Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its position in Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,444 shares of the company’s stock after selling 889 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Rhythm Pharmaceuticals were worth $1,354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RYTM. State Street Corp grew its position in shares of Rhythm Pharmaceuticals by 1,145.9% during the third quarter. State Street Corp now owns 3,127,905 shares of the company’s stock worth $76,634,000 after buying an additional 2,876,846 shares in the last quarter. BlackRock Inc. grew its position in shares of Rhythm Pharmaceuticals by 65.7% during the second quarter. BlackRock Inc. now owns 6,265,005 shares of the company’s stock worth $103,310,000 after buying an additional 2,484,406 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Rhythm Pharmaceuticals by 80.7% during the first quarter. Federated Hermes Inc. now owns 5,065,113 shares of the company’s stock worth $58,350,000 after buying an additional 2,261,778 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Rhythm Pharmaceuticals by 105.9% during the second quarter. Geode Capital Management LLC now owns 973,350 shares of the company’s stock worth $16,051,000 after buying an additional 500,589 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Rhythm Pharmaceuticals by 247.7% during the second quarter. Northern Trust Corp now owns 494,202 shares of the company’s stock worth $8,149,000 after buying an additional 352,065 shares in the last quarter.

Insider Buying and Selling at Rhythm Pharmaceuticals

In other Rhythm Pharmaceuticals news, insider Joseph Shulman sold 791 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $51.38, for a total value of $40,641.58. Following the completion of the sale, the insider now owns 3,457 shares in the company, valued at $177,620.66. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Joseph Shulman sold 791 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $51.38, for a total transaction of $40,641.58. Following the completion of the sale, the insider now owns 3,457 shares in the company, valued at $177,620.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Yann Mazabraud sold 1,594 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $51.38, for a total value of $81,899.72. Following the sale, the executive vice president now owns 7,702 shares of the company’s stock, valued at approximately $395,728.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,069 shares of company stock worth $7,626,355. 4.70% of the stock is owned by insiders.

Rhythm Pharmaceuticals Stock Down 0.3 %

Shares of RYTM opened at $38.01 on Monday. The stock has a 50 day moving average price of $42.72 and a 200 day moving average price of $38.32. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -11.88 and a beta of 1.90. Rhythm Pharmaceuticals, Inc. has a 52-week low of $15.50 and a 52-week high of $52.57.

Rhythm Pharmaceuticals (NASDAQ:RYTM) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.70) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.70). Rhythm Pharmaceuticals had a negative return on equity of 96.02% and a negative net margin of 238.50%. The company had revenue of $24.23 million during the quarter, compared to analysts’ expectations of $25.38 million. During the same quarter in the previous year, the business earned ($0.75) earnings per share. The firm’s revenue for the quarter was up 175.7% on a year-over-year basis. On average, equities analysts anticipate that Rhythm Pharmaceuticals, Inc. will post -4.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Rhythm Pharmaceuticals in a research report on Wednesday, April 10th. The Goldman Sachs Group upped their price target on Rhythm Pharmaceuticals from $42.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, Wells Fargo & Company lowered their price target on Rhythm Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rhythm Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $47.20.

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.