 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Citigroup restated an “outperform” rating on shares of Rhythm Pharmaceuticals in a research report on Thursday, September 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Rhythm Pharmaceuticals in a report on Wednesday, October 8th. Guggenheim boosted their target price on Rhythm Pharmaceuticals from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. HC Wainwright upped their target price on Rhythm Pharmaceuticals from $100.00 to $110.00 and gave the company a “buy” rating in a report on Monday, September 29th. Finally, Needham & Company LLC lifted their price target on Rhythm Pharmaceuticals from $95.00 to $122.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $113.23.

Rhythm Pharmaceuticals Trading Down 2.1%

Shares of RYTM stock opened at $95.89 on Friday. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of -31.86 and a beta of 2.12. Rhythm Pharmaceuticals, Inc. has a 1-year low of $45.90 and a 1-year high of $116.00. The stock’s fifty day simple moving average is $102.55 and its 200-day simple moving average is $85.72.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.10). Rhythm Pharmaceuticals had a negative return on equity of 1,831.43% and a negative net margin of 117.13%.The business had revenue of $51.30 million for the quarter, compared to analyst estimates of $50.71 million. On average, sell-side analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.32 EPS for the current year.

Insider Activity at Rhythm Pharmaceuticals

In related news, insider Joseph Shulman sold 9,748 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $115.24, for a total transaction of $1,123,359.52. Following the completion of the sale, the insider directly owned 8,509 shares in the company, valued at approximately $980,577.16. This trade represents a 53.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 31,188 shares of company stock worth $3,483,583 in the last ninety days. Company insiders own 6.10% of the company’s stock.

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.