SG Americas Securities LLC Sells 26,208 Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM)

SG Americas Securities LLC lowered its stake in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 77.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,519 shares of the company’s stock after selling 26,208 shares during the period. SG Americas Securities LLC’s holdings in Rhythm Pharmaceuticals were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in Rhythm Pharmaceuticals by 62.6% during the second quarter. CWM LLC now owns 657 shares of the company’s stock worth $27,000 after buying an additional 253 shares during the last quarter. American International Group Inc. raised its position in shares of Rhythm Pharmaceuticals by 3.1% during the first quarter. American International Group Inc. now owns 26,318 shares of the company’s stock worth $1,140,000 after purchasing an additional 781 shares during the period. ORG Partners LLC acquired a new stake in shares of Rhythm Pharmaceuticals during the second quarter worth about $51,000. Principal Financial Group Inc. raised its position in shares of Rhythm Pharmaceuticals by 20.6% during the first quarter. Principal Financial Group Inc. now owns 7,180 shares of the company’s stock worth $311,000 after purchasing an additional 1,227 shares during the period. Finally, Quest Partners LLC raised its position in shares of Rhythm Pharmaceuticals by 513.3% during the second quarter. Quest Partners LLC now owns 1,662 shares of the company’s stock worth $68,000 after purchasing an additional 1,391 shares during the period.

Rhythm Pharmaceuticals Stock Performance

Shares of Rhythm Pharmaceuticals stock opened at $51.03 on Friday. The business’s 50 day simple moving average is $48.89 and its 200 day simple moving average is $44.40. Rhythm Pharmaceuticals, Inc. has a 52-week low of $21.34 and a 52-week high of $55.64. The firm has a market cap of $3.12 billion, a PE ratio of -11.70 and a beta of 2.07.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last announced its earnings results on Tuesday, August 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.16. The business had revenue of $29.08 million for the quarter, compared to analyst estimates of $28.79 million. Rhythm Pharmaceuticals had a negative return on equity of 221.65% and a negative net margin of 254.88%. Rhythm Pharmaceuticals’s revenue for the quarter was up 51.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.82) EPS. As a group, equities research analysts predict that Rhythm Pharmaceuticals, Inc. will post -4.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. JMP Securities assumed coverage on Rhythm Pharmaceuticals in a research report on Tuesday, September 17th. They set an “outperform” rating and a $64.00 price target on the stock. Bank of America raised their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday. HC Wainwright reaffirmed a “buy” rating and set a $64.00 price target on shares of Rhythm Pharmaceuticals in a research report on Monday, October 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Rhythm Pharmaceuticals in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.13.

Insiders Place Their Bets

In other Rhythm Pharmaceuticals news, Director Jennifer L. Good sold 31,751 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at $157,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Jennifer L. Good sold 31,751 shares of Rhythm Pharmaceuticals stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $52.40, for a total transaction of $1,663,752.40. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $157,200. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Pamela J. Cramer sold 1,395 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $49.06, for a total value of $68,438.70. Following the transaction, the insider now directly owns 31,735 shares in the company, valued at $1,556,919.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,252 shares of company stock valued at $5,393,885 in the last 90 days. 5.60% of the stock is currently owned by insiders.

Rhythm Pharmaceuticals 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.