Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. trimmed its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 26.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,252 shares of the company’s stock after selling 11,116 shares during the period. Harbor Capital Advisors Inc.’s holdings in Rhythm Pharmaceuticals were worth $1,694,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter worth approximately $63,000. Quest Partners LLC boosted its holdings in Rhythm Pharmaceuticals by 513.3% in 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. Mirae Asset Global Investments Co. Ltd. increased 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 purchasing an additional 391 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Rhythm Pharmaceuticals by 32.8% during the second quarter. Principal Financial Group Inc. now owns 9,532 shares of the company’s stock worth $391,000 after purchasing an additional 2,352 shares during the period. Finally, Creative Planning bought a new position in shares of Rhythm Pharmaceuticals in the 3rd quarter worth about $450,000.

Rhythm Pharmaceuticals Price Performance

RYTM stock opened at $56.17 on Monday. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -12.97 and a beta of 2.16. Rhythm Pharmaceuticals, Inc. has a 1 year low of $35.17 and a 1 year high of $68.58. The company has a 50 day simple moving average of $58.63 and a 200 day simple moving average of $51.72.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.07. The business had revenue of $33.20 million during the quarter, compared to the consensus estimate of $32.52 million. Rhythm Pharmaceuticals had a negative net margin of 230.07% and a negative return on equity of 367.36%. The company’s revenue for the quarter was up 47.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.76) EPS. On average, equities research analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RYTM. The Goldman Sachs Group boosted their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Needham & Company LLC upped their target price on Rhythm Pharmaceuticals from $55.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price target on shares of Rhythm Pharmaceuticals in a report on Tuesday, November 19th. Jefferies Financial Group began coverage on Rhythm Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $80.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $69.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $68.09.

Insider Activity

In related news, EVP Jennifer Kayden Lee sold 66,861 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $66.33, for a total transaction of $4,434,890.13. Following the transaction, the executive vice president now directly owns 972 shares in the company, valued at approximately $64,472.76. The trade was a 98.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pamela J. Cramer sold 4,688 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $65.00, for a total value of $304,720.00. Following the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at $877,500. The trade was a 25.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,830 shares of company stock worth $5,622,000 over the last quarter. 5.60% of the stock is currently owned by corporate insiders.

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.