Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC lessened its position in shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 21.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,696 shares of the company’s stock after selling 1,029 shares during the period. Chicago Partners Investment Group LLC’s holdings in Rhythm Pharmaceuticals were worth $214,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Rhythm Pharmaceuticals during the fourth quarter worth $44,000. KBC Group NV lifted its holdings in Rhythm Pharmaceuticals by 78.2% during the 4th quarter. KBC Group NV now owns 2,251 shares of the company’s stock worth $126,000 after buying an additional 988 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Rhythm Pharmaceuticals during the 4th quarter worth about $28,000. Principal Financial Group Inc. increased its holdings in shares of Rhythm Pharmaceuticals by 241.9% in the 3rd quarter. Principal Financial Group Inc. now owns 32,586 shares of the company’s stock valued at $1,707,000 after acquiring an additional 23,054 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Rhythm Pharmaceuticals by 11.5% during the 3rd quarter. Franklin Resources Inc. now owns 259,416 shares of the company’s stock worth $13,033,000 after acquiring an additional 26,739 shares in the last quarter.

Rhythm Pharmaceuticals Stock Up 1.8 %

NASDAQ RYTM opened at $61.02 on Thursday. The business’s 50-day moving average price is $57.37 and its 200 day moving average price is $53.19. The firm has a market cap of $3.75 billion, a P/E ratio of -14.09 and a beta of 2.14. Rhythm Pharmaceuticals, Inc. has a 52-week low of $35.17 and a 52-week high of $68.58.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last released its earnings results on Tuesday, November 5th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $32.52 million. During the same quarter in the previous year, the company posted ($0.76) earnings per share. The company’s revenue for the quarter was up 47.6% compared to the same quarter last year. As a group, analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.33 earnings per share for the current year.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other news, insider Joseph Shulman sold 13,281 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $66.44, for a total transaction of $882,389.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David P. Meeker sold 4,278 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $59.43, for a total transaction of $254,241.54. Following the completion of the transaction, the chief executive officer now owns 189,927 shares of the company’s stock, valued at $11,287,361.61. This represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,826 shares of company stock valued at $5,833,370. 5.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RYTM shares. Bank of America upped their price target on Rhythm Pharmaceuticals from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Rhythm Pharmaceuticals in a research report on Tuesday, November 19th. Guggenheim initiated coverage on shares of Rhythm Pharmaceuticals in a research note on Monday, October 21st. They set a “buy” rating and a $70.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Rhythm Pharmaceuticals from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, JMP Securities reiterated a “market outperform” rating and set a $75.00 target price on shares of Rhythm Pharmaceuticals in a research report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $68.09.

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.